Nordic Investment Bank 18K Annual report (foreign governments) | SEC 14 May 09

Exhibit I

NORDIC INVESTMENT BANK

Summary Schedule of Funded Debt

Outstanding at December 31, 2008


									Amount
									outstanding at
									December 31,
					Initial amount				2008
					In currency of		In equivalent		in equivalent of
Currency	Issues		Interest %	Maturities	borrowing		of USD		USD *

					(in thousands)		(in thousands)		(in thousands)
US dollars		79	0.000 - 12.700	2009-2038		13,019,113		13,019,113		13,178,258	*
Japanese yen		144	0.000 - 5.240	2009-2038		256,840,000		2,833,710		2,821,431	*
Pound Sterling		13	4.800 - 6.125	2009-2032		1,547,350		2,260,836		2,489,037	*
EUR		16	0.000 - 9.670	2009-2045		649,248		903,558		832,406	*
Swedish kronor		2	0.0000	2017-2018		162,048		20,747		20,747
Norwegian kroner		6	4.250 - 8.500	2009-2012		2,518,000		359,415		359,415
Australian dollars		11	0.5000 - 6.390	2009-2011		2,130,000		1,462,130		1,462,130
Canadian dollars		3	3.950 - 5.150	2010-2017		460,000		376,622		213,119
Swiss francs		2	6.125	2010-Perp.		208,000		194,932		25,838	*
Hong Kong dollar		10	0.000 - 5.630	2009-2017		2,614,070		337,295		340,663
South African rand		3	0.000 - 13.5000	2010-2027		370,000		39,408		69,872
New Taiwan dollars		3	2.340 - 2.940	2010		9,000,000		274,265		204,175	*
Polish zloty		1	5.500	2022		100,000		33,507		33,507
Singapore dollars		1	4.750	2009		150,000		104,169		104,169
Slovakian koruna		2	4.170	2009		3,750,000		173,235		173,235
Icelandic kronur		2	4.750 - 11.250	2009-2017		6,000,000		28,794		26,882
New Zealand dollars		6	6.250 - 7.500	2009-2015		1,195,000		687,479		687,479
New Turkish lira		10	0.000 - 16.250	2009-2022		408,201		264,377		253,919
Mexican peso		2	7.430 - 8.090	2009-2011		1,373,690		99,399		48,386
Russian roubles		2	0.000 - 5.750	2011-2018		2,358,720		79,515		79,515
Argentine pesos		2	16.000 - 19.000	2011-2013		76,050		22,043		22,043

TOTAL										23,446,226


*		Includes a floating rate issue.

The figures included in this schedule do not agree directly to the amounts in the balance sheet, which also include items such as premiums, discounts and adjustments related to hedge accounting.

Schedule of Annual Amortization of Funded Debt

Outstanding at December 31, 2008 (in millions of EUR)


Currency	2009		2010		2011		2012		2013		After 2013		Total
U.S. dollars		1,609.8		1,823.6		2,479.0		386.6		1,156.8		2,013.4		9,469.2
Japanese yen		7.9		15.9		91.1				7.9		1,904.5		2,027.3
Pound Sterling		52.5		267.8				525.0				943.2		1,788.5
EUR		59.8		93.0		250.0				14.0		181.3		598.1
Swedish kronor												14.9		14.9
Norwegian kroner		7.0		200.0				51.3				0.0		258.3
Swiss francs				5.4								13.2		18.6
Australian dollars		454.3		103.1		493.2						0.0		1,050.6
Canadian dollars				35.3								117.8		153.1
Hong Kong dollar		64.9		83.4				27.8		9.3		59.4		244.8
New Taiwan dollars				146.7								0.0		146.7
South African rand				46.0								4.2		50.2
Polish zloty												24.1		24.1
Singapore dollars		74.8										0.0		74.8
Slovakian koruna		124.5										0.0		124.5
Icelandic kronur		10.3										9.0		19.3
New Zealand dollars		183.9		268.7								41.4		494.0
New Turkish lira		107.1										75.4		182.5
Mexican Peso		19.4				15.4						0.0		34.8
Russian roubles				48.4								8.7		57.1
Argentine pesos						6.3				9.5		0.0		15.8

Total		2,776.2		3,137.3		3,335.0		990.7		1,197.5		5,410.5		16,847.2

The figures included in this schedule do not agree directly to the amounts in the balance sheet, which also include items such as premiums, discounts and adjustments related to hedge accounting.

