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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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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 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 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 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 and Citadele fund Baltics’ first gene therapy manufacturing facility

The Nordic Investment Bank (NIB), Citadele bank and the Lithuanian biopharmaceutical company UAB Celltechna signed a ten-year financing agreement of EUR 37 million for a gene therapy product facility in Vilnius. NIB will provide a EUR 22.5 million loan, and Citadele will extend a EUR 14.5 million loan for the project.The new Gene Therapy Centre will be the first and so far the only one of its kind in the Baltic countries. It will provide facilities for both research and manufacturing processes, supporting the development of genetic disease treatments. Spanning approximately 8,000 square

NIB finances new central hospital in Hämeenlinna

The Nordic Investment Bank (NIB) and the Wellbeing Services County (WSC) of Kanta-Häme have signed a 25-year uncommitted credit facility for the new central hospital in Hämeenlinna, Finland.NIB’s financing of up to EUR 100 million supports the construction of the 97,000-square-metre Assi facility in the current hospital campus in Ahvenisto. The new building will facilitate 390 hospital beds, have a work force of around 1,900 and is expected to accommodate around 211,000 visitors from the Kanta-Häme region annually. The new hospital will modernise treatment processes, enhance logistics,

Lithuania to get new electric trains under NIB-EIB-LTG Link deal

The Nordic Investment Bank (NIB), the European Investment Bank (EIB) and LTG Link have signed a financing agreement for the purchase of electric and battery-powered trains.NIB and the EIB will provide loans of EUR 100 million each to finance nine electric and six battery trains, which will replace about one-third of the passenger train fleet. The new trains will not only be more comfortable than diesel trains, but will also reduce journey times. Low-floor cars will make boarding easier for older people, pregnant women, parents with small children and all passengers with reduced mobility.

NIB finances Latvia’s air traffic navigation investments

The Nordic Investment Bank (NIB) has signed a nine-year loan with Latvian air transport infrastructure company Latvijas Gaisa Satiksme (LGS) to co-finance its 2024–2026 investment programme for air navigation advances.The EUR 25 million loan has been provided to upgrading and expanding the air traffic control systems, including the construction of a new Air Traffic Control (ATC) Tower and an advanced air navigation system. These enhancements will improve air traffic control safety, reduce fuel consumption, lower emissions and minimise noise, aligning with the objectives of the European

NIB finances renewable energy supply for green ammonia production in Lithuania

The Nordic Investment Bank (NIB) and UAB LT Energija have signed a EUR 100 million loan for a 264 MW wind farm in Pagėgiai, Lithuania. The European Union supports EUR 43.5 million of the loan under the NIB's InvestEU Framework Operation on Clean Energy Transition.The 21-year maturity loan will finance the construction of 40 wind turbines, as well as the associated civil and electrical infrastructure. The Pagėgiai wind farm will significantly increase energy generation capacity in Lithuania, which currently imports the majority of its power consumption. It will generate an estimated 602

NIB Governors approve annual results and dividends, invite to strengthen resilience

On 22 March, the Board of Governors of the Nordic Investment Bank (NIB) held its annual meeting in Tallinn. The Governors approved the Bank’s annual accounts for 2023 and a payment of EUR 63 million as dividends to the Nordic and Baltic owner countries. The Board, consisting of member country ministers of finance, industry and economic affairs, also offered guidance for NIB’s priorities towards a sustainable, innovative and resilient Nordic-Baltic region. In 2023, NIB maintained strong disbursement levels and paid out EUR 3.4 billion in loans. Continued demand for the Bank’s long-term

InvestEU: NIB lends to zero and low carbon vessels with infrastructure in Norway

The Nordic Investment Bank (NIB) signs a 7-year loan to co-finance ferry and express boat operator Norled AS’ investments in zero and low carbon vessels and related land-based infrastructure in Norway during 2024-2030. The InvestEU programme supports the loan under NIBs Framework Operation Green Mobility and Transport approved by the Investment Committee.This NOK 500 million (EUR 43.4 million) loan will help Norled finance the extension of its low-carbon fleet. This is NIB’s first InvestEU loan in Norway. Norway is electrifying its transport network at a rapid pace, aiming to cut 50% of

NIB and Nooa Savings Bank to support more SMEs in Finland

The Nordic Investment Bank (NIB) and the Finnish Nooa Savings Bank Ltd have signed a EUR 10 million loan agreement to finance small and medium-sized enterprises (SME) in Finland. The seven-year maturity loan will be on-lent to entrepreneurs, micro companies and small businesses, supporting Nooa Saving Bank’s strategic objectives. Currently, the majority of the bank’s loan book consists of retail loans, but the company is planning to grow its SME banking business. “NIB’s partnership with Nooa Savings Bank will allow us to extend our lending to smaller Finnish companies that we would

NIB lends to Varanger Kraft´s hydrogen and power grid projects

The Nordic Investment Bank (NIB) has signed a seven-year loan agreement with Norwegian utility company Varanger Kraft to upgrade their hydrogen facility for commercial operations and improve the electricity distribution network in the Varanger region in Norway.A segment of the NOK 50 million (EUR 4.3 million) loan will co-finance Varanger Kraft´s Berlevåg hydrogen production facility. This facility encompasses a 2.5MW electrolyser, hydrogen compressors, and a storage tank, aiming to produce hydrogen for regional use by late 2024. The potential beneficiaries of this hydrogen output span

