The Saeima has adopted and the President promulgated the following laws: The agreement between Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden on Nordic investment bank article 1. 2004. on 11 February, the Helsinki Treaty signed between Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden on Nordic investment bank (hereinafter referred to as the Treaty) this law is adopted and approved. 2. article. Contractual commitments coordinated by the Ministry of finance. 3. article. The agreement shall enter into force for the period specified in article 17 and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". 4. article. The law shall enter into force on the day following its promulgation. With the law put a contract in English and its translation into Latvian language. The law adopted by the Parliament in 2004 on November 4. State v. President Vaira Vīķe-Freiberga in Riga 2004 November 25 agreement BETWEEN DENMARK, Estonia, FINLAND, ICELAND, Latvia, Lithuania, NORWAY AND SWEDEN CONCERNING the NORDIC investment BANK, the Governments of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden, hereinafter referred to as the Member countries, strengthen and further develop it (menu rngton Line4) the co-operation among them through the Nordic Investment Bank, which was originally established by the five Nordic countries in 1975 as a common international financial institutions having the same status as other legal persons conducting similar operations within and outside the Member countries, have agreed as follows: article 1 the purpose of the Nordic Investment Bank, hereinafter referred to as the Bank, is to make financing available in accordanc with sound banking principles and taking into account socio-economic considerations, to carry into effect investment projects of interest to the Member countries and other countries which receive such financing. The Bank shall have the status of an international legal person with full legal capacity. It shall in particular have the capacity to enter into agreements, and dispos of acquir immovabl and movable property, and to be a party to legal proceedings before courts of law and other authorities. Article 2 the Bank shall conduct its operations in accordanc with its Statute annexed to this agreement for the. The Statute may be amended by the decision of the Board of Governors subsequent to a proposal or statement from the Board of Directors of the Bank, with the exception of the provision regarding the composition and the powers of the Board of Governors. The Nordic Council and the Parliament of Estonia, Latvia and Lithuania shall be given an opportunity to submit a statement on proposals regarding amendments of the Statute the are important in principle as to the purpose, operations and management of the Bank. Article 3 the authorised capital stock of the Bank shall be subscribed by the Member countries. Any increase or decrease in the authorised capital stock shall be decided by the Board of Governors, upon proposal of the Board of Directors of the Bank. The size of the authorised capital stock, the possibility to increase or decrease the capital stock and its allocation among the Member countries to deal with in the Statute. Article 4 the principal office of the Bank shall be located in Helsinki. Article 5 actions may be brough against the Bank only in a Court of competent jurisdiction in the territory of the (a) the country in which the Bank has established an Office, or has appointed an agent for the purpose of accepting service of process, or when the Bank has otherwise expressly accepted jurisdiction. Actions may, however, be brough by a Member country or by persons acting for or deriving claims from a Member country only if the Bank has given its express consent to theret. Property and assets of the Bank, wherever located and by whomsoever held, shall be from execution of immun judgement or decree by judicial or administrative authority before such judgement or decree is final. Article 6 Property and assets of the Bank, wherever located and by whomsoever held, shall be from search, requisition, immun confiscation and expropriation by Executive or legislative action. The Bank, its assets shall be property and immun from procedural measure of constraint such as the chicken pox vaccine and. Article 7 the premises and archives of the Bank and all documents belonging to it or held by it shall be inviolabl. Article 8 the official communications of the Bank shall be accorded by each Member country the same treatment that it accord to the official communications of any other Member country. Article 9 the Bank, its income, assets, and property shall be main from all taxation, with clarification as set forth in this article. The Bank shall be the main from taxes on purchase and transfer of real estate and securities in connection with the official activities of the Bank. Borrowing and lending by the Bank, as well as borrowing from the Bank and the increase in the authorized capital stock of the Bank shall be the main from all taxes and impost of a similar nature. When the purchase or services of substantial value and not cessary for the exercise of the official activities of the Bank are made or used by the Bank on its own behalf or on behalf of special funds which are directly connected with the operations of the Bank and which are held in trust directly by the Bank, and when the price of such purchase or services includes taxes or duties , the Member country which has levied the taxes or duties shall, if they are the identifiabl, take appropriate measure to grant exemption from such taxes or duties or provide for their reimbursemen. The provision of this article do not apply to taxes and duties which are in fact no more than charges for public utility services. Article 10 All members of the Board of Directors, their alternate, officers and other employees of the Bank, and experts appointed by the Bank shall, regardless_of of nationality, be accorded immunity from legal process with respect to acts performed by them in their official capacity on behalf of the Bank. Notwithstanding