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NIB is an international 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.

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Jacob Kooter Laading appointed new Chief Risk Officer

Jacob Kooter Laading has been appointed as Vice-President, Chief Risk Officer, and Head of Risk & Compliance of the Nordic Investment Bank (NIB). He will join the Bank’s Executive Committee at the headquarters in Helsinki on 1 April 2025. Jacob Kooter Laading, a Norwegian national, brings extensive experience in risk management and quantitative analysis.Jacob Kooter Laading has held senior roles at Norway’s largest financial services group DNB, where he among others has been responsible for endorsement of large capital markets transactions, market and liquidity risk management, the

NIB finances 20 metro trains for City of Oslo

The Nordic Investment Bank (NIB) has signed a loan with the City of Oslo to finance the acquisition of 20 new metro trains for the Fornebu Metro Line expansion. The Fornebu Metro Line is an extension of the existing metro network, from Majorstuen to Fornebu, and is being constructed in collaboration between the City of Oslo and Akershus County Municipality.The NOK 3.2 billion (EUR 270 million) loan facility will cover Oslo's full share of the metro trains procurement costs, accounting for approximately 11% of the total costs for the Fornebu Metro Line expansion project. The procurement is

NIB finances upgrade of hydropower plant in Western Norway

The Nordic Investment Bank (NIB) has signed a 7-year loan agreement with power producer Sunnhordland Kraftlag AS (SKL) to finance the upgrade of the Løkjelsvatnet hydropower plant in Etne, Vestland County, Norway. The EUR 42.8 million (NOK 500 million) loan helps prolong the plant's lifespan and increase its capacity and production.The Løkjelsvatnet powerplant, which had reached the end of its technical and economic lifespan, has been reconstructed to increase its installed capacity from 29 MW to 60 MW. The upgrade, which was finalised in October this year, has resulted in an additional

NIB and Westra Wermlands Sparbank sign third loan to support SMEs and environmental projects in Sweden

The Nordic Investment Bank (NIB) and Westra Wermlands Sparbank have signed a SEK 150 million (approximately EUR 13 million) loan agreement to finance small and medium-sized enterprises (SMEs), smaller mid-caps (SMCs) and environmental projects in Sweden. The seven-year loan programme will be on-lent to Westra Wermlands Sparbank’s customers in Värmland in Sweden. SMEs and SMCs are often suppliers of larger companies, and they play a crucial role in the economic activity and employment in the region. “Providing NIB’s long-term financing to Westra Wermlands Sparbank allows us to extend

NIB finances Finnish shipyard company Meyer Turku Oy

The Nordic Investment Bank (NIB) has joined a financing facility for the Finnish shipyard company Meyer Turku Oy (Meyer) with a EUR 102 million participation. The two-year facility will finance the construction of ICON 3 cruise ship. The shipyard in Turku is directly and indirectly important for Finland’s marine cluster through subcontractors, that are mostly Finnish companies. Its employment effect is significant. “Finland’s marine cluster is strong, and the Turku shipyard is an integral part of this. In addition to cruise ships, Meyer and the Turku shipyard also has expertise in

NIB and Faerch agree on sustainability-linked financing

The Nordic Investment Bank (NIB) and Faerch Group Holding A/S, the Danish supplier of thermoformed food packaging, have signed a ten-year sustainability-linked loan. The loan is connected to Faerch’s technology development and circularity targets, driving the transition to a net-zero and circular food packaging industry.The EUR 100 million loan will co-finance Faerch’s expansion and development of recycling facilities in Europe. The sustainability linked loan includes two key performance indicators (KPIs), with targets linked to avoided CO\2\e emissions and recycling yield, a measure of

NIB in Q1-Q3: Stable financial results with high increase in new signed lending

During the first nine months of 2024, the Nordic Investment Bank (NIB) delivered net profit of EUR 198 million (EUR 195 million in the same period in 2023) and disbursed EUR 2.4 billion (EUR 2.0 billion). NIB’s new signed lending increased to EUR 3.2 billion compared to EUR 1.6 billion the same period last year.During the third quarter, new lending was distributed across various sectors and countries and will finance investments in energy sector, digital transformation, and research and development, for example.“Our financial performance and high level of activity indicates a good

NIB lends to two new solar parks in Finland

The Nordic Investment Bank (NIB) has signed a EUR 25 million four-year loan with Utajärven Solarpark Oy & Skarta Energy Solarparks Oy. The loan will finance two solar park projects and contribute to Finland’s decarbonisation journey. The InvestEU programme supports the loan under NIB’s Framework Operation on Clean Energy Transition. The loan will finance solar parks in Utajärvi in Northern Ostrobothnia and in Pälkäne in the Pirkanmaa region. Together, the two renewable energy projects will have the capacity to produce approximately 108 megawatts (MW) of electricity, generating about 99

