ANNOUNCEMENT 05 May 2017

In May 2017, the Nordic Investment Bank (NIB) signed a loan programme agreement with the Chinese Ministry of Finance to promote exports from the NIB member countries to China. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The Nordic Investment Bank, agreed loans, China. Government through Ministry of Finance: https://www.nib.int/what_we_offer/agreed_loans/559/government_through_ministry_of_finance
The Nordic Investment Bank, press release of 8 May 2017, NIB launches new loan facility with China’s Ministry of Finance: https://www.nib.int/who_we_are/news_and_media/news_press_releases/2077/nib_launches_new_loan_facility_with_china_s_ministry_of_finance

Inception date: 05 May 2017 | Removal date: open ended

Trade finance

On 5 May 2017, the Nordic Investment Bank (NIB) and the Chinese Ministry of Finance signed a loan programme agreement having a total value of EUR 150 million (approx. USD 165 million). 

The loan programme agreement will issue loans for environmental improvements and projects in selected sectors not yet decided. All loans under the programme will be approved by the Ministry of China and the NIB. Projects under the programme will support the purchase of technology or equipement from NIB member countries. 

In this context, the CEO and president of NIB Henrik Normann stated in a press release: "Financing projects of mutual interest supports innovation and environmental protection in China and the competitiveness of know-how developed in NIB’s member countries".

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries." 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED PRODUCTS

 
N/A