NORDIC INVESTMENT BANK

Schedule of Funded Debt, December 31, 2008 (in thousands)


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
US dollars		5.4000		1999-2009		100,000		100,000		100,000		100,000
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		0.0000		2002-2022		19,798		19,798		29,284		29,284	**
US dollars		6.6800		2002-2032		25,007		25,007		36,860		36,860	**
US dollars		0.5000		2002-2012		142,000		142,000		142,000		142,000
US dollars		6.6000		2002-2032		12,303		12,303		18,053		18,053	**
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		0.5000		2003-2013		62,000		62,000		62,000		62,000	**
US dollars		0.0000		2003-2033		20,000		20,000		27,145		27,145	**
US dollars		0.0000		2003-2033		25,000		25,000		33,535		33,535	**
US dollars		0.0000		2003-2024		28,386		28,386		38,311		38,311	**
US dollars		0.0000		2003-2028		24,426		24,426		32,381		32,381	**
US dollars		0.0000		2003-2033		20,000		20,000		26,739		26,739	**
US dollars		0.0000		2003-2033		11,400		11,400		15,256		15,256	**
US dollars		0.0000		2003-2033		19,238		19,238		25,527		25,527	**
US dollars		0.0000		2003-2030		21,766		21,766		28,868		28,868	**
US dollars		0.0000		2003-2033		20,000		20,000		27,082		27,082	**
US dollars		0.0000		2003-2033		20,000		20,000		27,069		27,069	**
US dollars		0.0000		2003-2025		20,175		20,175		27,191		27,191	**
US dollars		0.0000		2003-2033		30,000		30,000		41,257		41,257	**
US dollars		0.0000		2003-2033		100,000		100,000		139,342		139,342	**
US dollars		0.0000		2003-2033		50,000		50,000		69,793		69,793	**
US dollars		0.5000		2003-2014		150,000		150,000		102,000		102,000
US dollars		4.0000		2003-2009		40,000		40,000		40,000		40,000
US dollars		0.0000		2003-2033		25,000		25,000		34,851		34,851	**
US dollars		3.8800		2003-2009		100,000		100,000		100,000		100,000
US dollars		2.8750		2004-2009		1,000,000		1,000,000		1,000,000		1,000,000
US dollars		3.8800		2004-2011		100,000		100,000		100,000		100,000
US dollars		4.0400		2004-2012		100,000		100,000		100,000		100,000
US dollars		4.4300		2004-2014		100,000		100,000		100,000		100,000
US dollars		4.2100		2004-2012		100,000		100,000		100,000		100,000
US dollars		3.2600		2004-2014		100,000		100,000		100,000		100,000
US dollars		3.8750		2005-2010		1,000,000		1,000,000		1,000,000		1,000,000
US dollars		12.7000		2005-2015		25,000		25,000		25,000		25,000
US dollars		4.2500		2005-2009		500,000		500,000		500,000		500,000
US dollars		4.8750		2006-2011		1,000,000		1,000,000		1,000,000		1,000,000
US dollars		6.3400		2006-2009		33,340		33,340		37,702		37,702	**
US dollars		4.6800		2006-2010		16,000		16,000		16,000		16,000
US dollars		0.0000		2006-2036		29,999		29,999		34,392		34,392	**
US dollars		0.0000		2006-2036		26,345		26,345		30,106		30,106	**
US dollars		4.3500		2006-2010		14,000		14,000		14,000		14,000
US dollars		5.0000		2007-2017		1,000,000		1,000,000		1,000,000		1,000,000


