Historical archive

Government Pension Fund Global: Twenty-fifth anniversary

Historical archive

Published under: Solberg's Government

Publisher Ministry of Finance

On Monday, 31 May, the Ministry of Finance and Norges Bank will be hosting a webinar to mark the 25th anniversary of the first transfer to the Government Pension Fund Global. The webinar will be livestreamed and is open to the general public.

On 30 May 1996, Sigbjørn Johnsen, the Minister of Finance at the time, made the first transfer of almost NOK 2 billion to the "Government Petroleum Fund". Twenty-five years later, the Government Pension Fund Global has grown to more than NOK 11 000 billion. On 31 May, you will meet some of the key players during these 25 years. What dilemmas have they faced, how were crucial decisions taken, and what has it meant for the development of the Norwegian society in the 21st century?

Listen to Sigbjørn Johnsen and Jan Tore Sanner discuss with Knut Kjær the challenges facing a minister of finance in 1996 and in 2021. Kristin Halvorsen and Siv Jensen will be interviewed by Yngve Slyngstad about political support for the management of the fund.

Jens StoltenbergArne SkaugeØystein Olsen and Svein Gjedrem  will talk with Einar Lie about the establishment of the fund and the fiscal rule and what they have meant for the Norwegian economy.

Ola SvennebySondre Hansmark and Astrid Hoem will discuss challenges for the management of the fund and the framework ahead in a conversation with Anne Rokkan, and Nicolai Tangen will share his thoughts about how the fund is managed today.

You will also meet VG's "oil fund boy", Thomas Kragerud, and hear his thoughts about the fund’s position in the minds of the Norwegian people.

About the webinar

The webinar can be watched live at nbim.no, norges-bank.no and regjeringen.no. The webinar may be downloaded for later viewing.

About the participants:

  • Jens Stoltenberg (Labour), Minister of Finance, 1996–97, Prime Minister, 2000–2001 and 2005–2013
  • Arne Skauge (Conservative), Minister of Finance, 1986, and 1989–1990
  • Sigbjørn Johnsen (Labour), Minister of Finance 1990–1996 and 2009–2013
  • Kristin Halvorsen (Socialist Left), Minister of Finance 2005–2009
  • Siv Jensen (Progress), Minister of Finance 2013–2020
  • Jan Tore Sanner (Conservative), Minister of Finance 2020–
  • Svein Gjedrem, Secretary General of the Ministry of Finance, 1995–1999, and 2011–2015, Governor of Norges Bank, 1999–2010
  • Øystein Olsen, Director General of the Ministry of Finance, 1999–2005, Governor of Norges Bank 2011–
  • Knut Kjær, CEO, Norges Bank Investment Management, 1998–2008
  • Yngve Slyngstad, CEO, Norges Bank Investment Management, 2009–2020
  • Nicolai Tangen, CEO, Norges Bank Investment Management, 2020–
  • Ola Svenneby, Leader, Norwegian Young Conservatives
  • Sondre Hansmark, Leader, Young Liberals of Norway
  • Astrid Hoem, Leader, Workers’ Youth League
  • Einar Lie, Professor of History, University of Oslo
  • Anne Rokkan, columnist, Bergens Tidene
  • Thomas Kragerud, VG’s «oil fund boy”
  • Therese Riiser Wålen, Head of Communications, Ministry of Finance

Press contacts:

  • Communications Advisor Bjørnar Angell, Ministry of Finance, tel. +47 952 00 350.
  • Media Relations Manager Bård Ove Molberg, Norges Bank, tel. +47 950 21 523.