The ratings on the Nordic Investment Bank (NIB) reflect: excellent membership support; prudent statutory and policy limits on the bank's operations, gearing, and liquidity; and strong asset and capital quality. Founded in 1976, with the aim of strengthening and developing Nordic cooperation, and promoting growth in the Nordic countries by means of financing long-term projects in both the private and public sectors, NIB's membership support remains robust. The recent increase in authorized capital, to €4 billion in January 1999 from €2.8 billion substantially increased the bank's lending capacity and is indicative of the continued strength and depth of member support. Member guarantees of the bank's international Project Investment Loan (PIL), Baltic Investment Loan (BIL), and Environmental loan (MIL) facilities underpin
