Nordic Investment Bank 18K Annual report (foreign governments) | SEC 17 Jul 03

EXHIBIT V

NORDIC INVESTMENT BANK

Schedule of Funded Debt, April 30, 2003 (in thousands)

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


US dollars	0.0000	1988 - 2003	49,910	49,910	182,323	182,323	**
US dollars	0.0000	1990 - 2003	12,716	12,716	40,242	40,242	**
US dollars	0.0000	1991 - 2003	11,801	11,801	33,031	33,031	**
US dollars	7.5000	1995 - 2005	200,000	200,000	200,000	200,000
US dollars	5.8750	1998 - 2008	500,000	500,000	500,000	500,000
US dollars	5.8750	1999 - 2008	150,000	150,000	100,647	100,647
US dollars	5.4000	1999 - 2009	100,000	100,000	100,000	100,000
US dollars	5.7000	2001 - 2007	100,000	100,000	100,000	100,000
US dollars	5.4600	2001 - 2008	56,000	56,000	40,000	40,000
US dollars	6.2300	2002 - 2022	20,000	20,000	20,000	20,000
US dollars	6.2100	2002 - 2022	20,000	20,000	20,000	20,000
US dollars	6.1850	2002 - 2022	20,000	20,000	20,000	20,000
US dollars	6.2500	2002 - 2022	20,000	20,000	20,000	20,000
US dollars	7.0000	2002 - 2022	10,000	10,000	10,700	10,700	**
US dollars	0.0000	2002 - 2022	19,798	19,798	21,133	21,133	**
US dollars	4.5500	2002 - 2006	103,000	103,000	103,000	103,000
US dollars	3.6500	2002 - 2006	50,000	50,000	50,000	50,000
US dollars	6.6800	2002 - 2032	25,007	25,007	25,007	25,007
US dollars	0.5000	2002 - 2012	142,000	142,000	142,000	142,000
US dollars	6.6000	2002 - 2032	12,303	12,303	12,303	12,303
US dollars	2.7500	2002 - 2006	1,000,000	1,000,000	1,000,000	1,000,000
US dollars	0.5000	2002 - 2012	196,000	196,000	196,000	196,000
US dollars	3.7700	2002 - 2009	100,000	100,000	100,000	100,000
US dollars	0.5000	2003 - 2013	48,000	48,000	48,000	48,000
US dollars	2.3000	2003 - 2013	5,000	5,000	5,000	5,000
US dollars	6.7500	2003 - 2033	20,000	20,000	20,000	20,000
US dollars	0.5000	2003 - 2013	62,000	62,000	62,000	62,000
US dollars	6.3000	2003 - 2033	20,000	20,000	20,000	20,000
US dollars	6.0500	2003 - 2033	25,000	25,000	25,000	25,000
US dollars	0.0000	2003 - 2028	19,307	19,307	19,307	19,307
US dollars	3.1250	2003 - 2008	1,000,000	1,000,000	1,000,000	1,000,000

Japanese yen	3.5000	1994 - 2004	5,000,000	41,852	5,000,000	41,852
Japanese yen	4.7200	1994 - 2004	5,000,000	41,852	5,000,000	41,852
Japanese yen	4.5000	1994 - 2004	5,000,000	41,852	5,000,000	41,852
Japanese yen	4.4000	1994 - 2004	3,000,000	25,111	3,000,000	25,111
Japanese yen	5.7000	1994 - 2004	10,000,000	83,704	10,000,000	83,704
Japanese yen	3.0450	1995 - 2007	5,000,000	41,852	5,000,000	41,852
Japanese yen	0.0000	1995 - 2010	2,000,000	16,741	2,000,000	16,741
Japanese yen	4.0000	1995 - 2005	5,000,000	41,852	5,000,000	41,852
Japanese yen	3.1600	1996 - 2006	5,000,000	41,852	5,000,000	41,852
Japanese yen	Fixed	1996 - 2006	3,000,000	25,111	3,000,000	25,111
Japanese yen	3.0200	1997 - 2007	9,588,000	80,256	9,588,000	80,256
Japanese yen	Floating	1997 - 2007	2,000,000	16,741	2,000,000	16,741
Japanese yen	3.2000	1997 - 2007	9,270,000	77,594	9,270,000	77,594
Japanese yen	3.0800	1997 - 2007	9,450,000	79,101	9,450,000	79,101
Japanese yen	3.1000	1997 - 2007	9,909,600	82,948	9,909,600	82,948

