NIB – Promoting sustainable growth
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Transcript of NIB – Promoting sustainable growth
NIB – Promoting sustainable growth
Saint-Petersburg September 29, 2010
Mr. Igor Kovtun, General Representative in Russia
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IcelandIceland
NorwayNorway
DenmarkDenmarkLithuaniaLithuania
LatviaLatvia
EstoniaEstonia
FinlandFinland
SwedenSweden
Northern Europe's International Financial Institution
Nordic and Baltic countries as owners
Started activities in 1976
Baltic countries joined in 2005 as owners
AAA/Aaa credit rating
Lending in member countries and selected focus countries
Headquarters in Helsinki
Financial performance
3
EUR million 2009 2008
Net interest income 219 212
Core earnings** 192 189
Profit 324 -281
Loans disbursed 1,954 2,486
New debt issues 4,137 4,681
Loans outstanding 13,763 13,063
Total assets 22,423 22,620
Operational Net liquidity 3,499 3,691
Equity 2,050 1,730
** Core earnings consist of the profit before adjustments to hedge accounting, realised and unrealised gains and losses of the trading portfolio and credit losses and reversals of these
April 2010
Mission and strategy NIB promotes sustainable growth by providing long-term
complementary financing to
• projects that strengthen competitiveness• projects that enhance the environment
NIB puts particular emphasis on projects involving investments in the following sectors
• environment• infrastructure• energy• innovation
NIB finances
• large investments by the corporate sector, infrastructure projects, PPPs, investments improving environment in e.g. municipal sector.
• small and medium-sized enterprises through financial intermediaries.
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Long-term financing
Co-financing normally up to 50% of the total project cost;
Close cooperation with other international financial institutions as well as commercial banks, export credit institutions and development assistance organisations;
Long-term lending instruments:
• Sovereign loans to the state or against state guarantees (15-25 years)
• Subsovereign loans directly to municipalities (10-20 years)• Corporate loans (5-15 years)• Limited recourse financing including PPP-financing (5-15 years)• SME financing through financial intermediaries (5-12 years)• Grace period up to 5 years
Institutional strengthening in connection with specific projects;
Support for project structuring and technical assistance.
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IcelandIceland
NorwayNorway
DenmarkDenmarkLithuaniaLithuania
LatviaLatvia
EstoniaEstonia
FinlandFinland
SwedenSweden
NIB in Russia
Northwest Russia is natural focus area for environmental projects for NIB.
Agreement with the Government of the Russian Federation for financial co-operation since 1997.
"No objection" by the Ministry of Finance of the Russian Federation to all loans from NIB to Russian borrowers.
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Enhancing the environment in Russia All projects considered for
financing undergo assessmentof potential environmental impact.
The Northern Dimension Environmental Partnership (NDEP) – grant financing.
Financed projects include waste water treatment by Vodokanal of St. Petersburg, environmental investments by two Russian pulp and paper factories, pipeline includes e.g. municipal investments in Novgorod and Kaliningrad, Petrozavodsk.
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Strengthening competitivenessProjects in the following sectors and areas of economy: Infrastructure; incl. energy,
transport, telecoms, social infrastructure
Strategic capital investments,incl. company acquisitions
R&D and innovation
Financed projects in Russia include mobile phone network investments, investments improving energy generation and distribution undertaken by TGC-1 and Lenenergo, Pulkovo Airport PPP, several credit lines at Russian banks. More on the web: /www.nib.int/loans/loan_process
NDEP Projects with NIB participation
St. Petersburg Vodokanal Waste Water Treatment Plant - completed
St. Petersburg Northern Sludge Incinerator -completed
St. Petersburg Flood Protection Barrier – final stages
Leningrad Oblast Municipal Services I – final stages
St. Petersburg Neva Collector - commenced
Kaliningrad Water and Environmental Services – commenced
Novgorod Water and Waste Water Rehabilitation - starting
Murmansk District Heating - delayed
Petrozavodsk Water and Wastewater Services – to be signad
Leningrad Oblast Municipal Services II – under preparation
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NIB RoleLong term financing;Modern technologies and know-how;Environment;Experience;Support to SMEs;Development of cooperation;
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Promoting sustainable growth
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NIB – Lending in Russia
Soren K. Mortensen, Senior Director, Area Head
Marjo Harri, Senior Manager, Origination ([email protected])
Jan Johansson, Senior Manager, Origination ([email protected])Environmental Projects, NDEP
Igor Kovtun, General Representative for Russia ([email protected])
Representative office in MoscowNovinsky Garden BuildingBolschaya Molchanovka 36/1
+7 (495) 9611031; mob. +7(985) 6432264
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