The ratings on the Nordic Investment Bank (NIB) reflect robust membership support; conservative 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 private and public sectors, NIB continues to enjoy unerring support from member governments. An increase in authorized capital in January 1999 to €4 billion, €30 million of which was directly paid-in by members, was indicative of the continued strength and depth of their support. Member guarantees for the bank's international Project Investment Loan (PIL), Baltic Investment Loan (BIL), and Environmental Loan (MIL) facilities