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


Japanese yen	5.2400	1997 - 2022	5,000,000	41,852	5,000,000	41,852
Japanese yen	Floating	1998 - 2013	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1998 - 2018	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	1998 - 2028	4,000,000	33,482	4,000,000	33,482
Japanese yen	Floating	1999 - 2014	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1999 - 2019	500,000	4,185	500,000	4,185
Japanese yen	Floating	1999 - 2017	4,000,000	33,482	4,000,000	33,482
Japanese yen	Floating	1999 - 2009	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1999 - 2019	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1999 - 2019	500,000	4,185	500,000	4,185
Japanese yen	Floating	1999 - 2014	500,000	4,185	500,000	4,185
Japanese yen	2.0000	1999 - 2011	3,000,000	25,111	3,000,000	25,111
Japanese yen	Floating	1999 - 2019	500,000	4,185	500,000	4,185
Japanese yen	Floating	1999 - 2019	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1999 - 2014	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	1999 - 2019	1,000,000	8,370	1,000,000	8,370
Japanese yen	3.0000	1999 - 2004	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	1999 - 2011	500,000	4,185	500,000	4,185
Japanese yen	Floating	1999 - 2019	1,100,000	9,207	1,100,000	9,207
Japanese yen	2.6750	1999 - 2011	8,000,000	66,963	8,000,000	66,963
Japanese yen	Floating	2000 - 2020	1,000,000	8,370	1,000,000	8,370
Japanese yen	3.3200	2000 - 2020	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2000 - 2021	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2000 - 2025	1,300,000	10,882	1,300,000	10,882
Japanese yen	Floating	2000 - 2020	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2001 - 2026	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	2001 - 2026	3,000,000	25,111	3,000,000	25,111
Japanese yen	Floating	2001 - 2026	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2026	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2021	800,000	6,696	800,000	6,696
Japanese yen	Floating	2001 - 2031	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2021	3,700,000	30,971	3,700,000	30,971
Japanese yen	Floating	2001 - 2016	3,000,000	25,111	3,000,000	25,111
Japanese yen	Floating	2001 - 2026	2,200,000	18,415	2,200,000	18,415
Japanese yen	Floating	2001 - 2031	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2019	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2021	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2026	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2001 - 2031	5,000,000	41,852	5,000,000	41,852
Japanese yen	Floating	2002 - 2031	2,700,000	22,600	2,700,000	22,600
Japanese yen	Floating	2002 - 2027	1,300,000	10,882	1,300,000	10,882
Japanese yen	Floating	2002 - 2032	5,500,000	46,037	5,500,000	46,037
Japanese yen	Floating	2002 - 2032	2,900,000	24,274	2,900,000	24,274
Japanese yen	Floating	2002 - 2027	1,200,000	10,045	1,200,000	10,045
Japanese yen	Floating	2002 - 2022	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,200,000	10,045	1,200,000	10,045
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,400,000	11,719	1,400,000	11,719
Japanese yen	Floating	2002 - 2032	2,200,000	18,415	2,200,000	18,415

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2022	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,700,000	14,230	1,700,000	14,230
Japanese yen	Floating	2002 - 2032	1,400,000	11,719	1,400,000	11,719
Japanese yen	Floating	2002 - 2032	1,700,000	14,230	1,700,000	14,230
Japanese yen	Floating	2002 - 2032	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	2002 - 2032	1,200,000	10,045	1,200,000	10,045
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2002 - 2032	1,300,000	10,882	1,300,000	10,882
Japanese yen	Floating	2002 - 2032	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2002 - 2022	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,200,000	10,045	1,200,000	10,045
Japanese yen	Floating	2002 - 2027	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2002 - 2032	2,200,000	18,415	2,200,000	18,415
Japanese yen	Floating	2002 - 2027	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2027	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2002 - 2032	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	2002 - 2032	2,000,000	16,741	2,000,000	16,741
Japanese yen	Floating	2002 - 2032	3,000,000	25,111	3,000,000	25,111
Japanese yen	Floating	2002 - 2032	1,400,000	11,719	1,400,000	11,719
Japanese yen	Floating	2002 - 2027	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	3,200,000	26,785	3,200,000	26,785
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	3.4800	2002 - 2014	5,000,000	41,852	5,000,000	41,852
Japanese yen	Floating	2002 - 2017	1,100,000	9,207	1,100,000	9,207
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2002 - 2032	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	3,000,000	25,111	3,000,000	25,111
Japanese yen	Floating	2003 - 2023	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2033	1,000,000	8,370	1,000,000	8,370
Japanese yen	Floating	2003 - 2018	1,000,000	8,370	1,000,000	8,370

