Small entrepreneurs in developing countries may expect a Belgian boost for their businesses. Beginning this year, the Belgian Investment Company for Developing Countries will be increasing its focus on micro, small and medium enterprises.
Belgium’s development bank, also referred to as BIO, has been tasked with investing in private sector projects in developing countries and emerging economies to support their socio-economic growth. Its investment strategy for 2015-2018 was presented last month to development cooperation minister Alexander de Croo, who expressed satisfaction with the clear strategic focus for the coming years, which also happened to hew closely to his liberal political credentials.
“If we want to promote the development and self-sufficiency of countries, they will need a well-developed private sector and a solid network of small and medium enterprises,” the development cooperation minister said.
About the author
Diederik Kramers@DiederikKramers
Diederik Kramers is a freelance correspondent in Brussels covering EU and NATO affairs. A former spokesperson and communications officer for UNICEF and UNHCR, he previously worked as foreign desk and Eastern Europe editor for the Dutch press agency ANP and as editor-in-chief of the Dutch quarterly Ukraine Magazine.
