The U.S. Ramps Up Financial Support to Central and Eastern Europe
MIN READOct 20, 2020 | 17:49 GMT
A satellite image shows Europe at night.
U.S. financial support for the Three Seas Initiative shows the White House remains committed to its security and economic engagements in Central and Eastern Europe, with an eye on countering China and Russia’s presence in the region. On Oct. 19, the United States announced that it will contribute $300 million to the Three Seas Initiative Investment Fund, which finances cross-border energy, transport and digital infrastructure projects in the regions between the Baltic, Black and Adriatic Seas, raising its capital base to over $1.3 billion. The United States will use cooperation with the Three Seas Initiative to compete with China and Russia for influence in Central and Eastern Europe, as well as promote its foreign policy agenda in the region (which does not always align with that of the European Union). However, internal divisions among Three Seas Initiative countries will limit the effectiveness of such U.S. influence campaigns by weakening the group’s...
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