NIB opens temporary lending facility to support liquidity

NIB will temporarily increase its lending activities in response to the effects of the financial crisis in its member countries. A new lending facility, the NIB Refinancing Facility (NRF), of EUR 500 million has been created for this purpose.

“The economic and financial crisis has adversely affected the supply of credit in the Nordic-Baltic region. The consequences are felt especially in NIB’s focus sectors, which are vital for long-term sustainable growth. In this situation, institutions such as NIB, which continue to have good access to funding, can provide an important, complementary role in maintaining critical financing flows,” says Johnny Åkerholm, NIB President and CEO.

The NIB Refinancing Facility is aimed at member country borrowers. Loans would be targeted at counterparts which have refinancing needs for recently completed projects. Loans under the facility will be made on normal terms but the maturities can be shorter, starting from three years and up.

Loans would be granted within the mandate and risk framework of the Bank. The mandate fulfilment is enhanced by the support that the facility provides to counterparts facing constraints in obtaining similar financing from other sources. Loans may be provided directly by NIB or through intermediary banks.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Harro Pitkänen, Senior Director, Acting Head of Lending, at + 358 10 618 0246,

Jukka Ahonen, Director, Head of Communications, at +358 10 618 0295,