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
US dollars		0.0000		2007-2037		30,127		30,127		32,151		32,151	**
US dollars		0.0000		2007-2027		29,191		29,191		31,044		31,044	**
US dollars		0.0000		2007-2037		30,000		30,000		31,935		31,935	**
US dollars		0.0000		2007-2037		29,391		29,391		31,430		31,430	**
US dollars		0.0000		2007-2037		10,000		10,000		10,735		10,735	**
US dollars		4.5000		2007-2010		1,500,000		1,500,000		1,500,000		1,500,000
US dollars		4.1300		2008-2011		100,000		100,000		100,000		100,000
US dollars	Floating			2008-2009		100,000		100,000		100,000		100,000
US dollars		3.1250		2008-2011		1,250,000		1,250,000		1,250,000		1,250,000
US dollars		2.9200		2008-2009		100,000		100,000		100,000		100,000
US dollars		6.0000		2008-2038		44,000		44,000		44,000		44,000
US dollars		0.0000		2008-2038		42,094		42,094		42,094		42,094	**
US dollars		2.0000		2008-2009		100,000		100,000		100,000		100,000
US dollars		2.0100		2008-2009		100,000		100,000		100,000		100,000
US dollars		0.0000		2008-2038		10,000		10,000		10,000		10,000	**
US dollars		3.6250		2008-2013		1,000,000		1,000,000		1,000,000		1,000,000
US dollars		0.0000		2008-2038		10,000		10,000		10,000		10,000	**
US dollars		0.0000		2008-2036		41,136		41,136		41,136		41,136	**
US dollars		6.6500		2008-2038		30,000		30,000		30,000		30,000
US dollars		0.0000		2008-2038		30,000		30,000		30,000		30,000	**
US dollars		0.0000		2008-2038		30,000		30,000		30,000		30,000	**
US dollars	Floating			2008-2010		8,000		8,000		8,000		8,000
US dollars		0.0000		2008-2038		10,000		10,000		10,000		10,000	**
US dollars		3.5000		2008-2013		500,000		500,000		500,000		500,000
US dollars	Floating			2008-2011		100,000		100,000		100,000		100,000
US dollars		0.0000		2008-2038		20,000		20,000		20,000		20,000	**
US dollars		0.0000		2008-2038		20,000		20,000		20,000		20,000	**
US dollars		0.0000		2008-2038		20,000		20,000		20,000		20,000	**
US dollars		2.3750		2008-2011		1,000,000		1,000,000		1,000,000		1,000,000
US dollars		0.0000		2008-2038		30,000		30,000		30,000		30,000
US dollars		0.0000		2008-2038		19,991		19,991		19,991		19,991
US dollars		0.0000		2008-2038		20,000		20,000		20,000		20,000

Japanese yen		0.0000		1995-2010		2,000,000		22,066		2,000,000		22,066
Japanese yen		5.2400		1997-2022		5,000,000		55,165		5,000,000		55,165
Japanese yen	Floating			1998-2013		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			1998-2018		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating			1998-2028		4,000,000		44,132		4,000,000		44,132
Japanese yen	Floating			1999-2014		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			1999-2019		500,000		5,516		500,000		5,516
Japanese yen	Floating			1999-2017		4,000,000		44,132		4,000,000		44,132
Japanese yen	Floating			1999-2009		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			1999-2019		1,000,000		11,033		1,000,000		11,033
Japanese yen		2.0000		1999-2011		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating			1999-2019		500,000		5,516		500,000		5,516
Japanese yen	Floating			1999-2014		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating			1999-2019		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			1999-2019		1,100,000		12,136		1,100,000		12,136
Japanese yen		2.6750		1999-2011		8,000,000		88,264		8,000,000		88,264
Japanese yen		3.3200		2000-2020		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2001-2026		1,000,000		11,033		1,000,000		11,033


