US invests $1bn in Three Seas

"The more each country invests, the more we invest," says US Economic Undersecretary.

The Trump administration’s Undersecretary for Economic Growth, Energy and the Environment Keith Krach has announced that the US Development Finance Corporation (DFC) will invest up to $1bn into the Three Seas Initiative Fund.

As previously reported, a raft of countries committed more money to the initiative at the Tallinn summit earlier this week.

Under the terms of the investment, the DFC will match 30% of other countries’ investment, up to $1bn.

“As Secretary Pompeo said, we’re asking all countries to increase their number. Our aim is to help the fund reach €3.4bn so that we can invest €1bn in roads, bridges, railways, 5G, ports, and energy,” said Krach.

“It’s a team sport so let’s do it together.”