June 16, 2006
Nordic Investment Bank (NIB) renews its strategy
The Nordic Investment Bank, which is celebrating its 30th anniversary this year, is renewing its strategy. The Bank will focus particularly on strengthening the competitiveness of the economies and businesses in the Baltic Sea region as well as financing environmental projects. For example, energy, logistics and environmental technology will comprise priority areas of the Bank's activities. In the neighbouring regions of the member countries, the Bank will focus on financing projects especially in Russia and Ukraine. The Bank will also further develop its long-term lending programmes targeting small and medium-sized enterprises (SMEs).
"The guiding principle when renewing NIB's strategic focus has been to support the economies and business climate of the Baltic Sea region. We see our role in the future as a "Baltic Sea bank". With sharper focus we will further enhance our competence in the selected areas. This will increase our value added to our customers and reduce the risks of both the Bank and its customers," explains NIB President and CEO, Johnny Åkerholm. "Focusing strategically on certain countries and sectors is inevitable. We cannot have an equal presence in all places and in all sectors", he says.
In its 30 years of operation, the Nordic Investment Bank has signed 1,745 loan agreements with a total nominal value of EUR 26.3 billion. Of these loans, approximately 80% (in terms of value) have been signed with customers in the Bank's member countries. 36% of the total loan amount has been allocated to manufacturing, 22% to the energy sector and 15% to transport and communications. Almost 80% of the loans have been agreed with borrowers in the private sector.
About PKC Group
NIB is a multilateral 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
NIB President and CEO, Johnny Åkerholm
tel. +358 9 18001 or
Communications Manager, Jamima Löfström
tel. +358 40 581 7208 or
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