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NIB – Promoting sustainable growth
Saint-Petersburg September 29, 2010
Mr. Igor Kovtun, General Representative in Russia
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
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Iceland
Norway
Finland
Sweden
Denmark
Estonia
Latvia
Lithuania
Financial performance
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
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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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NIB in Russia
Northwest Russia is natural
focus area for environmental
projects for NIB.
Agreement with the
Government of the Russian
Federation for financial cooperation since 1997.
"No objection" by the
Ministry of Finance of the
Russian Federation to all
loans from NIB to Russian
borrowers.
Iceland
Norway
Finland
Sweden
Denmark
Estonia
Latvia
Lithuania
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Enhancing the environment in Russia
All projects considered for
financing undergo assessment
of 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 competitiveness
Projects 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.
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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 Role
Long 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 Moscow
Novinsky Garden Building
Bolschaya Molchanovka 36/1
+7 (495) 9611031; mob. +7(985) 6432264
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