								Amount outstanding at
				Initial amount				December 31, 2008
						In				In
		Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %	Maturity		borrowing		of USD		borrowing		of USD *
Japanese yen	Floating		2001-2016		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating		2001-2031		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2031		2,700,000		29,789		2,700,000		29,789
Japanese yen	Floating		2002-2027		1,300,000		14,343		1,300,000		14,343
Japanese yen	Floating		2002-2032		5,500,000		60,681		5,500,000		60,681
Japanese yen	Floating		2002-2032		2,900,000		31,996		2,900,000		31,996
Japanese yen	Floating		2002-2027		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating		2002-2032		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating		2002-2032		1,400,000		15,446		1,400,000		15,446
Japanese yen	Floating		2002-2032		2,200,000		24,273		2,200,000		24,273
Japanese yen	Floating		2002-2032		1,700,000		18,756		1,700,000		18,756
Japanese yen	Floating		2002-2032		1,400,000		15,446		1,400,000		15,446
Japanese yen	Floating		2002-2032		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating		2002-2032		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2032		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating		2002-2032		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2032		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating		2002-2032		2,200,000		24,273		2,200,000		24,273
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2032		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating		2002-2032		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating		2002-2032		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating		2002-2032		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating		2002-2032		1,400,000		15,446		1,400,000		15,446
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2002-2017		1,100,000		12,136		100,000		1,103
Japanese yen	Floating		2002-2032		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2023		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2018		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		2,200,000		24,273		2,200,000		24,273
Japanese yen	Floating		2003-2033		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating		2003-2033		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating		2003-2028		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2023		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2003-2033		1,700,000		18,756		1,700,000		18,756
Japanese yen	Floating		2003-2033		1,300,000		14,343		1,300,000		14,343
Japanese yen	Floating		2003-2033		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating		2006-2036		1,200,000		13,240		1,200,000		13,240


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
Japanese yen	Floating			2006-2036		5,000,000		55,165		5,000,000		55,165
Japanese yen	Floating			2006-2036		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2006-2036		1,100,000		12,136		1,100,000		12,136
Japanese yen	Floating			2006-2022		500,000		5,516		500,000		5,516
Japanese yen	Floating			2006-2036		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating			2006-2036		500,000		5,516		500,000		5,516
Japanese yen	Floating			2006-2036		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2006-2036		900,000		9,930		900,000		9,930
Japanese yen	Floating			2006-2036		700,000		7,723		700,000		7,723
Japanese yen	Floating			2006-2036		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating			2006-2036		500,000		5,516		500,000		5,516
Japanese yen		2.2350		2006-2021		5,000,000		55,165		5,000,000		55,165
Japanese yen	Floating			2006-2022		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2006-2036		1,600,000		17,653		1,600,000		17,653
Japanese yen		2.4865		2006-2026		5,000,000		55,165		5,000,000		55,165
Japanese yen	Floating			2006-2036		700,000		7,723		700,000		7,723
Japanese yen	Floating			2006-2036		500,000		5,516		500,000		5,516
Japanese yen	Floating			2006-2036		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2006-2036		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2006-2036		500,000		5,516		500,000		5,516
Japanese yen	Floating			2006-2036		300,000		3,310		300,000		3,310
Japanese yen	Floating			2006-2036		300,000		3,310		300,000		3,310
Japanese yen	Floating			2006-2036		1,800,000		19,859		1,800,000		19,859
Japanese yen	Floating			2006-2036		700,000		7,723		700,000		7,723
Japanese yen	Floating			2006-2036		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		900,000		9,930		900,000		9,930
Japanese yen	Floating			2007-2037		1,200,000		13,240		1,200,000		13,240
Japanese yen	Floating			2007-2036		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2022		900,000		9,930		900,000		9,930
Japanese yen	Floating			2007-2022		500,000		5,516		500,000		5,516
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		2,100,000		23,169		2,100,000		23,169
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2027		500,000		5,516		500,000		5,516
Japanese yen	Floating			2007-2037		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		400,000		4,413		400,000		4,413
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2027		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2017		50,000,000		551,649		50,000,000		551,649
Japanese yen	Floating			2007-2037		2,000,000		22,066		2,000,000		22,066
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2017		6,300,000		69,508		6,256,000		69,022


