In August 2023, the Nordic Investment Bank (NIB) opened a new regional hub in the Baltics, with a new office in Riga, Latvia.
The opening of the new regional hub in Latvia is a sign that the NIB intends to increase its activity in the Baltic region in the years to come. The NIB is headquartered in Helsinki, Finland.
Latvia has a 1.3% stake in the NIB, and is about 3% of the outstanding loans that the NIB currently has issued. From 2005 to date, about €1.5bn has been financed in over 100 different activities in the state.
The Nordic Investment Bank has eight member states: the five Nordic states, plus the three Baltic states of Estonia, Latvia, and Lithuania, after the Baltic states joined in 2005, not longer after their accession to the EU.
More on the NIB’s new Baltic office in Latvia can be found here.