NIB signs framework agreement with Uruguay

On 1 August, NIB signed a framework agreement on financial cooperation with the government of Uruguay. The agreement implies that Uruguay recognises NIB as an international financial institution. This status enables NIB to participate in the financing of investment projects in this country.

“The agreement will support economic cooperation between Uruguay and the Bank’s member countries. We hope that the presence of NIB will help and encourage more companies from the Nordic and Baltic countries to enter this market,” says Johnny Åkerholm, NIB’s President and CEO.

The Bank grants loans for projects which contribute to the development of infrastructure, energy, telecommunications, environmental improvements, as well as to other projects of mutual interest to the borrower and the member countries. NIB is widely known for its strict environmental criteria that we apply to all projects we consider to finance.

In Latin America, the Bank has framework agreements with Argentina, Brazil, Colombia, Dominican Republic, Mexico, Peru, and Venezuela. NIB also cooperates with Latin American multilateral financial institutions: the Andean Development Corporation (CAF) and Central American Bank for Economic Integration (CABEI).