The FINANCIAL — At its annual meeting, the Nordic Investment Bank’s Board of Governors approved the Bank’s annual accounts for 2015. The Board also decided to undertake an adjustment and alignment of NIB’s authorised capital, to be completed by next spring.
The Board of Governors approved NIB’s annual accounts for 2015. The Bank recorded a profit of EUR 215 million. EUR 55 million will be available as dividends to the member countries.
The total amount of loans agreed during the year reached nearly EUR 2.8 billion and was allocated to projects that contribute to the sustainability and prosperity of the Nordic and Baltic region, according to NIB.
The Board of Governors has also approved a roadmap for the decision on adjustment and alignment of the Bank’s authorised capital. The purpose of the alignment is that each member country’s share in percentage of paid-in capital would be equal to its share of callable capital and authorised capital. Also, the two statutory guarantee schemes would be realigned in the same manner. The final decision on adjustment and alignment will be taken by the Board of Governors in autumn, with the intention of implementing the change by end of January 2017, subject to approval in the member countries.
“The results show that the 40-year-old Nordic Investment Bank provides both societal and financial return to its owners. In many ways, the projects the Bank finances can be seen as our region’s showcases. They portray countries that are cooperating in order to invest in a sustainable future”, says Sven Sester, Estonia’s Minister of Finance and Chairman of the Bank’s Board of Governors.
The Board of Governors, in which the member countries are represented at the ministerial level, appointed Siv Jensen, Norway’s Minister of Finance and the Governor for Norway, as its Chairman for the period from 1 June 2016 to 31 May 2017.
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