Exhibit X

Consent of Independent Auditors

The Board of Directors

Nordic Investment Bank

We consent to the incorporation by reference in the registration statement (No. 333-250159) on Schedule B of Nordic Investment Bank of our report dated 13 August 2025, with respect to the statement of financial position of Nordic Investment Bank as of 30 June 2025 and the related statement of comprehensive income, statement of changes in equity and cash flow statements for the six-month period then ended, and a summary of significant accounting policies and other explanatory notes to the interim financial statement, which report appears in this Amendment No. 2 to the 31 December 2024 Annual Report on Form 18-K/A.

 

/s/ Jukka Paunonen				/s/ Peter Sott
Jukka Paunonen				Peter Sott
Authorized Public Accountant				Authorized Public Accountant
PricewaterhouseCoopers Oy (KHT)				Öhrlings PricewaterhouseCoopers AB
Itämerentori 2				Torsgatan 21
FI-00101 Helsinki, Finland				SE-113 97 Stockholm, Sweden

14 August 2025