NIB to finance projects in Ukraine

NIB has signed a framework agreement on financial cooperation with the government of Ukraine. Once ratified, the agreement will enable NIB, as an international financier, to finance investment projects in this country.

NIB’s President and CEO Johnny Åkerholm emphasises that the agreement will boost economic cooperation between Ukraine and NIB’s member countries. 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.

“With a population of 48 million people, Ukraine is one of the largest countries in Europe. It is also one of the continent’s most rapidly developing economies. A number of major investors from Northern Europe have already gained a foothold in Ukraine. We hope that the presence of NIB will encourage and enable more companies from the Nordic and Baltic countries to enter this market,” says Mr Åkerholm.

The agreement was signed by Ukraine’s Minister of Finance Victor Pynzenyk and NIB’s President and CEO Johnny Åkerholm on 23 December 2005.