Development Finance Institution Altum joins Three Seas Initiative Investment Fund
Inside information, 2020-09-16 13:46 CEST --
Development Finance Institution Altum on 16 September joined the Three Seas Initiative Investment Fund, a new financial instrument to support transport, energy and digitalization infrastructure projects in Central and Eastern Europe. ALTUM and the Fund’s investment manager Amber Infrastructure have signed an agreement, according to which ALTUM will invest up to EUR 20 million in the Fund.
The Cabinet of Ministers supported ALTUM’s involvement in the Three Seas Initiative Investment Fund on 7 May.
ALTUM Management Board Chairman Reinis Bērziņš:
“At the introductory conference of the Three Seas Fund in Riga in early 2020, we saw that Latvian companies had an interest in the opportunities offered by the Fund, and several bilateral meetings between companies and Fund management regarding the possible financing of Latvian infrastructure projects took place already during the conference. Large-scale projects in Latvia, as well as projects in other countries of the region, can apply for the Fund’s financing, which complements the existing funding opportunities. ALTUM’s expertise allows us to engage in the initial assessment of projects in order to pass them on to the world-class Investment Fund Amber Infrastructure.”
The Three Seas Initiative Investment Fund is a joint initiative of 12 Baltic, Black and Adriatic Sea countries aimed at promoting financing and development of infrastructure projects. The financial resources of the Three Seas Initiative Investment Fund will come from the Three Seas countries’ institutions and other investors from all over the world. The Three Seas Initiative Investment Fund aims to raise up to EUR 5 billion. EUR 500 million has already been contributed to the Fund. Besides ALTUM, Estonia has also joined the Fund, confirming that it will invest EUR 20 million in the Fund.
More information about the initiative can be found on this website: www.3siif.eu. Information about Amber Infrastructure can be found here: www.amberinfrastructure.com
AS Attīstības finanšu institūcija Altum Investors Relationships Division
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