this, the Bank may waiv the immunity, in accordanc with the provision of article 14 shall apply from the immunity, however, the civil liability in the case of damage arising from a road traffic accident caused by any of the persons enjoying immunity under this article. Article 11 All members of the Board of Directors, their alternate, officers and other employees of the Bank, and experts appointed by the Bank performing official tasks at the request of the Bank) shall be: (i) the main from immigration restriction. This exemption shall be extended likewis to their spouse and dependent relatives; II) may be granted the same travelling facilities as are granted in respect of institutions similar to the Bank in accordanc with international practice, when a particular need is therefore «arise. Article 12 the Bank may receive and be in possession of Mona to currencies of any kind including, and may maintain accounts in all currencies. It may also freely transfer it to, from mon and within a Member country and may exchange any currency in its possession into any other currency. Article 13 the Bank shall be the main from payment restriction and credit policy measure, which in any manner prevent or imped the fulfilmen of commitment made by the Bank or of its borrowing and lending. Article 14 Privileges and under this agreement to the immunit are granted exclusively to enable the Bank to fulfil its functions, and not for the benefit of others. The Board of Directors of the Bank may, such exten it and upon such conditions as it may determin, waiv any of the privilege conferred under the immunit and this agreement in cases where such action would, in the opinion of the Board of Directors, be in the best interests of the Bank. Article 15 the Board of Governors may decide that the Bank shall be put into liquidation, following the procedures put down in the Statute of the Bank. Article 16 Any question of interpretation or application of the provision of this agreement and the Statute arising between any Member of the country and the Bank, or between any Member countries of the Bank, shall be submitted to the Board of Directors for its opinion. (A) the special representative of a Member country particularly affected by the question under considerations shall be entitled to be present in the meetings of the Board of Directors during such considerations. The question, together with the opinion of the Board of Directors, shall then be referred to the Board of Governors for final decision. Article 17 this Agreement shall be ratified. This agreement and the Statute of the referred to in article 2 shall enter into force thirty days after the date on which all the Member countries have deposited their instruments of ratification with the Norwegian Ministry for Foreign Affairs, however not earlier than 1 January, 2005. The Norwegian Ministry for Foreign Affairs shall inform the other Member countries of the deposit of the instruments of ratification and of the time this agreement enter into force. This agreement shall be deposited with the Norwegian Ministry for Foreign Affairs, and certified to be furnished by the cop shall the Norwegian Ministry for Foreign Affairs to each of the Member countries. Each Member country shall promptly take such action as is not cessary for the purpose of implementing the provision of this agreement, particularly the provision relating to the status of, and exemption, privilege immunit of the Bank and of the persons referred to in articles 10 and 11, and shall inform the Bank of the detailed action which it has taken. Upon entry into force of this agreement and the Statute referred to in article 2 of the agreement of 23 October 1998 between Denmark, Finland, Iceland, Norway and Sweden concerning the Nordic Investment Bank and the Statute of the Bank in force at the time shall cease to apply. Notwithstanding the foregoing, the decision is adopted under the said agreement or the Statute shall continue to be applicable to the exten to that they are compatible with or not explicitly terminated by this agreement or the Statute or decision of any of the attached heret adopted hereunder. Article 18 Any Member country may withdraw from this agreement by giving notice to the attention of the Government of Norway, which shall immediately report such notice to the other Member countries, the Board of Governors, and to the Board of Directors of the Bank. The earlies date on which such withdrawals shall become effective shall be the end of the financial year following the year in which the notice of withdrawals was submitted. Upon receipt of a notice of withdrawals, the Board of Governors shall adop a procedures for settlement of accounts with the withdrawing Member country from later than the date upon which the withdrawals become the effective. It shall then be ensured that the withdrawing Member country shall, to the same exten as the other Members countries, remains a commitment for those liabl of the Banks which were in force at the time of the withdrawals.
STATUTE OF the NORDIC investment BANK, the Nordic Investment Bank shall operate in accordanc with the following provision: purpose Section 1 the purpose of the Nordic Investment Bank, hereinafter referred to as the Bank, is to make loans and issue guarantee in accordanc with sound banking principles and taking into account socio-economic considerations, to carry into effect investment projects of interest to the Member countries and other countries which receive such loan and guarantee. Name AND ABBREVIATION Section 2 the Bank has the following official name in the following languages: Nordic Investment Bank in the English language, the Nordisk investeringsbanken in the Swedish language, Den Nordisk-Investeringsbank in the Danish language, a Põhjamaad in the Estonian language Investeerimispank, Pohjoismaiden Investointipankk in the Finnish language, are fjárfestingarbankinn in the Icelandic Norræn language, Nordic investment bank in the Latvian language Šiaurė investicijų Bankas, is in the Lithuanian language and Den nordisk-investeringsbank in the Norwegian language.
