Governors express strong support for NIB

At its annual meeting today in Turku, Finland, the Board of Governors expressed strong support for NIB’s activities in the current economic situation. The Governors agreed to decide on the capital base of the Bank during the coming weeks.

“NIB should further direct its lending capacity towards its four focus sectors: environment; energy; transport, logistics and communication; and innovation. These are sectors which still suffer from the economic crisis in the membership area,” says Ms Ingrida Šimonyte, Finance Minister of Lithuania, who chaired the Board meeting.

In 2009, the share of these focus sectors rose already to 76% of the disbursements and a further increase is envisaged for 2010.

At the meeting, the Board of Governors approved NIB’s annual accounts for 2009. No dividends will be made available to the Bank’s member countries.

The Board of Governors, in which the member countries are represented at the ministerial level, appointed the Governor for Latvia as its Chairman for the period 1 June 2010 until 31 May 2011.

NIB provides long-term financing in the form of loans and guarantees based on sound banking principles for activities in which NIB can add value and complement other financing sources. The Bank has gradually grown into a financial institution with a balance sheet of approximately EUR 22.4 billion and a loan portfolio of EUR 13.8 billion. In 2009, disbursements were at EUR 2 billion.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. 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 Johnny Åkerholm, President & CEO, at +358 10 618 001,

Mr Jukka Ahonen, Director of Communications, at +358 10 618 0295,