Dear Sirs, We refer to the Fiscal Agency Agreement dated May 22, 2007 (the “Fiscal Agency Agreement”) entered into between Nordic Investment Bank (the “Bank”) and Citibank, N.A. as fiscal agent (the “Fiscal Agent”) and hereby confirm our agreement...

Exhibit VIII

Citibank, N.A.
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000

Attention: Corporate Trust Services
Xxxx Xxxxxx

October 2, 2009

Dear Sirs,

We refer to the Fiscal Agency Agreement dated May 22, 2007 (the “Fiscal Agency Agreement”) entered into between Nordic Investment Bank (the “Bank”) and Citibank, N.A. as fiscal agent (the “Fiscal Agent”) and hereby confirm our agreement with you that the first sentence of Section 4(b) of the Fiscal Agency Agreement shall be amended and restated as follows:

“The Notes shall be executed on behalf of the Bank by any two duly authorized signatories of the Bank.”

This agreement shall be governed by and construed in accordance with the laws of the State of New York, except with respect to its authorization and execution on behalf of the Bank.

If the foregoing correctly sets forth our agreement, please indicate your acceptance hereof in the space provided for that purpose below.

Yours faithfully, NORDIC INVESTMENT BANK
By:	/s/ Xxxx Xxxxxxxx
	Name:	Xxxx Xxxxxxxx
	Title:	Chief Counsel
By:	/s/ Xxxxxxxx xx Xxxxxxx
	Name:	Xxxxxxxx xx Xxxxxxx
	Title:	Senior Counsel
Confirmed and accepted: CITIBANK, N.A., as Fiscal Agent
By:	/s/ Xxxx Xxxxxx
	Authorized Signatory