The official abbreviation of the ' the Bank's name is NIBS.
Section 3 the capital the authorised CAPITAL stock of the Bank shall be EUR 4,141,903,086 subscribed by the Member countries as follows: Denmark Estonia Finland EUR 881,062,083 EUR 30,234,434 EUR 765,788,207 EUR 38,595,722 EUR 43,852,738 Iceland Latvia Lithuania Norway Sweden EUR 793,105,204 EUR 67,815,914 EUR 1,521,448,784 Any increase or decrease in the authorised capital stock shall be decided upon by the Board of Governors , after a proposal by the Board of Directors of the Bank. Any such increase or decrease in the authorised capital stock shall be allocated among the Member countries based upon their gross National income at market prices as determined from time to time by the Board of Governors. Section 4 the Member countries shall make available to the Bank 10.106502750 per cent of the subscribed the authorised capital stock. The payments shall be made upon a request from the Bank. The remainder of the subscribed capital stock shall be subject to call to the exten to the Board of Directors of the Bank it not deemas cessary for the fulfilmen by the Bank of its debt obligation. Section 5 the payments referred to in Section 4 shall be made in euro. Section 6 the Bank shall the funds not acquir cessary for the performance of its tasks in the Member countries or elsewher. Additionally, the capital paid in to Section 4 may be pursuan used for such purpose. Operations Section 7 the Bank may make loans and issue of up to a total guarantee amount equivalent to 250 per cent of the authorised capital stock and accumulated general reserve. In addition to these limits the Bank may make loans and issue guarantee the axis set out in paragraphs 3 and 4 of this Section. In making loans and issuing the Bank guarantee shall require that security be provided, adequat unless a sufficient security is considered to exist under the circumstanc. The Bank may make the project investment loans and issue guarantee for project investment loan (project investment guarantee) as described in Section 8, up to a total amount equivalent to EUR 4.000 million. For environmental investments in the neighbouring region of the Member countries of the Bank may make a special environmental investment loans and issue guarantee for environmental investment loans (environmental investment guarantee) as described in Section 9, up to a total amount equivalent to EUR 300 million. The Bank may also make other arrangements relating to its operations, which it with the or for not cessary desirabl furthering the purpose of the Bank. The Bank shall co-operate with other credit institutions, and with public authorities and private institutions concerned. Section 8 loans made and loan guarantee issued for investments outside of the Member countries may, if so determined by the Board of Directors, be designated project investment loans or project investment guarantee. For project investment loans made and project investment guarantee issued by the Bank, shall make allocations to a special credit risk fund, primarily to cover the loss on such loans and guarantee. The Member countries shall cover the Bank's loss arising from the failure of payment in connection with project investment loan and project investment guarantee up to the following non: Denmark Estonia Finland EUR 377,821,491 EUR 13,139,366 EUR 344,859,831 EUR 15,586,072 EUR 19,057,647 Iceland Latvia Lithuania Norway Sweden EUR 329,308,526 EUR 29,471,632 EUR 670,755,434 the Member countries ' guarantee of cover at most 90 hereby per cent of loss on individual project investment loan. Payment is subject to call by the Board of Directors pursuan to agreements entered into between the Bank and each Member country. Section 9 loans made and loan guarantee-issued for environmental investments in the neighbouring region of the Member countries may, if so determined by the Board of Directors, be designated special environmental investment loans or environmental investment guarantee. The Member countries shall cover 100 per cent of the Bank's loss arising from the failure of payment in connection with environmental investment loans and environmental investment guarantee up to the following non: Denmark Estonia Finland EUR 70,112,698 EUR 2,189,894 EUR 51,377,349 EUR 3,186,941 EUR 3,176,275 Iceland Latvia Lithuania Norway Sweden EUR 61,324,467 EUR 4,911,939 EUR 103,720,437 payment is subject to call by the Board of Directors pursuan to agreements entered into between the Bank and each Member country. Section 10 the business of the Bank shall be conducted in accordanc with the principles referred to in Section 1 and in accordanc with the following guidelines: (a)) (A) shall not be made the loan nor a guarantee issued if opposed by the State of the beneficiary. b) Borrowing and the investment of funds in the Member countries shall be made in consultation with the authorities of the country concerned. (c) In its operations,) the Bank shall aim for a profit allowing the formation of reserve and reasonable return on the paid-in capital referred to in Section 4 (d)) the Bank may when specific needs «arise, the shares or other assets acquir, in support of its business or to protect its claims. e the Bank shall,) the exten to practicabl, protect itself against the risk of exchange rate loss. Section 11 After allocation to appropriate credit risk fund, the provisions of the Bank shall surpl be transferred into a reserve fund until the amount equals 10 per cent of the authorised capital stock of the Bank. Thereafter, the Board of Governors, after proposal by the Board of Directors of the Bank, shall