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.”