The ratings on Finland-based Nordic Investment Bank (NIB) reflect the strong membership support granted by the eight member countries and the bank's high asset quality, which has led to historically stable and predictable profitability. These strengths are offset by the bank's regionally concentrated loan portfolio and high leverage ratios. NIB was founded in 1975, with the aim of strengthening and developing Nordic cooperation and promoting growth in member countries by financing long-term projects in both the private and public sectors. It now focuses on competitiveness and the environment. In 2011, 89% of loan disbursements went to four areas of focus: energy; the environment; transport; and logistics/communications/innovation. Since its establishment, NIB has enjoyed the unwavering support of member governments. At year-end
