Chinese Vice-Minister for Finance visits NIB

NIB allocates new loan programmes to China

On 4 September, the Chinese Vice-Minister of the Ministry of Finance, Mr Li Yong, and the Nordic Investment Bank’s President and CEO, Johnny Åkerholm, signed agreements of the General Loan Programme XII and the Rural Area Loan Programme III. The two programmes commit a total loan of USD 200 million for financing projects in the China’s priority sectors.  

Mr Li visited NIB’s headquarters in Helsinki, Finland. For NIB, 2008 marks 10 years of cooperation between the Bank and the Ministry of Finance of the People’s Republic of China.  

The Bank has been active in the Chinese market for over two decades. NIB has participated in the financing of more than 200 projects throughout China in various sectors, such as: environmental protection, energy efficiency, health care service, agricultural processing, rural development, education and infrastructure. China is NIB’s largest single borrower outside the membership area.  

“NIB is sharpening its focus on key countries such as China,” says Johnny Åkerholm, “As regards project financing, NIB is very selective. The Bank gives high priority to projects that improve the environment, and all projects considered for financing are analysed on the basis of their sustainability merits and environmental consequences.”  

Mr Li emphasised the importance of cooperation between his ministry and the Nordic Investment Bank.  

“This cooperation gives us not only financial resources in our priority sectors, but also state-of-the-art technologies and equipment conducive to environmental protection, energy efficiency, public service and poverty reduction. With the signing of the new loan agreements, and having NIB’s Chief Representative for China in Beijing, we are looking forward to even closer and more fruitful cooperation over the next ten years and beyond,” says Mr Li.  

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Xuemin Shao, Chief Representative for China and East Asia, at +358 10 618 0334, xuemin.shao (at) nib.int
Mr Jukka Ahonen, Director of Communications, at +358 10 618 0295, jukka.ahonen (at) nib.int