NIB lends to Tallinn wastewater infrastructure developments

The Nordic Investment Bank (NIB) and Estonia’s largest water utility Tallinna Vesi AS have signed a 15-year loan agreement to improve Tallinn’s wastewater management and stormwater collection infrastructure with an aim to enhance system maintenance, efficiency, and energy savings.The EUR 40 million loan will co-finance Tallinna Vesi’s 2023-2025 investment programme to renovate approximately 45 kilometres of Tallinn's dated wastewater networks, an extension of the stormwater collection system, and an overhaul of the wastewater treatment plant. A smaller part of this programme is the

NIB funds Estonia’s investments in cross-border air navigation services

The Nordic Investment Bank (NIB) and the Estonian Air Navigation Services (EANS) have signed a EUR 13 million loan for the company’s investment programme during 2022-2025.The programme includes upgrades to air traffic management systems, IT development, remote air control towers, communication systems and other advancements to improve the efficiency of air navigation services. “The past two years have been challenging. To meet the demand for providing air navigation services in the most efficient, safe and sustainable way, we need capital and smart investments towards the future,” says

NIB signs 10-year loan to strengthen Denmark’s network resilience

The Nordic Investment Bank (NIB) agrees a 10-year loan agreement with the Danish TSO Energinet to finance the installation of new substations and the refurbishment or upgrade of existing substations in Denmark between 2023 and 2025.The DKK 1 billion (EUR 134.4 million) loan will co-finance the installation of ten new substations and the refurbishment or upgrade of 45 existing substations in Denmark, in accordance with the government approved Energinet investment and financing plan for 2023-2025. The total amount to be invested in new- and re-furbished substations during 2023-25 is DKK 6.

NIB continues financing hearing healthcare R&D

The Nordic Investment Bank (NIB) and the Danish global hearing healthcare company Demant A/S agree to a new 7-year loan agreement of DKK 375 million (EUR 49.2 million) to finance the company’s advancement in hearing solutions and technology research and development.NIB’s loan will co-finance Demant’s research and development programme for the 2021-2022 period. Demant’s R&D focus on hearing healthcare and audio technology. Demant has an extensive and comprehensive R&D programme, partnering with different universities, research centers and companies primarily in Denmark. The Bank has provided

NIB provides 7-year R&D loan to Lantmännen

The Nordic Investment Bank (NIB) has provided a 7-year loan to Lantmännen Ek. För., a Swedish agricultural cooperative, to co-finance its research and development expenditures during 2022-2024.The EUR 45 million loan will be used to finance R&D investments in the agriculture sector, with a focus on improving productivity and developing products and services, within animal husbandry and crop cultivation. Additional areas are development of food products, particularly oat-based products, and bio-energy investments, such as converting lignocellulosic biomass to ethanol and materials from

NIB and Sparebanken Møre fund SMEs in Norway

The Nordic Investment Bank (NIB) and the Norwegian Sparebanken Møre have launched a six-year loan facility for onlending to small and medium-sized enterprises (SMEs) in the savings bank’s market area Nordvestlandet.The NOK 500 million (EUR 45.66 million) loan programme will co-finance projects that will increase the competitiveness of SMEs in various sectors such as real estate, fishing, services and offshore supply. “I am pleased to continue our partnership with Sparebanken Møre that we started in 2002 which is essential for NIB in reaching out to the many businesses in Nordvestlandet.

NIB lends to rebuild Ellevio’s electric substations in Stockholm

The Nordic Investment Bank (NIB) signs a 10-year loan with the Swedish electricity distributor Ellevio AB to rebuild and increase the capacity of two existing switchgear stations in Skanstull and Värtan in the City of Stockholm, Sweden.The SEK 1 billion (EUR 94.10 million) loan is earmarked for financing new station buildings, indoor GIS switchgears for 110kV and 220kV, new transformers and reactors, new cables, and a new control and protection system. Combined, the total expected distribution capacity from the two switchgear stations will increase by around 800 MW, which represents a 40%

Strong demand for NIB’s financing continues

During the first nine months of 2022, the Bank signed a total of EUR 2,613 million in new loans and disbursed EUR 2,882 million, compared to EUR 880 million and EUR 1,646 million respectively in the same period in 2021.The new loans will finance green construction, digitalisation, acquisitions and research and development. “Europe must step up its energy resilience and accelerate its transition to a low-carbon economy. In the home region of the Nordic Investment Bank we need to push even harder to build this resilience in a sustainable way.  As an international financial institution, it

NIB finances digital transition in Denmark

The Nordic Investment Bank (NIB) and the Danish provider of digital infrastructure TDC NET A/S have signed a EUR 110 million loan agreement to finance the company’s fibre rollout investments in 2022–2024.  The demand for highspeed broadband continues to rise. Today, TDC NET can deliver fibre to more than 0.5 million addresses in Denmark, and new ones are added all the time as they expand their fibre network. TDC Net’s goal is to be able to deliver fibre to one million addresses by mid-twenties. The company’s investments will result in future-proofing the digital infrastructure.  “With

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