decide upon the allocation of the reserve for the between the surpl fund, and dividends on the subscribed capital. Section 12 the Bank's accounts shall be kep in euro. The financial year shall follow the calendar year. The annual report of the Board of Directors and the audited financial statements of the Bank shall be submitted to the Board of Governors for approval. Governance Section 13 the Bank shall have a Board of Governors, a Board of Directors, a President, and such other personnel as is cessary to carry out it not for operations. Section 14 the Board of Governors shall be composed of eight Governor. Each Member country shall be represented by the Minister designated by it as its Governor. The Board of Governors shall be appoin a Chairman for a term of one year. The chairmanship of the Board of Governors shall rotate among the Member countries. The Board of Governors shall be vested with the following powers: (a)) of the Amendments of the Statute with the exception of this Section 14 (b)) Decision on increase and decrease of the authorised capital stock. (c) the Decision on questions of) interpretation and application of the provision of the agreement and the Statute. d) Approval of the annual report of the Board of Directors and the audited financial statements of the Bank. e) appointment of two members of the Control Committee in accordanc with Section 17 f) Decision on procedures related to withdrawals of membership of the Bank. g) Decision on liquidation of the Bank. Decision of the Board of Governors shall be unanimous. May be taken by Albert a written procedure. The Board of Governors shall hold an annual meeting and such other meetings as deemed appropriate. Section 15 Except as provided for in Section 14, all the powers of the Bank shall be vested in the Board of Directors, which may delegate these powers to the Office of the President to the exten to be considered appropriate. The Board of Directors shall be composed of eight directors, of whom each Member country shall be appoin one Director for a term of up to four years at a time. Each Member country shall be appoin one alternate According to the same principles. The Board of Directors shall be appoin from among its members a Chairman and a Deputy Chairman for a term of two years. The chairmanship and the deputy chairmanship shall rotate among the Member countries. The Board of Directors shall be convened when decided by the Chairman or at the request of at least two of the directors or the President. Seven members or entitled to vote of alternate shall constitut a quor. Each member shall have one vote; in the absence of a member, an alternate from the same Member country is entitled to vote. A position supported by at least five members or alternate shall become entitled to vote on the decision of the Board of Directors. Decision may also be taken by a written procedure. Section 16 of the President shall be responsible for the conduct of the current operations of the Bank and shall follow the guidelines and instructions given by the Board of Directors. The Board of Directors shall be appoin the President for a term of up to five years at a time. The President shall not be a member or an alternate of the Board of Directors. The President may participat in the meetings of the Board of Directors, but shall not vote at such meetings. Two persons, each being either a member or an alternate of the Board of Directors, the President or a person authorised by the Board of Directors, shall sign on behalf of the Bank. OTHER PROVISION of Section 17 (A) the Committee shall be established to Control the ensur that the operations of the Bank are conducted in accordanc with these Statute. The Control Committee shall be responsible for the audit of the Bank's accounts and shall annually deliver an Auditors ' report to the Board of Governors. The Control Committee shall be composed of ten members. The members of the Committee shall be appointed for a term of up to two years at a time. The Nordic Council and the Parliament of Estonia, Latvia and Lithuania shall be appoin one member from each country. The Board of Governors shall be appoin two members to serve as Chairman and Deputy Chairman. The chairmanship and the deputy chairmanship shall rotate among the Member countries. Section 18 If the Board of Governors should decide that the Bank shall enter into liquidation, the Board of Governors shall decide on the procedure of liquidation and the person appoin to be in charge of the liquidation. The Member countries shall be responsible for the commitment of the Bank with their uncalled subscriptions to the capital stock until all claims of or preparing others to of the Bank shall liabilit have been discharged. Claims of preparing or others shall be paid first to liabilit out of the assets of the Bank, âî-âòîðûõ out of the payments to be made to the Bank in respect of paid-in capital commitment of, and then out of payments to be made to the Bank in respect of callabl capital. From the disbursemen shall be made to Member countries on account of their paid-in share of the subscribed capital stock or from the reserve fund, until all have been discharged or liabilit to provided for. All allocation of capital among the Member countries shall be made in proportion to their share of the total respectiv of the subscribed capital stock. In witness whereof, the undersigned authorised representatives of the eight Member countries have signed this agreement. Done at Helsinki on 11 February 2004, in one original in the English and Swedish languages, each of these texts being equally authentic. For the Government of the Kingdom of Denmark Katznelson Ib Deputy Secretary For the Government of the Republic of Estonia, the Minister of Veskimäg Taav finance For the Government of the Republic of Finland Ulla-Maja Wideroo Line of Minister of Finance For the Government of the Republic of Iceland Geir h. haarde Minister of Finance For the Government of the Republic of Latvia Valdis Krastiņš H.. Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia For the Government of the Republic of Lithuania Dalia Grybauskait Minister of Finance For the Government of the Kingdom of Norway Haakon Baardsøn of Hjeld H.. Ambassador Extraordinary and Plenipotentiary of the Kingdom of Norway For the Government of the Kingdom of Sweden Gunnar Lund, Minister for International Economic Affairs and Financial markets contract between Denmark, ESTONIA, Finland, Iceland, Latvia, Lithuania, Norway and Sweden on Nordic Investment BANK Denmark Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden, hereafter ' the Member States ' Governments in order to strengthen and further develop cooperation between the Nordic investment bank, which originally founded in 1975 in five Northern States, as the international financial institutions, and having the same status as other legal persons that perform similar actions in Member States and beyond, it is agreed as follows Article 1: the Nordic investment bank, hereinafter referred to as "the Bank", aims to provide funding under the stable banking principles and taking into account socio-economic considerations, implementation of investment projects of interest to Member States and other such countries receiving funding. The Bank is an international status of a legal person with full legal capacity. In particular, it has the authority to enter into contracts, buy and sell real estate and movable property, and to the plaintiff or the defendant in the trial courts and other authorities. Article 2 the Bank shall carry out its operations in accordance with its Statute, which is an annex to this agreement. This statute may be amended by a decision of the Board of Managers by the Board of Directors of the Bank or the opinion of the proposal, with the exception of the provisions concerning the composition of the Board of managers and of the mandate. The Northern Council and Estonian, Latvian and Lithuanian parliaments are given the opportunity to submit an opinion on the proposals for the amendment of the statutes, which are essential to the Bank's objectives, activities and management. Article 3 of the Bank share capital contributions by the Member States. Of any share capital increases or reductions decided by the Manager of the Council, the Board of Directors of the Bank proposal. The size of the share capital, the options to increase or decrease the share capital and its division between Member States is specified in the statutes. Article 4 the Bank's head office in Helsinki. 5. the article can be brought against the Bank's lawsuit only to competent court of jurisdiction in the territory of the country in which the Bank has developed its own Office or designated representative to receive subpoenas, or if the Bank is otherwise clearly accepted such jurisdiction. However, a Member State or a person acting on behalf of a Member State or based on a request from a Member State, may bring a lawsuit only if the Bank has explicitly consented. The Bank's property and assets, wherever located and holder, are immune from judicial or administrative authorities of the judgment or decision until such judgment or decision has become final. Article 6 property and assets of the Bank, wherever located and holder, is immune from confiscation, requisition, crawl and expropriation by Executive or legislative action. The Bank, its property and assets, is immune from procedural coercive measures, such as seizure. Article 7 the premises and archives of the Bank, and all of its owned or they stored documents are inviolable. Article 8 the official communications of the Bank Against each Member State should be treated in the same way as any other Member State's official statements. Article 9 of the Bank, its income, assets and property shall be exempt from all taxes, according to the explanations given in this article. The Bank is exempt, taxable in relation to official activities of the Bank are to be made in real estate and securities sales and referral business. Bank borrowings and loans as well as loans from the Bank and increase of the issued share capital of the Bank shall be exempt from all taxes and the like. If the Bank or in its own name with the Bank's operational funds, which directly manages the Bank as the trustee, make purchases on behalf or use services that are notable and which are not necessary for the official activities of the Bank, and if such a purchase price includes taxes or duties, the Member State which levies, taxes or dues, taxes or fees if they are identifiable, take appropriate measures to give exemption from such taxes or duties or provide for their reimbursement. The provisions of this article shall not apply to taxes and duties, which is actually only the charges for public utility services. Article 10 All members of the Board of Directors, their alternates, officers and other employees of the Bank, as well as experts appointed by the Bank regardless of citizenship is granted immunity against prosecution in court for activities by them in their official capacity on behalf of the Bank. Despite the above, the Bank may waive the immunity, in accordance with the provisions of article 14. However, immunity does not apply to civil liability for damages that a