NORDIC INVESTMENT BANK (NIB)
Fabianinkatu 34 Postal Add: P.O. Box 249 00171 Helsinki Telephone: (9)1-8001 Finland Facsimile: (9)180-0210 Telex: 122121 NIB SF E-mail: firstname.lastname@example.org Internet: www.nib.int Representative Offices Landgreven 4 Telephone: 3314-4242 DK-1301 Copenhagen Facsimile: 3332-2676 Denmark #16-03, 78 Shenton Way Telephone: 6227-6355 Singapore 079120 Facsimile: 6227-6455 Republic of Singapore President: ... Jón SIGURDSSON Board of Directors Chairman: ... Claes DE NEERAARD (Sweden) Deputy Chairman: ... Bolli Thor BOLLASSON (Iceland) Members: ... Bo Göran ERIKSSON (Finland) ... Arild SUNDBERG (Norway) ... Lars KOLTE (Denmark) ... Seppo SUOKKO (Finland) ... Thorsteinn OLAFSSON (Iceland) ... Bo MARKING (Sweden) ... Eli TELHAUG (Norway) ... Ib KATZNELSON (Denmark)
ESTABLISHMENT AND FUNCTIONS
The Nordic Investment Bank (NIB) agreement entered into force on June 1, 1976, in accordance with a decision of the Nordic Council of Ministers, and the Bank commenced operations on August 2, 1976. The purpose of the Bank is to make loans and give guarantees in accordance with regular banking practice, taking into account socio-economic considerations, in order to promote investment projects of mutual interest to the borrower country and the Nordic countries.
The Bank's authorized capital amounts to EUR 4.0 billion (the euro is the Bank's unit of account), of which EUR 404 million has been paid in. The remainder of the capital will remain the callable capital of the Bank, to be paid by member countries if required. The approximate proportion of subscription of capital is: Sweden, 38 percent; Denmark, 22 percent; Finland, 19 percent; Norway, 20 percent; and Iceland, 1 percent. The Bank can make loans and guarantees to a total of 2.5 times its capital and general reserves (approx. EUR 12 billion). In addition there is a special lending facility--Project Investment Loans--of EUR 3.3 billion to finance projects in creditworthy developing countries and countries in Central and Eastern Europe. Furthermore, the Bank administers a lending facility of EUR 100 million for the financing of environmental investments in the neighboring areas of the Nordic countries, e.g., northwestern Russia and the Baltic and Barents Seas areas. The Environmental Lending Facility came into force in 1997. The Bank enjoys the highest possible credit rating awarded by the two leading American credit rating institutions.
5 member countries: Denmark, Finland, Iceland, Norway, Sweden
All the powers of the Bank are vested in the Board of Directors, which is composed of two members from each country appointed for maximum terms of four years. The Board may delegate powers to the President, who is appointed for a term of five years.
Annual Report (Swedish and English); Interim Report (October) (Swedish and English)
UPDATED: May 14, 2003