The change broadens NIB’s remit at a time when geopolitical risks, intensifying global competition and climate change are placing new demands on the region. It also reflects the bank’s view that economic prosperity and security have become increasingly dependent on one another.
NIB began operating in 1976 to finance projects of shared Nordic interest. During the past two decades, its work has centred on productivity and environmental progress across its Nordic and Baltic member countries.
The revised strategy is built around three interconnected priorities: competitiveness, sustainability and resilience. NIB defines resilience as the capacity to withstand, adapt to and recover from disruptions and crises, while avoiding them where possible.
André Küüsvek, president and chief executive officer of NIB, said: “For fifty years, NIB has adapted its financing to the needs of the region it is serving. This ability to evolve has enabled the Bank to remain a relevant and trusted partner to its member countries through every era.”
The addition of resilience gives defence and security a clearer place within NIB’s wider economic and environmental mission. It is intended to support a Nordic-Baltic region that can sustain prosperity while responding more effectively to geopolitical and other disruptions.
Küüsvek said the bank no longer viewed competitiveness, sustainability and resilience as separate challenges. “Prosperity underpins security, security safeguards prosperity, and both ultimately rely on a livable environment.”
NIB plans to implement the strategy by drawing on the financial strength of its AAA/Aaa credit ratings and investing in its workforce and digital capacity. The bank said it would continue seeking to deliver impact, reliability and added value for its clients, investors and member-country owners.
