4 Oct 2016
Member countries to adjust their shares in authorised capital
NIB’s Board of Governors has decided to undertake an adjustment and alignment of NIB’s authorised capital and member country guarantees for the Bank’s project investment (PIL) and environmental (MIL) loan facilities, with the aim of completing the changes by the end of January 2017.
As previously announced shortly after the Board of Governors’ annual meeting in May concerning the adjustment and alignment of the Bank’s authorised capital, the Bank’s Governors have made a unanimous decision this autumn to adjust and align NIB’s authorised capital so that each member country’s share in percentage of paid-in capital and callable capital will be equal to its share of the authorised capital. The adjustment and alignment also concerns the member countries’ statutory guarantee shares in percentage for the Project Investment Loan facility (PIL) and the Environmental Investment Loan facility (MIL).
In several member countries, the decision needs to be ratified by parliament before it enters into force. The changes are expected to be implemented by the end of January 2017.
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