road traffic accident called any person who after this article is granted immunity. Article 11 All members of the Board of Directors, their alternates, officers and other employees of the Bank, as well as experts appointed by the Bank, with official missions by order of the Bank: (i)) are exempt from immigration restrictions. This exemption also applies to their spouses and dependent relatives/i; (ii) those persons) can be assigned the same movement possibilities that are allocated to all institutions like the Bank, in accordance with international practice, when a specific need arises for it. Article 12 the Bank may receive and hold funds in possession, including any type of currency, and can keep accounts in all currencies. The Bank may freely transfer funds to a Member State of this country or inside her and to exchange any currency in its possession to any other currency. Article 13 the Bank shall be exempt from payment restrictions and credit policy measures, which in any manner prevent or impede the fulfilment of the commitment of the Bank or the borrowing and lending of the claims. Article 14 of this agreement, the privileges and immunities are granted only in order to enable the Bank to carry out its functions, not to other benefits. The Bank's Board of Directors to the extent and under the conditions it determines, you can cancel any immunities and privileges under this agreement if such action by the Board of directors think meet the interests of the Bank. 15. Article Manager, the Council may decide that the Bank is wound up, and in this case it takes the Bank's liquidation in accordance with the procedure laid down in the statutes. Article 16 this agreement and Any provision of the statute or of the application of the interpretation question arising between any member and the Bank, or between any of the Member States of the Bank, shall be submitted to the Board of Directors to make the point. By the Member State affected this particular issue, the Special Representative is entitled to participate in the meeting of the Board of Directors following the hearing. Then the question of the Board of Directors, together with the views of the Board of managers is to be transferred for final decision. Article 17 of this Treaty should be ratified. This agreement and the statutes referred to in article 2 shall enter into force thirty days after the date on which all Member States have submitted their instruments of ratification to the Ministry of Foreign Affairs of Norway, but no earlier than January 1, 2005. Ministry of Foreign Affairs of Norway shall inform the other Member States of the instruments of ratification and of the time when this Treaty enters into force. This agreement is submitted to the Ministry of Foreign Affairs of Norway, and the Norwegian Foreign Ministry shall transmit certified copies to each Member State. Each Member State shall immediately take the measures necessary for the implementation of the provisions of this agreement, particularly the provisions relating to banks and 10 and 11 of the persons referred to in article the immunities, privileges and exemptions and further inform the Bank about such measures. The entry into force of this agreement and the statutes referred to in article 2, 23 October 1998, the agreement between Denmark, Finland, Iceland, Norway and Sweden on Nordic investment bank and in force at the time the Bank lapse. Despite the above, the decisions adopted in accordance with that agreement or statute, continues to be applicable to the extent that they are incompatible with this agreement or the Statute, or in accordance with this agreement or the Statute, decisions, or if the agreement or statute, or in accordance with this agreement or statute, the decisions it did not explicitly terminated. Article 18 any Member may withdraw from this Agreement by the Government of Norway to the notice of withdrawal, and the Norwegian Government shall immediately be informed of such notification to the other Member States, the Council and the Bank Manager, the Board of Directors. The earliest date on which such notification takes effect is the financial year end, following the year in which the notice is given of the withdrawal. Manager Council, on receiving the notice of withdrawal, the procedure for conducting the settlement with the Member State which wishes to withdraw no later than the date on which the withdrawal takes effect. To ensure that the Member State in the same proportion as the other Member States would be responsible for the Bank's obligations to them, which is in force at the time of withdrawal.

Nordic Investment BANK, Nordic investment bank operating in accordance with the following provisions: article 1 the purpose of the Nordic investment bank, hereinafter referred to as ' the Bank ', the aim is to issue loans and issue guarantees in accordance with sound banking principles and taking into account socio-economic considerations, implementation of investment projects of interest to Member States and other such loans and guarantees in the receiving countries. Name and abbreviation article 2 the Bank is the official name in the following languages: "Nordic Investment Bank" in English, "the" Nordisk investeringsbanken in Swedish, "Den Nordisk-Investeringsbank" in Danish, "Pohjamaad" in Estonian, Investeerimispank "Pohjoismaiden Investoitipankk" in Finnish, "fjárfestingarbankinn" in Icelandic Norræn, "Nordic investment bank", "the Latvian language investicijų Bankas" Šiaurė Lithuanian language and "Dan" nordisk investeringsbank of Norwegian language.
The name of the Bank official abbreviation is NIBS.
