The extremely strong capacity of Nordic Investment Bank (NIB) to honor its financial obligations in a timely manner reflects the strong membership support of NIB's sovereign members, its robust liquidity position, as well as its very high asset quality which leads to stable and predictable profitability. NIB was founded in 1975, 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. Since then, NIB has enjoyed the unerring support of member governments. Authorized capital was last increased to €4 billion in 1999, of which €404 million has been directly paid-in by members at year-end 2003. Member support also manifests itself through members'