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
Japanese yen	Floating			2007-2037		500,000		5,516		500,000		5,516
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		2,500,000		27,582		2,500,000		27,582
Japanese yen	Floating			2007-2037		2,500,000		27,582		2,500,000		27,582
Japanese yen	Floating			2007-2027		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		300,000		3,310		300,000		3,310
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2017		4,240,000		46,780		4,225,000		46,614
Japanese yen		2.3950		2007-2027		3,000,000		33,099		3,000,000		33,099
Japanese yen	Floating			2007-2027		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		600,000		6,620		600,000		6,620
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2007-2037		1,500,000		16,549		1,500,000		16,549
Japanese yen	Floating			2007-2037		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2008-2038		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2008-2038		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2008-2038		500,000		5,516		500,000		5,516
Japanese yen	Floating			2008-2028		500,000		5,516		500,000		5,516
Japanese yen	Floating			2008-2018		1,900,000		20,963		1,846,000		20,367
Japanese yen	Floating			2008-2023		900,000		9,930		900,000		9,930
Japanese yen	Floating			2008-2018		500,000		5,516		500,000		5,516
Japanese yen	Floating			2008-2038		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2008-2038		1,000,000		11,033		1,000,000		11,033
Japanese yen	Floating			2008-2038		500,000		5,516		500,000		5,516

EUR		4.1250		1999-2011		250,000		347,925		250,000		347,925
EUR	Floating			1999-2009		10,000		13,917		4,000		5,567
EUR		9.6700		1996-2021		60,101		83,643		60,101		83,643
EUR		7.1000		1998-2009		77,469		107,814		55,873		77,758
EUR		0.5000		2003-2013		14,000		19,484		14,000		19,484
EUR		5.0000		2004-2029		10,000		13,917		10,000		13,917
EUR		5.0000		2004-2029		10,000		13,917		10,000		13,917
EUR		4.1490		2005-2015		30,000		41,751		30,000		41,751
EUR	Floating			2005-2010		30,000		41,751		30,000		41,751
EUR	Floating			2005-2010		30,000		41,751		30,000		41,751
EUR	Floating			2005-2010		20,000		27,834		20,000		27,834
EUR		7.0000		2005-2025		50,000		69,585		17,575		24,459
EUR		4.2000		2005-2045		15,000		20,875		15,000		20,875
EUR		3.2200		2006-2010		5,000		6,958		5,000		6,958
EUR		0.0000		2006-2016		29,678		41,303		38,573		53,682	**
EUR		4.1530		2008-2010		8,000		11,134		8,000		11,134

Pounds sterling		5.2500		1999-2019		150,000		219,165		210,000		306,831
Pounds sterling		5.7500		1999-2014		100,000		146,110		127,500		186,290
Pounds sterling	Floating			2000-2024		100,000		146,110		120,000		175,332
Pounds sterling	Floating			2000-2020		80,000		116,888		100,000		146,110
Pounds sterling		5.2000		2001-2032		150,000		219,165		44,160		64,522
Pounds sterling	Floating			2001-2016		162,350		237,210		296,874		433,763	**
Pounds sterling		4.8000		2004-2009		50,000		73,055		50,000		73,055
Pounds sterling		6.1250		2007-2010		250,000		365,275		250,000		365,275


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
Pounds sterling		4.8750		2008-2012		200,000		292,220		200,000		292,220
Pounds sterling		4.8750		2008-2012		100,000		146,110		100,000		146,110
Pounds sterling		4.8750		2008-2012		100,000		146,110		100,000		146,110
Pounds sterling		4.8750		2008-2012		100,000		146,110		100,000		146,110
Pounds sterling	Floating			2008-2010		5,000		7,306		5,000		7,306