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


EUR	Floating	1993 - 2003	50,000	55,655	31,580	35,152
EUR	4.1250	1999 - 2011	250,000	278,276	250,000	278,276
EUR	Floating	1999 - 2009	10,000	11,131	10,000	11,131
EUR	0.0000	1999 - 2004	39,000	43,411	39,000	43,411
EUR	0.0000	1999 - 2004	10,003	11,134	10,003	11,134
EUR	3.3600	2001 - 2005	20,000	22,262	17,182	19,125
EUR	6.5100	1995 - 2003	15,339	17,074	15,339	17,074
EUR	9.6700	1996 - 2021	60,101	66,899	60,101	66,899
EUR	10.1200	1996 - 2006	60,101	66,899	31,205	34,734
EUR	7.7000	1996 - 2006	84,142	93,659	84,142	93,659
EUR	10.8000	1993 - 2003	103,291	114,973	95,545	106,351
EUR	Floating	1993 - 2003	25,823	28,744	25,823	28,744
EUR	7.1000	1998 - 2009	77,469	86,231	55,873	62,192
EUR	6.7900	1996 - 2003	24,940	27,761	24,940	27,761
EUR	Floating	1997 - 2007	12,470	13,880	3,177	3,536
EUR	Floating	1997 - 2007	12,470	13,880	5,671	6,312
EUR	Floating	1997 - 2007	12,470	13,880	4,798	5,341
EUR	Floating	1997 - 2007	12,470	13,880	4,798	5,341
EUR	6.2500	1996 - 2004	49,579	55,187	49,579	55,187
EUR	5.7500	1996 - 2003	49,579	55,187	49,579	55,187
EUR	5.5000	1997 - 2005	49,579	55,187	49,579	55,187
EUR	Floating	1997 - 2007	48,021	53,452	48,021	53,452
EUR	Floating	1998 - 2008	91,469	101,814	91,469	101,814
EUR	4.2000	2002 - 2007	100,000	111,310	76,000	84,596
EUR	4.2900	2002 - 2006	5,000	5,566	5,000	5,566
EUR	3.9500	2002 - 2006	50,000	55,655	50,000	55,655
EUR	3.3900	2002 - 2007	10,000	11,131	10,000	11,131
EUR	0.5000	2003 - 2013	14,000	15,583	14,000	15,583
EUR	Floating	2003 - 2008	50,000	55,655	50,000	55,655

Pounds sterling	5.7500	1998 - 2008	200,000	319,397	315,000	503,050
Pounds sterling	0.0000	1999 - 2004	2,000	3,194	2,000	3,194	**
Pounds sterling	6.0000	1999 - 2004	200,000	319,397	410,000	654,764
Pounds sterling	5.2500	1999 - 2019	150,000	239,548	250,000	399,246
Pounds sterling	5.7500	1999 - 2014	100,000	159,698	150,000	239,548
Pounds sterling	Floating	2000 - 2024	100,000	159,698	120,000	191,638
Pounds sterling	Floating	2000 - 2020	80,000	127,759	100,000	159,698
Pounds sterling	5.2000	2001 - 2032	150,000	239,548	150,000	239,548
Pounds sterling	Floating	2001 - 2016	162,350	259,270	228,884	365,524	**

