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Government Pension Fund Global: Twenty-fifth anniversary

On Monday, 31 May, Norges Bank and the Ministry of Finance 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.

26 May 2021

On 30 May 1996, Sigbjørn Johnsen, the Minister of Finance at the time, made the first transfer of almost 2 billion kroner to the “Government Petroleum Fund”. Twenty-five years later, the Norwegian oil fund has grown to more than 11 000 billion kroner. 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”, the newspaper journalist 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, and The webinar will be  available for later viewing.

Media and other websites with web TV may host the webinar on their websites. A publishing point will be established by our provider NEP Broadcast Services. Please contact to request an agreement on the use of a publishing point.

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.



See the webcast