Swedish kronor		0.0000		2008-2018		100,902		12,919		100,902		12,919	**
Swedish kronor		0.0000		2008-2017		61,146		7,829		61,146		7,829	**

Norwegian kroner		4.2500		2006-2012		500,000		71,369		500,000		71,369
Norwegian kroner		4.6250		2007-2010		1,000,000		142,738		1,000,000		142,738
Norwegian kroner		4.6250		2007-2010		750,000		107,054		750,000		107,054
Norwegian kroner		4.6250		2008-2010		100,000		14,274		100,000		14,274
Norwegian kroner		6.2300		2008-2010		100,000		14,274		100,000		14,274
Norwegian kroner		8.5000		2008-2009		68,000		9,706		68,000		9,706

Australian dollars		0.5000		2002-2009		20,000		13,729		20,000		13,729
Australian dollars		4.5300		2003-2009		58,000		39,814		58,000		39,814
Australian dollars		5.1300		2005-2009		20,000		13,729		20,000		13,729
Australian dollars		5.3750		2006-2011		300,000		205,934		300,000		205,934
Australian dollars		6.1250		2006-2009		300,000		205,934		300,000		205,934
Australian dollars		6.1250		2006-2009		200,000		137,289		200,000		137,289
Australian dollars		5.6000		2006-2009		323,000		221,722		323,000		221,722
Australian dollars		5.3750		2006-2011		200,000		137,289		200,000		137,289
Australian dollars		6.3900		2007-2010		209,000		143,467		209,000		143,467
Australian dollars		5.3750		2008-2011		300,000		205,934		300,000		205,934
Australian dollars		5.3750		2008-2011		200,000		137,289		200,000		137,289

Canadian dollars		3.9500		2003-2010		60,000		49,125		60,000		49,125
Canadian dollars		4.5000		2004-2014		100,000		81,874		100,000		81,874
Canadian dollars		5.1500		2007-2017		300,000		245,623		100,300		82,120

Swiss francs		6.1250		1986-		200,000		187,434		19,570		18,340
Swiss francs	Floating			2008-2010		8,000		7,497		8,000		7,497

Hong Kong dollar		5.0000		2002-2012		300,000		38,709		300,000		38,709
Hong Kong dollar		4.9300		2003-2013		100,000		12,903		100,000		12,903
Hong Kong dollar		5.3000		2003-2016		130,000		16,774		130,000		16,774
Hong Kong dollar		5.6300		2003-2017		376,000		48,516		376,000		48,516
Hong Kong dollar		3.1500		2004-2009		400,000		51,612		400,000		51,612
Hong Kong dollar		0.0000		2004-2017		108,070		13,944		134,166		17,312	**
Hong Kong dollar		3.7000		2005-2009		300,000		38,709		300,000		38,709
Hong Kong dollar		3.7700		2005-2010		500,000		64,515		500,000		64,515
Hong Kong dollar		3.8250		2005-2010		200,000		25,806		200,000		25,806
Hong Kong dollar		3.7700		2006-2010		200,000		25,806		200,000		25,806

South African rand		0.0000		1997-2027		52,000		5,538		54,915		5,849	**
South African rand		0.0000		1998-2010		108,000		11,503		391,111		41,656	**
South African rand		13.5000		2000-2010		100,000		10,651		100,000		10,651


									Amount outstanding at
					Initial amount				December 31, 2008
							In				In
			Issue Date/		In currency of		equivalent		In currency of		equivalent
Currency	Interest %		Maturity		borrowing		of USD		borrowing		of USD *
South African rand		9.6500		2008-2010		110,000		11,716		110,000		11,716

