The Nordic Investment Bank (NIB) is an

international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its owners or shareholders are generally national governments, al ...

founded in 1975 by the five

Nordic countries The Nordic countries (also known as the Nordics or ''Norden''; literal translation, lit. 'the North') are a geographical and cultural region in Northern Europe and the Atlantic Ocean, North Atlantic. It includes the sovereign states of Denmar ...

(Denmark, Finland, Iceland, Norway, and Sweden). In 2005, the three

Baltic states The Baltic states, et, Balti riigid or the Baltic countries is a geopolitical term, which currently is used to group three countries: Estonia, Latvia, and Lithuania. All three countries are members of NATO, the European Union, the Eurozone, ...

(Estonia, Latvia, and Lithuania) also became members of the Bank. NIB’s headquarters are located in

Helsinki Helsinki ( or ; ; sv, Helsingfors, ) is the Capital city, capital, primate city, primate, and List of cities and towns in Finland, most populous city of Finland. Located on the shore of the Gulf of Finland, it is the seat of the region of U ...

, Finland. NIB acquires the funds for its lending by borrowing on the international

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

Strategy

NIB offers loans to customers in both the private and public sectors. The Bank's primary lending areas are: * Public Sector & Utilities * Infrastructure & Project Finance * Industry * Services & Consumer * Financial Institutions In addition, NIB offers loans that provide financial incentives to help companies reach their sustainability objectives. The Bank acquires the funds for its lending by borrowing from international capital markets.

Structure and management

Each member country designates a Governor to the Bank's Board of Governors, which is the supreme decision-making body. The Control Committee is the Bank's supervisory body. The Board of Directors makes policy decisions concerning the operations and approves the financial transactions proposed by NIB's President. Presidents: * Bert Lindström, Sweden, 1975 – 1986 * Jannik Lindbæk, Norway, 1986 – 1994 * Jón Sigurðsson, Iceland, 1994 – 2005 * Johnny Åkerholm, Finland, 2005 – 2012 * Henrik Normann, Denmark, 2012 – 2021 * André Küüsvek, Estonia, 2021 – present The Bank has a staff of approximately 230 employees, both from the member region and beyond. NIB's headquarters are located in Helsinki, Finland, and English is the official language of the Bank.

References

{{Authority control Supranational banks Multilateral development banks International banking institutions Nordic organizations 1970s establishments in Europe