NIB’s bonds enjoy the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

A/B loan

Under an A/B loan structure NIB is the lender of record for, and administers, the entire loan amount consisting of an A loan and a B loan. NIB keeps the A loan for its own account while the B loan is funded by commercial banks pursuant to a “Participation Agreement”. The borrower benefits from longer tenors and higher-value financing. NIB fully shares project risks with the participating banks which are able to share NIB’s privileges as an IFI. The A/B loan structure enables NIB to improve the delivery of its mandate by offering more comprehensive, larger-value financing packages.
Loan products

Arctic Financing Facility

Launched as part of Bank’s ongoing lending activities in 2015 to finance eligible projects in the Arctic region in line the Arctic strategies of the Bank’s member countries.

Authorised capital

NIB is owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The eight member countries have subscribed the authorised capital of NIB according to a distribution key based on the member countries’ gross national income.

Category A projects

In Category A, NIB’s Sustainability Policy and Guidelines includes projects with potential significant adverse social or environmental impacts that are diverse, irreversible or unprecedented.

Eligibility criteria

In accordance with NIB’s mission, all projects financed by NIB should improve the productivity and/or benefit the environment in the Bank’s member countries.

Environmental assessment

See Mandate assessment.

Environmental impact assessment (EIA)

NIB conducts an internal environmental review of all loan applications. The review is based on, e.g., environmental impact assessments (EIAs). The environmental impact assessment report should include the following topics: executive summary; operational framework; project description; policy, legal and administrative framework; baseline data; environmental impacts; analysis of alternatives; mitigation measures; monitoring plan; community engagement; and management plan. The need for an environmental impact assessment (EIA) is different from the need for an environmental audit, and these two do not substitute for one another. 

More in the Sustainability Policy

European Principles for the Environment (EPE)

NIB, together with four other European multilateral financial institutions, has signed the declaration European Principles for the Environment (EPE), concerning environmental management in the financing of projects. The aim of the declaration is to promote sustainable development and to protect and improve the environment.


NIB cooperates with both financial and governmental intermediaries, which channel NIB financing further. Especially, NIB channels financing to projects of small and medium-sized enterprises through intermediaries.

International financial institution (IFI)

NIB is an international financial institution (IFI), comparable to, for example, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). Typical for such institutions is that they are established by an international treaty entered into between their member countries under public international law. Like other IFIs, NIB is also governed by its constituent documents. Furthermore, IFIs are characterised by membership support, which strengthens the creditworthiness of the institution. Like all IFIs, NIB has the status of a preferred creditor, which means in particular that the Bank in its member countries and through its agreements with non-member countries will not be required to participate in the rescheduling of national debt.
Structure & Management at NIB
NIB’s Legal framework and policy documents

Mandate assessment

All projects financed by NIB should improve productivity and/or benefit the environment, in accordance with NIB’s mandate and eligibility criteria.

Nordic Development Fund (NDF)

The Nordic Development Fund (NDF) is a multilateral development financing organisation. NDF together with NIB and NEFCO form the Nordic Finance Group.
Nordic Finance Group

Nordic Environment Finance Corporation (NEFCO)

The Nordic Environment Finance Corporation (NEFCO) is a multilateral risk capital institution financing environmental projects mainly in Eastern Europe. NEFCO together with NIB and NDF form the Nordic Finance Group.
Nordic Finance Group

Northern Dimension Environmental Partnership (NDEP)

NIB is an active partner in the Northern Dimension Environmental Partnership (NDEP), which is a cooperative effort to coordinate and support the financing of urgent environmental investments in Northwest Russia.

Northern Dimension Partnership on Transport and Logistics (NDPTL)

The Northern Dimension Partnership on Transport and Logistics is established to facilitate the implementation of major infrastructure projects within the Northern Dimension region. The NDPTL Secretariat is located at NIB’s Headquarters in Helsinki.


Improving productivity in the Nordic and Baltic countries is one of the two pillars of the Bank’s mission.

Public Private Partnership (PPP)  

Public Private Partnership (PPP) is a model in which a public service is funded, implemented and operated through a partnership of a public institution and one or more private sector entities. NIB, with its experience in complex financing structures, may assist its customers with project and structured finance, e.g. using the PPP model. NIB has financed PPP projects concerning, e.g., road building in Nordic countries and Poland.

Sustainability assessment

See Mandate assessment.