New Taiwan dollars		2,34-2,94		2003-2010		4,000,000		121,895		2,000,000		60,948
New Taiwan dollars	Floating			2003-2010		3,000,000		91,422		3,000,000		91,422
New Taiwan dollars	Floating			2003-2010		2,000,000		60,948		1,700,000		51,806

Polish zloty		5.5000		2002-2022		100,000		33,507		100,000		33,507

Singapore dollars		4.7500		1999-2009		150,000		104,169		150,000		104,169

Slovakian koruna		4.1700		2004-2009		2,000,000		92,392		2,000,000		92,392
Slovakian koruna		4.1700		2005-2009		1,750,000		80,843		1,750,000		80,843

Icelandic kronur		4.7500		2002-2017		3,000,000		14,397		2,601,525		12,485	**
Icelandic kronur		11.2500		2007-2009		3,000,000		14,397		3,000,000		14,397

New Zealand dollars		6.6250		2006-2009		100,000		57,530		100,000		57,530
New Zealand dollars		7.7500		2007-2010		400,000		230,119		400,000		230,119
New Zealand dollars		7.4900		2007-2009		345,000		198,477		345,000		198,477
New Zealand dollars		7.7500		2008-2010		250,000		143,824		250,000		143,824
New Zealand dollars		7.5000		2008-2015		70,000		40,271		70,000		40,271
New Zealand dollars		7.5000		2008-2015		30,000		17,259		30,000		17,259

New Turkish lira		12.5000		2005-2009		50,000		32,383		50,000		32,383
New Turkish lira		11.0000		2005-2009		50,000		32,383		50,000		32,383
New Turkish lira		12.5000		2005-2009		50,000		32,383		25,000		16,192
New Turkish lira		10.0000		2005-2009		30,000		19,430		30,000		19,430
New Turkish lira		14.0000		2006-2016		32,500		21,049		32,500		21,049
New Turkish lira		16.2500		2006-2009		75,000		48,575		75,000		48,575
New Turkish lira		0.0000		2007-2016		37,000		23,964		42,475		27,510	**
New Turkish lira		0.0000		2007-2016		4,049		2,622		4,641		3,006	**
New Turkish lira		0.0000		2007-2019		23,602		15,286		26,387		17,090	**
New Turkish lira		0.0000		2008-2022		56,050		36,302		56,050		36,302	**

Mexican Peso		8.0900		2006-2011		1,000,000		72,359		295,000		21,346
Mexican Peso		7.4300		2006-2009		373,690		27,040		373,690		27,040

Russian roubles		5.7500		2007-2011		2,000,000		67,422		2,000,000		67,422
Russian roubles		0.0000		2008-2018		358,720		12,093		358,720		12,093

Argentine pesos		16.0000		2008-2011		30,300		8,783		30,300		8,783
Argentine pesos		19.0000		2008-2013		45,750		13,261		45,750		13,261

TOTAL									USD			23,446,226


*		Convenience translations into US dollars have been made at the following exchange rates:

		1 US dollar = 90.637350 Japanese yen; 0.718546 EUR; 0.684415 Pounds sterling; 7.810591 Swedish kronor; 7.005820 Norwegian kroner; 1.456779 Australian dollars; 1.221384 Canadian dollars; 1.067040 Swiss francs; 7.750090 Hong Kong dollars; 9.389021 South African rand; 32.815003 New Taiwan dollars;


		2.984479 Polish zloty; 1,439966 Singapore dollar; 21.646907 Slovakian koruna; 208.378242 Icelandic kronur; 1.738234 New Zealand dollars; 1.544011 New Turkish lira; 13.820004 Mexican Peso; 29.663721 Russian roubles and 3.450004 Argentine pesos.

**		The amount stated as outstanding at December 31, 2008 includes accrued amortization on zero coupon obligations and obligations issued at a deep discount with redemption prices substantially above par.

The figures included in this schedule do not agree directly to the amounts in the balance sheet, which also include items such as premiums, discounts and adjustments related to hedge accounting.

Nordic Investment Bank 18-KAnnual report (foreign governments)