The extremely strong capacity of Nordic Investment Bank (NIB) to honor its financial obligations in a timely manner reflects the strong membership support of its member countries, its robust liquidity position, and 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 member countries by means of financing long-term projects in both the private and public sectors. Since then, NIB has enjoyed the consistent support of member governments. Authorized capital was €4.1 billion (US$4.99 billion) as of January 2005, of which €409 million had been paid in by April 2005. Member support also manifests itself through explicit guarantees of NIB's international