Swedish kronor	7.0000	1990 - 2007	400,000	48,834	400,000	48,834
Swedish kronor	6.0000	1997 - 2003	500,000	61,042	500,000	61,042
Swedish kronor	5.5000	1998 - 2004	500,000	61,042	500,000	61,042
Swedish kronor	5.2000	1998 - 2008	500,000	61,042	500,000	61,042
Swedish kronor	5.0000	1998 - 2003	200,000	24,417	200,000	24,417
Swedish kronor	4.8500	1998 - 2003	200,000	24,417	200,000	24,417
Swedish kronor	5.1500	1998 - 2007	500,000	61,042	500,000	61,042
Swedish kronor	4.7500	1998 - 2007	500,000	61,042	500,000	61,042
Swedish kronor	4.9000	1998 - 2007	100,000	12,208	100,000	12,208
Swedish kronor	5.2000	1998 - 2003	40,000	4,883	40,000	4,883
Swedish kronor	5.1600	1998 - 2003	100,000	12,208	100,000	12,208

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


Swedish kronor	5.2500	2001 - 2006	3,000,000	366,252	3,400,000	415,085

Norwegian kroner	7.1000	1996 - 2006	500,000	71,007	500,000	71,007
Norwegian kroner	5.5000	1998 - 2005	425,000	60,356	425,000	60,356
Norwegian kroner	5.9700	1998 - 2003	100,000	14,201	100,000	14,201
Norwegian kroner	5.5000	1999 - 2005	175,000	24,852	175,000	24,852
Norwegian kroner	5.0000	1999 - 2004	450,000	63,906	450,000	63,906
Norwegian kroner	5.0000	1999 - 2004	200,000	28,403	200,000	28,403
Norwegian kroner	5.0000	1999 - 2004	350,000	49,705	350,000	49,705
Norwegian kroner	6.0000	2001 - 2006	400,000	56,805	400,000	56,805
Norwegian kroner	6.2500	2002 - 2007	400,000	56,805	400,000	56,805
Norwegian kroner	6.1250	2003 - 2007	500,000	71,007	500,000	71,007

Danish kroner	4.0000	1996 - 2003	500,000	74,963	800,000	119,941
Danish kroner	10.2500	1997 - 2004	400,000	59,971	400,000	59,971
Danish kroner	5.5000	1998 - 2008	750,000	112,445	750,000	112,445

Australian dollars	4.8000	2002 - 2005	40,000	24,983	40,000	24,983
Australian dollars	5.7400	2002 - 2006	134,000	83,692	134,000	83,692
Australian dollars	0.5000	2002 - 2009	20,000	12,491	20,000	12,491
Australian dollars	4.9600	2002 - 2007	45,000	28,106	45,000	28,106
Australian dollars	4.7000	2002 - 2005	25,000	15,614	25,000	15,614
Australian dollars	4.1820	2003 - 2007	20,000	12,491	20,000	12,491
Australian dollars	4.6800	2003 - 2008	5,120,000	3,197,782	512,000	319,778

Canadian dollars	3.5000	2002 - 2004	50,000	34,702	50,000	34,702

Swiss francs	6.1250	1986 -	200,000	147,128	19,785	14,555

Hong Kong dollar	7.3700	1997 - 2004	1,000,000	128,223	1,000,000	128,223
Hong Kong dollar	8.6000	1998 - 2003	50,000	6,411	50,000	6,411
Hong Kong dollar	8.9400	1998 - 2003	50,000	6,411	50,000	6,411
Hong Kong dollar	8.9400	1998 - 2003	50,000	6,411	50,000	6,411
Hong Kong dollar	9.2000	1998 - 2003	1,000,000	128,223	1,000,000	128,223
Hong Kong dollar	9.9200	1998 - 2003	50,000	6,411	50,000	6,411
Hong Kong dollar	10.5000	1998 - 2008	50,000	6,411	50,000	6,411
Hong Kong dollar	0.0000	1998 - 2008	38,587	4,948	56,925	7,299	**
Hong Kong dollar	10.0000	1998 - 2003	75,000	9,617	75,000	9,617
Hong Kong dollar	7.7800	2000 - 2007	150,000	19,233	150,000	19,233
Hong Kong dollar	7.7900	2000 - 2005	500,000	64,111	500,000	64,111
Hong Kong dollar	7.8500	2000 - 2005	500,000	64,111	500,000	64,111
Hong Kong dollar	7.7500	2000 - 2007	100,000	12,822	100,000	12,822
Hong Kong dollar	6.9800	2000 - 2005	500,000	64,111	500,000	64,111
Hong Kong dollar	6.6300	2000 - 2005	100,000	12,822	100,000	12,822
Hong Kong dollar	6.1200	2001 - 2008	150,000	19,233	150,000	19,233
Hong Kong dollar	5.7000	2001 - 2006	130,000	16,669	130,000	16,669
Hong Kong dollar	6.0300	2001 - 2008	100,000	12,822	100,000	12,822
Hong Kong dollar	5.2500	2002 - 2007	1,000,000	128,223	1,000,000	128,223
Hong Kong dollar	5.0000	2002 - 2012	300,000	38,467	300,000	38,467
Hong Kong dollar	4.9300	2003 - 2013	100,000	12,822	100,000	12,822

