Countries of operation

As in previous years, most of the new lending in 2010 was carried out in the member countries, approximately 73%. During the year, the Bank signed 28 new loan agreements in the member countries with a total value of EUR 1,284 million. No new guarantees were issued. Disbursements of loans amounted to EUR 927 million, which expanded NIB's loans outstanding in the member countries to EUR 11,011 million at year-end. Loans agreed but not yet disbursed amounted to EUR 542 million at the end of the year.

Sweden accounted for the largest part, 38%, of the new lending in the member countries in 2010, followed by Finland with 34% and Norway with 17%.

Outside the member region, NIB finances projects of mutual interest to the Bank's member countries and the countries in which NIB financing is carried out. Loans are granted within the Bank's ordinary lending or under the Project Investment Loan Facility (PIL) or the Environmental Loan Facility (MIL). In accordance with the revised policy for lending outside the member region, the Bank focused its operations on a limited group of countries in which it is perceived that there are good opportunities to achieve strong mandate fulfilment and to maintain a long-term presence.

In 2010, the Bank signed 11 new loan agreements in 8 non-member countries in Europe and Eurasia, Asia, Latin America and Africa. The total value of the new loans agreed during the year amounted to EUR 479 million. The largest recipients were China and Brazil. No new guarantees were issued during the year. Disbursements of loans amounted to EUR 348 million, after which NIB's loans outstanding in non-member countries stood at EUR 2,761 million at year-end. Loans agreed but not yet disbursed amounted to EUR 637 million at the end of the year.

The distribution of lending is summarised in figures 19–22.