NIB supports Nokia’s 5G and 6G R&D investments

The Nordic Investment Bank (NIB) has signed an 8-year loan agreement to co-finance Nokia Corporations’s investments in research and development in its Mobile Networks business group between 2024 and 2026.The EUR 250 million loan will support Nokia’s efforts in developing 5G and 6G hardware, software, and systems-on-chip (SoC) across its Finnish locations in Oulu, Tampere and Espoo. Nokia’s commitment to innovation is further supported by strong collaboration with Finnish universities and research institutions. These initiatives aim to enhance productivity and drive advances in next-

NIB and Rīgas Siltums continue cooperation for efficient heating

The Nordic Investment Bank (NIB) and the heating utility Rīgas Siltums have signed a EUR 18 million loan to finance the company’s investments in network infrastructure upgrades.The fifteen-year loan supports the company’s investment programme in district heating network expansion and renovation during 2023–2024. The programme’s total investment costs amount to EUR 24 million. “We are pleased that our transformation aimed at improving and developing the city’s centralised energy infrastructure is backed by strong support from the Nordic Investment Bank. This funding will contribute to the

NIB funds the construction of a weatherproof electrical grid and thermal battery in the Lappeenranta region

The Nordic Investment Bank (NIB) and Lappeenrannan Energia Oy have signed a EUR 15 million loan agreement to finance the Finnish energy company’s investments in the construction of a weatherproof electrical grid and the development of a district heating system through thermal energy storage. The investments will help the company achieve CO\2\ neutrality by 2026. The 12-year-maturity loan will allow Lappeenrannan Energia, the energy and water supply company in Lappeenranta, to improve its security of supply. Through the loan, the company will improve its security of supply by investing in

NIB and Epiroc agree on sustainability-linked financing

The Nordic Investment Bank (NIB) and Epiroc AB, the Sweden-based global mining and construction equipment manufacturer and service provider, have signed a ten-year USD 150 million (approx. EUR 136 million) sustainability-linked loan. The loan is connected to Epiroc’s climate targets, which support the decarbonisation of the mining industry.Epiroc aims to significantly reduce absolute carbon emissions from its operations and the use of its sold products, as well as to transform its product offering to include a full range of emission-free alternatives by 2030. The targets related to its own

High-level dialogue: NIB and CEB to strengthen cooperation on social development

On 25 September 2024, the top management of the Nordic Investment Bank (NIB) and the Council of Europe Development Bank (CEB) met in Paris to discuss future collaboration between the two institutions. The visit took place in the margins of the NIB’s Board of Directors meeting hosted at the CEB Headquarters.The two banks discussed a wide range of topics, including the impact of the war in Ukraine on their operations, the need to invest in sustainable growth and resilience, as well as enhancing social development. The CEB and NIB have a good and longstanding relationship, based on a

NIB finances Å Energi’s grid investments in Southern Norway

The Nordic Investment Bank (NIB) and Å Energi AS have signed a 10-year loan to enhance and strengthen the distribution networks in the counties of Agder and Buskerud in Southern Norway, with Glitre Nett serving as the grid company within the Å Energi group.The NOK 1 billion (EUR 85 million) loan will help build new grid lines, transformer stations and refurbish existing ones in the counties of Agder and Buskerud, including Bjorbekk, Ramslandsvågen, Tollboden, Skollenborg, Spikkestad and Sundland. The investments will be made during 2024-2026. The 22 projects to be co­financed by NIB

NIB signs sustainability-linked loan with Kesko

The Nordic Investment Bank (NIB) and Finnish Kesko Oyj have signed a EUR 150 million 7-year loan linked to Kesko’s goal of reducing greenhouse gas emissions and food waste. The loan will support Kesko’s ambition to minimise the impact on the climate and nature through own operations and its value chain. The interest rate margin on the sustainability-linked loan is tied to three key performance indicators (KPIs). The agreed KPIs are part of Kesko’s wider sustainability strategy. “The trading sector has a significant impact on our everyday life and on the environment, and the industry’s

NIB delivers strong half-year financial results

During the first six months of 2024, the Nordic Investment Bank (NIB) signed a total of EUR 2,642 million in new lending and disbursed EUR 1,896 million, compared to EUR 1,241 million and EUR 1,670 million respectively in the same period in 2023. NIB had a strong first half of the year. The net profit for the period increased by 12.3%, from EUR 127 million to EUR 143 million, compared to the same period in 2023. The increase in net profit is mainly due to higher net interest income. “The Bank’s financial results continued the positive trend we saw during the first quarter of the year.

