Host Country Agreement between Finland and NIB renewed

A renewed Host Country Agreement between the Government of Finland and the Nordic Investment Bank (NIB) was signed on 20 October 2010. The agreement was thereafter ratified by the Parliament of Finland and entered into force on 16 January 2011.

International organisations, such as the Nordic Investment Bank, established by sovereign states, do not automatically fall under any national legislation, not even that of the country where the organisation is seated and has its headquarters. Accordingly, international organisations enter into separate agreements with their host countries in order to regulate a number of matters concerning the organisation’s and its staff members’ presence in the host country.

The Host Country Agreement between Finland and NIB is a constituent document of the Bank, regulating the relations between Finland and NIB, including certain immunities and privileges, on a more practical level. The agreement also includes provisions on, among other issues, the staff’s pension and social security coverage.