Statement by the NIB President & CEO on the War in Ukraine

André Küüsvek, President and CEO of the Nordic Investment Bank (NIB) issued the following statement on the war in Ukraine.

“We are deeply horrified by the loss of human lives and destruction brought by the war in Ukraine. People are being killed and forced to leave their homes. We are witnessing a humanitarian tragedy. NIB stands by the Ukrainian people during these terrible times. NIB staff has initiated fund-raising to support UNICEF’s emergency response in Ukraine. We are also looking at other ways to help.

NIB’s direct exposure in Russia and Belarus is marginal. Due to the sanctions, we have not financed any new projects in these countries for a long time. The old loans are related to the clean-up of the Baltic Sea. We do not currently have any loans in Ukraine.

NIB has some borrowers with a portion of their operations in these countries. At macro level, several NIB member countries have an external border with Russia and/or Belarus and are therefore exposed also through trade and investment.

We are in contact with our member countries and stand ready to support their efforts to deal with the situation.”

NIB is an international 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 André Küüsvek, NIB President & CEO, at +358 10 618 001, info@nib.int
Mr Jukka Ahonen, Head of Communications, at +358 10 618 0295, 
jukka.ahonen@nib.int