HELSINKI - PRIME ministers from the five Nordic countries will hold an extraordinary meeting on Monday on the global financial crisis at a three-day summit in Helsinki.

Leaders from Denmark, Sweden, Norway, Finland and Iceland will meet at the annual Nordic Council summit to discuss measures to tackle the crisis at the request of Iceland's prime minister.

Iceland has seen its banking system collapse in recent weeks.

Earlier this month three of the country's banks were nationalised and the government of Geir Haarde has turned to international bodies to help it overcome the crippling crisis, which has also caused the Icelandic krona to plummet.

On Friday, it became the first Western country since Britain in 1976 to approach the International Monetary Fund for aid, agreeing a loan of US$2.1 billion (S$3.2 billion).

Mr Paul Thomsen, the head of the IMF mission in Iceland, said the country would also get a further four billion US dollars from other countries as part of a package spread over two years.

Media reports have suggested that the Nordic countries might contribute and last week an Icelandic delegation held inconclusive talks with Russian officials in Moscow.

Ministers at the summit in Helsinki will discuss the environment, climate change and health.

The Nordic Council was set up in 1952 to ensure co-operation on legislation between its member states. -- AFP