NIB sees stable Baltic economies

  • 2006-11-01
  • Staff and wire reports
VILNIUS - The Nordic Investment Bank (NIB) provided 53 million euros worth of loans to Lithuania in the first eight months of this year, up 13 percent compared with the end of last year.

The transport and communications sector remain the largest share of NIB's loans in Lithuania, accounting for 25 percent of the outstanding loans, the bank said in a statement.
The total amount of the bank's loans in the Baltic states increased by 2 percent to 368 million euros during the last eight months.

"The stability of NIB's lending in the Baltic countries demonstrates steady demand for long-term loans in their economies," said Johnny Akerholm, bank president and CEO.
The bank has financed many projects in the Baltic states including the recently completed Finnish-Estonian energy link, a 32 million euro loan for a hospital in Tallinn, and programs to foster greater participation of women in business.
NIB is a multilateral financial institution owned by eight member countries, including Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Baltic states became members in 2005.