OREANDA-NEWS. January 29, 2007. IBA press-service informed that in accordance to the agreement NIB allocates a USD 10 million loan to IBA. “Within the agreement IBA is able to attract finance for up to 7 years.

Attracted resources can be used to finance investment projects where goods or services are separately of Scandinavian or Baltic origin. According to the agreement’s conditions the finance may be used to pay for any expenditures related to project realization. Received funds will be directed to finance projects of bank’s clients.

While selecting the project special attention will be paid not only to economic but also ecologic efficiency,” was said in the press-release.

Signing of the agreement with NIB will allow IBA to increase financing long-term projects of bank’s corporate clients having business relations with Scandinavian and Baltic countries.
NIB is one of the leading international financial institutions and has been functioning since 1975. At present, the countries-participants are Denmark, Island, Norway, Finland, Sweden, Estonia, Latvia, and Lithuania.

Bank’s primary activity is realization of investment projects in high-tech industrial fields at the territory of countries-participants as well as abroad. Bank’s total assets are about EUR 18 bn. The head office is situated in Helsinki.