Nordic Investment Bank – Annual Report 2010
- This is NIB
- Mandate, Mission and Impact
- Lending
- Treasury
- Corporate Governance
- Financial Report
- Report of the Board of Directors
- Proposal by the Board of Directors to the Board of Governors
- Statement of comprehensive income
- Statement of financial position
- Changes in equity
- Cash flow statement
- Notes to the financial statements
- 1. Segment information
- 2. Interest income and interest expense
- 3. Commission income and fees received
- 4. Net profit/loss on financial operations
- 5. General administrative expenses
- 6. Impairment of loans
- 7. Financial placements
- 8. Loans outstanding and guarantee commitments
- 9. Intangible assets, tangible assets (property and equipment)
- 10. Depreciation
- 11. Other assets
- 12. Debts evidenced by certificates and swaps
- 13. Other liabilities
- 14. Authorised capital—paid-in capital
- 15. Statutory reserve and credit risk funds
- 16. Collateral and commitments
- 17. Fair value of financial instruments
- 18. Maturity profile
- 19. Interest rate risk
- 20. Currency risk
- 21. Average statement of financial position
- 22. Related party disclosures
- 23. Cash flow statement
- 24. Exchange rates
- 25. Post-balance sheet events
- Auditors’ reports
Material bank
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Mandate fulfilment
To get access to NIB financing, a project must fulfil the Bank's mandate in one of two ways: contribute to strengthening the competitiveness of the member country economies or enhance the environment.
In 2010, the degree of mandate fulfilment rose compared to the previous year. 72% of all projects had a potentially good or excellent impact on either competitiveness or the environment (or both). One likely reason for this improved performance was that, in the second half of the year, the Bank raised its ambition regarding mandate fulfilment. Another reason may have been the concentration of projects to the Bank's focus sectors.
About half of the agreed new loans scored good or excellent on the competitiveness mandate, and most of these were based in the energy sector. Many of these projects created additional production capacity and a better transmission grid, improvements that contribute to a secure energy supply, which is essential for the efficient functioning of our economies. Projects in the transport sector and healthcare infrastructure also contributed to high competitiveness mandate fulfilment.
The projects that received a high mandate fulfilment on the environmental side were mainly in the energy sector (e.g., renewable energy projects and energy efficiency investments) the public transport sector (e.g., rail infrastructure projects), as well as environmental research and development programs in areas such as water treatment.
Looking ahead in 2011 the Bank will sharpen its focus on high mandate projects.