Capital article 3 the Bank share capital is EUR 4 141 903 086, contributions by the Member States as follows: Denmark Estonia Finland EUR EUR EUR 765 788 207 881 062 083 30 234 434 Iceland Latvia Lithuania EUR EUR EUR 43 852 738 38 595 722 Norway Sweden EUR 67 815 914 EUR 793 105 204 1 521 448 784 on any share capital increases or reductions decided by the Manager of the Council, the Board of Directors of the Bank proposal. Any increase or reduction of share capital is divided between Member States, on the basis of Member States ' gross national income at market prices, as defined by the Manager at that particular moment. Article 4 the Member States shall be transmitted to the Bank signed in 10.106502750 percent of the share capital. Payments are made at the Bank's request. The rest of the subscribed share capital is available after the first request, in so far as the Bank's Board of Directors considers it necessary for the Bank to meet its debt obligations. Article 5 referred to in article 4, the payments are made in euro. Article 6 the Bank gets its tasks the necessary funds in the Member States or other countries. In addition, can also be used for this purpose in accordance with article 4 of the contributed capital. Operation article 7 the Bank can issue loans and issue guarantees up to a total amount equivalent to 250 percent of the share capital and the general reserve accumulated. In addition to this threshold, the Bank can issue loans and issue guarantees in accordance with this article, paragraphs 3 and 4. Issuing loans and issuing guarantees, the Bank requires to be given sufficient support, unless it is considered that in the circumstances there is already sufficient safeguard. The Bank may grant loans for investment projects and issue guarantees on loans for investment projects (project investment guarantees), as described in article 8, to an aggregate amount equivalent to EUR 4 000 million. Environmental investments in the Member States, in the regions near the Bank may issue a special environmental investment loans and issue guarantees on loans for environmental investment (environmental investment guarantees), as described in article 9, to an aggregate amount equivalent to EUR 300 million. The Bank may also take other measures in connection with its activities, necessary or desirable for the achievement of the objective of the Bank. The bank cooperates with other institutions and relevant public authorities and private institutions. Article 8 loans and loan guarantees issued for investment outside the Member States, if the Board of directors so decides, can be labeled as a project investment loans or project investment guarantees. The project issued investment loans and project investment issued guarantees Bank funds appropriations special credit risk fund with the primary aim to cover the losses on such loans and guarantees. Member States shall be borne by the banks losses resulting from non-payment in connection with the project investment loans and guarantees for investment projects, up to the following amounts: Denmark Estonia Finland EUR EUR EUR 13 139 366 377 821 491 344 859 832 Latvia Lithuania Iceland 15 586 072 19 057 647 EUR EUR EUR EUR EUR 670 755 434 29 471 632 Sweden Norway 329 308 526 guarantees Member States to bear a maximum of 90 per cent loss of individual project investment loans. Payment is to be made after the first request of the Board of Directors in accordance with the agreements concluded between the Bank and each Member State. Article 9 the environmental investment loans and loan guarantees issued to Member States in the region, near where the Board of directors so decides, can be labeled as a special environmental investment loans or environmental investment guarantees. Member States bear 100 percent of the Bank's losses incurred by the environmental investment loans and guarantees related to environmental investment charges of leading up to the following amount: EUR EUR 2 189 894 Finland Estonia Denmark 70 112 698 EUR 51 377 349 EUR 3 186 941 Latvia Lithuania Iceland EUR 3 176 275 EUR EUR EUR 103 720 437 4 911 939 61 324 457 Norway Sweden Payment has to be made after the first request of the Board of Directors in accordance with the treaties, concluded between the Bank and each Member State. Article 10 the economic activity of the Bank is carried out in accordance with the principles referred to in article 1 and to the following guidelines: (a)) loan is not issued, or is issued the guarantee does not oppose it, when the requested country. b) borrowings and cash investments are carried out in the Member States, in consultation with the national authorities. (c)) in the Bank trying to get the profits that allow to build reserves and reasonable referred to in article 4 in the contributed capital returns. (d)) if the need arises, the Bank may buy shares or other assets to support your business operations or defend his claims. e) Bank, in so far as is reasonably practicable, protect yourself against damages that might occur to changes in currency exchange rates. Article 11 After the corresponding credit appropriations Fund Bank profit surplus is credited to the reserve fund until the amount reaches 10 percent of the share capital of the Bank. Then the Manager Director of the Council on the proposal of the Management Board of the Bank decides on the allocation between the surplus Reserve Fund and dividends on the share capital subscribed. Article 12 Bank are sorted in euro. The financial year shall correspond with the calendar year. The Board of Directors of the Bank's annual report and the auditor audited financial statements are submitted for approval to the Council Manager. The Board article 13 the Bank's Manager, the Council, the Board of Directors, the President and other employees