In a significant development, the Nordic Investment Bank (NIB), a prominent international financial institution, has recently established a new hub in Riga. This move is aimed at strengthening connections with Baltic stakeholders, increase investment in the Baltic States and expand lending to Baltic private sector companies. NIB, jointly owned by Sweden, Norway, Denmark, Finland, Iceland, Estonia, Lithuania, and Latvia, is renowned for its support of various projects in public and private sectors.
The main purpose of the newly inaugurated regional office is to facilitate closer interaction and cooperation with key players in the Baltic region. The location of NIB’s new office within the Citadele Business Centre in Riga strategically places it in proximity to other financial institutions, government offices, and business centres, facilitating collaboration and engagement.
The choice of Riga as the hub’s location reflects NIB’s desire to enhance its presence in the Baltic region and sends a clear signal of NIB’s commitment to foster economic growth and expand lending opportunities within Latvia and the Baltic States.
Since Latvia’s accession to NIB in 2005, alongside the other Baltic countries, NIB has made substantial investments, totalling approximately EUR 1.5 billion, across more than 120 projects. Recent notable projects in Latvia include initiatives in heating, electricity, and transportation infrastructure, development of Preses Nama kvartāls, and the Ķekava bypass road project.
With an impressive AAA credit rating from leading rating agencies, NIB is striving to make a lasting impact on Latvia’s economic landscape, focusing on sustainable growth and development in the Baltic region.
To learn more about the NIB and its offers, please visit the bank’s website.