NIB and Ericsson continue to advance wireless technology through R&D

The Nordic Investment Bank (NIB) and the Swedish telecommunications company Ericsson have signed a USD 108.16 million (EUR 100 million) loan agreement for the development of enhanced wireless technology.This is NIB’s second loan for Ericsson’s investments in research and development (R&D) between 2023 and 2025. The investments support the company’s plan to reach net zero targets by 2040 through reduced energy consumption in the mobile networks globally. The new loan takes NIB’s overall financing to Ericsson to over EUR 800 million. Since 1979, the Bank has provided the company with

NIB finances data centres in Sweden

The Nordic Investment Bank (NIB) has signed a loan with EcoDC AB (EcoDataCenter). The agreed SEK 280 million (approx. EUR 24 million) five-year loan will finance the expansion of the Falun data centre in Sweden. The loan will make it possible for EcoDataCenter to increase the capacity to offer secure and sustainable data centre solutions to its customers. Data usage is increasing rapidly, especially since the recent evolution of Artificial Intelligence (AI), which has made the Nordics a preferred region for data centre services. The agreed loan will finance the expansion of 24 MW by 2025

NIB and Føroya Banki continue to support SMEs and environmental projects in the Faroe Islands and Greenland

The Nordic Investment Bank (NIB) and the Faroese Føroya Banki have signed a DKK 300 million (EUR 40.2 million) loan agreement for on-lending to small and medium-sized enterprises (SMEs) and small mid-caps, as well as environmental projects in the Faroe Islands and Greenland. The 7-year loan facility will be used to finance SMEs and small mid-caps in various sectors, as well as to support environmental projects in the Arctic region. Føroya Banki will ensure that the projects they finance will fulfill NIB’s eligibility requirements. “Supporting the development of the Arctic region is an

NIB and Sparbanken Nord sign third loan to support SMEs in Northern Sweden

The Nordic Investment Bank (NIB) and Sparbanken Nord have signed a SEK 200 million (approximately EUR 18 million) loan agreement to finance small and medium-sized enterprises (SMEs), smaller mid-caps (SMCs), and environmental projects in Sweden. The seven-year loan programme will be on-lent to SMEs and SMCs in Norrbotten, many of which are subcontractors to larger companies in the region. “Sparbanken Nord is an important local lender in the Arctic region in Sweden, and we are pleased to continue our cooperation by providing access to long-term and stable financing that benefits

NIB and Luminor finance Pienas LT production expansion

Pienas LT, one of the largest dairy cooperatives in the Baltic states, is expanding the capacity of its milk protein production facility located in the Kaunas Free Economic Zone (FEZ). Pienas LT plans to invest EUR 50 million to modernise and expand production. The Nordic Investment Bank (NIB) will finance EUR 20 million of the investments, while more than EUR 30 million in financing will be provided by Luminor Bank.After the modernisation and expansion of the Pienas LT plant, the production capacity is set to double from 650 tonnes to 1,300 tonnes of milk per day. More than 150 new jobs

NIB signs sustainability-linked loan with Electrolux Group

The Nordic Investment Bank (NIB) and AB Electrolux have signed a USD 150 million (approximately EUR 140 million) eight-year sustainability-linked loan. Electrolux Group was one of the first 100 companies worldwide to sign up for the Science Based Targets initiative (SBTi) and get their carbon emission reduction targets approved by SBTi back in 2018. The targets were fulfilled in 2022, three years ahead of target. New carbon emission reduction targets were approved by SBTi in 2023 in which Electrolux Group aims to reduce carbon emissions from own production facilities (Scope 1&2) by 85%

NIB finances fibre optic broadband investments in Norway

The Nordic Investment Bank (NIB) signs a 7-year loan with Gudbrandsdal Energi Holding As for the construction of two optical fibre broadband projects in the region of Ringebu, Nord- and Sør-Fron, Norway.The NOK 125 million (EUR 10.7 million) loan will help finance the fibre-roll out project NKOM 2 to 840 addresses, and the HFC2 roll-out to 5 300 clients. The projects are scheduled to be ready by mid-2024, planning for additional future network rollouts. “The project supports digitalisation enabling smart homes in remote areas while the local grid company can simultaneously digitise the

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