Cooperation

We cooperate with other financial institutions, and participate in international and regional forums to promote sustainable finance and the development of common standards and principles for impact reporting.

NIB has established cooperation with international financial institutions (IFI) such as the Asian Development Bank, African Development Bank, Council of Europe Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Inter-American Development Bank, as well as the IBRD, IDA, and IFC within the World Bank Group.

Furthermore, NIB has cooperation agreements with three regional multilateral banks: the Black Sea Trade & Development Bank, the Central American Bank for Economic Integration CABEI and the Development Bank of Latin America CAF. Through these institutions, NIB can operate also in countries where it has no agreement on financial cooperation.

In addition to financing projects directly with larger companies, NIB channels financing to small and medium-sized enterprises (SMEs) through financial intermediaries. Loan programmes with intermediaries broaden the geography of NIB’s operations, as they allow the Bank to reach companies with specific knowledge of national and regional markets.

In NIB’s member countries, commercial banks usually act as intermediaries. Outside the member countries, NIB cooperates with financial intermediaries, mainly state-owned development banks, and with governmental intermediaries, such as ministries of finance and economy.

The Nordic Development Fund (NDF) is an IFI owned by the five Nordic countries. It focuses on the nexus between climate change and development in lower-income countries as well as countries in fragile situations.

The Nordic Environment Finance Corporation (Nefco – The Nordic Green Bank) is an IFI owned by the Nordic countries. It finances environmental and climate-related projects of particular interest to the Nordic region, with focus on Eastern Europe.

Participation in various networks allows NIB to learn and share experiences on climate risks as well as environmental, social and governance (ESG) factors. The Bank is committed to continuously integrate ESG factors in its investment analysis and decision-making processes based on the best available practices.

The Bank’s policies and activities are evaluated by independent ESG data and research providers. The unsolicited ratings allow NIB to track its performance and identify areas to improve. Below are NIB’s most recent scores as rated by different ESG rating agencies.

We actively participate in global partnerships and networks. NIB cooperates with other international financial institutions and organisations to develop sound, coordinated and effective ways of promoting sustainable finance. In this context, the Bank participates in a number of international and regional forums to develop common standards and principles for greening the financial system. We are committed to transparently report our impact according to international frameworks and standards.