It is widely acknowledged that the infrastructure level significantly impacts any country's economic growth perspectives and social welfare. The development and even maintenance of the existing infrastructure require high financial investments with a long repayment period. Also, to limit monopoly in the infrastructure networks, there is a line between a free market and a regulated market providing these services. Therefore, infrastructure finance is very complex. The Baltic States substantially benefitted from EU Cohesion money in improving and maintaining their infrastructure in the last decades. The shift in EU funding priorities (starting from the planning period 2021-2027) from traditional infrastructure projects to supporting smarter and greener investments, besides other factors, will lead to a substantial funding gap. The study is devoted to assessing the amount of necessary funding in the Baltic States and identifying the factors that could attract more private investors to the infrastructure projects in the Baltics.