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, although some deterioration was evident in 2008. These strengths are offset by the bank's regionally concentrated loan portfolio and high leverage and debt ratios. 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. It is nowadays focusing on supporting competitiveness and the environment. Of the disbursements, 76% were in 2009 destined to four focused sectors: energy; environmental; transport; logistic, communications, and innovation.
