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, alt ...

founded in 1975 by the five

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

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

Baltic states The Baltic states or the Baltic countries is a geopolitical term encompassing Estonia, Latvia, and Lithuania. All three countries are members of NATO, the European Union, the Eurozone, and the OECD. The three sovereign states on the eastern co ...

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

Helsinki Helsinki () is the Capital city, capital and most populous List of cities and towns in Finland, city in Finland. It is on the shore of the Gulf of Finland and is the seat of southern Finland's Uusimaa region. About people live in the municipali ...

, 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 ...

Strategy

NIB offers loans to customers in both the private and public sectors. The Bank's primary lending areas are: * Connectivity & Consumer * Industry & Real Estate * Project & Structured Finance * Public Sector & Utilities * Financial Institutions In addition, NIB offers sustainability-linked 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 250 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