			Initial amount		Amount outstanding at April 30, 2003

Currency	Interest %	Issue Date/Maturity	In currency of borrowing	In equivalent of USD	In currency of borrowing	In equivalent of USD	*


Czech koruna	13.8750	1998 - 2004	500,000	17,706	500,000	17,706

South African rand	0.0000	1997 - 2007	52,000	7,229	103,360	14,369	**
South African rand	0.0000	1998 - 2010	108,000	15,014	189,939	26,404	**
South African rand	13.5000	2000 - 2010	100,000	13,901	100,000	13,901
South African rand	12.5000	2000 - 2005	100,000	13,901	100,000	13,901
South African rand	11.0000	2001 - 2006	100,000	13,901	100,000	13,901
South African rand	12.0000	2002 - 2007	150,000	20,852	150,000	20,852

New Taiwan dollars	3.5500	2001 - 2004	5,000,000	143,681	5,000,000	143,681
New Taiwan dollars	3.6500	2001 - 2006	3,500,000	100,577	3,500,000	100,577
New Taiwan dollars	2.6000	2002 - 2005	1,000,000	28,736	1,000,000	28,736
New Taiwan dollars	2.8000	2002 - 2006	500,000	14,368	500,000	14,368
New Taiwan dollars	2.8200	2002 - 2006	700,000	20,115	700,000	20,115
New Taiwan dollars	2.9000	2002 - 2007	500,000	14,368	500,000	14,368
New Taiwan dollars	2.9100	2002 - 2007	500,000	14,368	500,000	14,368
New Taiwan dollars	2.9400	2002 - 2008	800,000	22,989	800,000	22,989
New Taiwan dollars	3.0000	2002 - 2008	1,000,000	28,736	1,000,000	28,736
New Taiwan dollars	2.81-3.41	2003 - 2010	4,000,000	114,945	4,000,000	114,945
New Taiwan dollars	2.2100	2003 - 2010	3,000,000	86,208	3,000,000	86,208

Polish zloty	15.5000	2000 - 2004	100,000	26,080	50,000	13,040
Polish zloty	5.5000	2002 - 2022	100,000	26,080	100,000	26,080

Estonian kroon	7.5000	1999 - 2004	50,000	3,557	50,000	3,557

Singapore dollars	4.1250	1999 - 2004	200,000	112,639	200,000	112,639
Singapore dollars	4.7500	1999 - 2009	150,000	84,479	150,000	84,479

Slovakian koruna	8.4000	2000 - 2007	1,000,000	27,201	1,000,000	27,201

Icelandic kronur	4.7500	2002 - 2017	3,000,000	39,939	3,049,776	40,602	**

New Zealand dollars	6.0000	2003 - 2008	100,000	55,935	100,000	55,935

TOTAL					USD	14,485,637

* Convenience translations into US dollars have been made at the following exchange rates:
1 US dollar = 119.46815 Japanese yen; 0.89839 EUR; 0.62618 Pounds sterling;
8.19109 Swedish kronor; 7.04160 Norwegian kroner; 6.66993 Danish kroner;
1.60111 Australian dollars; 1.44084 Canadian dollars; 1.35936 Swiss francs;
7.79894 Hong Kong dollars; 28.23915 Czech koruna; 7.19351 South African rand;
34.79938 New Taiwan dollars; 3.83434 Polish zloty; 14.05678 Estonian kroon;
1.77558 Singapore dollar; 36.76309 Slovakian koruna; 75.11454 Icelandic kronur and 1.78780 New Zealand dollars.

** The amount stated as outstanding at April 30, 2003 includes accrued amortization on zero coupon obligations and obligations issued at a deep discount with redemption prices substantially above par.

Nordic Investment Bank 18-KAnnual report (foreign governments)