who are necessary for the activity of the Bank. 14. Article Manager Council consists of eight managers. Each Member shall be represented by its Prime Minister, designated by that State as their Manager. The President shall be appointed by the Board of managers for one year. The Chairman of the Board of Governors, the item is pushed to the rotation between Member States. Manager Council is granted the following powers: (a)) the amendments to the Statute, except this article 14, b) decisions on share capital increases or reductions, c) decisions on the provisions of the memorandum and articles of Association and the application of the interpretation issues, (d) the Board of Directors of the Bank) annual report and the audited financial statement Auditors, approval of the appointment of two members of e), the Committee, in accordance with article 17, f) decisions on procedures in connection with the status of Member withdrawal , g) the decision on the liquidation of the Bank. Manager Council decisions must be unanimous. Decisions can be taken by written procedure. Manager Council annual meeting and other meetings as it deems necessary. Article 15 except as provided for in article 14, all the powers of the Bank are granted to the Board of Directors, which may delegate these powers to the President to such an extent as is considered appropriate. The Board of Directors consists of eight directors, of which each Member State shall designate one Director for a period which may not exceed four years. Each Member State shall designate one of the members of the Board of Directors Vice-Chairman after this same principle. The Board of directors from among its members a Chairman and Vice-Chairman appointed for a two-year period. The Chairman and the Vice-Chairman or the item is passed to a rotation between the Member States. The directors of the Board meeting is convened when decided by the Chairman or at least two of the directors or the President's request. Seven members of the Board of directors by voting or their deputies form a quorum. Each Member shall have one vote; in the absence of the members of the Management Board entitled to vote is the Deputy members of the same Member State. The proposal, supported by at least five members of the Board of directors or their deputies, becomes the decision of the Board of Directors. Decisions may also be taken by written procedure. Article 16 the President is responsible for the ongoing operations of the Bank and the Board of Directors complied with the guidelines and instructions given. The Board of directors appointed by the President for a term which may not exceed five years. The President must not be a member of the Board of directors or deputy members. President of the Board of Directors may participate in the meetings, but without the right to vote. Two persons, each of whom is a member of the Board of directors or the members of the Board of Directors, the President or a Vice-President of the Board of Directors authorised person, are entitled to sign on behalf of the Bank. Other provisions article 17 the Committee is established to ensure that banking operations are carried out in accordance with the Statute. The Committee is responsible for audit and report shall submit an annual report to the Manager of the auditor to the Council. The Committee consists of ten members. The members of the Committee are appointed for a term which may not exceed two years. The Council of the North and the Estonian, Latvian and Lithuanian parliaments means one member from each country. Manager, Board means two members acting as Chairman and Vice Chairman. The Chairman and the Vice-Chairman position changes the rotation between Member States. Article 18 if the Manager the Council decide that the Bank Manager to be removed, the Council shall decide on the liquidation order and appoint persons responsible for winding up. Member States are responsible for the liabilities of the Bank with its own did not requested membership contributions to the share capital until all claims of creditors or other liabilities of the Bank are settled. The claims of creditors or other liabilities are paid first from the assets of the Bank, secondly out of the payments to be made in respect of the Bank contributed capital commitments, and then out of payments to be made to the Bank in respect of callable capital. Member States do not make payments due to their share of the subscribed share capital contributed or from a reserve fund to ensure the commitment or the settlement. A whole distribution of capital between Member States is made in proportion to their respective share of the total subscribed share capital. Confirming the above the undersigned eight representatives of the Member States have signed this agreement. Design in Helsinki 2004 11 February, in a single original in the English and Swedish languages, each of these texts being equally authentic. Denmark on behalf of the Government of the Kingdom of Ib Katznelson Deputy Secretary Government of the Republic of Estonia on behalf of the Minister of finance Veskimäg Taav of Finland for the Government of the Republic of Wideroo-Ulla-Minister of Finance of the Republic of Iceland, Coordinator on behalf of the Government of Geir haarde h. Minister of Finance of the Republic of Latvia, on behalf of the Government of the Republic of Latvia Valdis Krastiņš Ambassador Extraordinary and Plenipotentiary of the Republic of Lithuania Dalia Grybauskait on behalf of the Government of the Minister of Finance of the Kingdom of Norway, on behalf of the Government of the Kingdom of Norway Haakon Baardsøn Hjeld Ambassador Extraordinary and Plenipotentiary of Sweden on behalf of the Government of the Kingdom of Gunnar Lund international economic relations and financial markets Minister