There are 17 bilateral development finance institutions, each with unique mandates, structures, and investment priorities, so determining who does what and where, can be a challenge. After analyzing the data, annual reports, and other information, Devex has created profiles of these institutions to shed some light on how DFIs work. More DFI profile and investment details are provided in our new tableau interactive.
Belgian Investment Company for Developing Countries (BIO)
Founded: 2001
Leader: Luuk Zonneveld, CEO
Investment types:
• Equity: Equity or quasi-equity stakes for new companies or companies wishing to expand activities or their financial base.
• Capacity building: Grants are provided to support feasibility studies and technical assistance programs.
• Guarantees: BIO facilitates the mobilization of resources from private sector actors by guaranteeing obligations on their behalf.
• Loans: Medium and long-term loans between 3-10 years are provided at fixed and variable rates.
Ownership: Wholly owned by the Belgian government.
2017 amount invested: $193.4 million
2017 largest project: $18 million for Montecristi Solar FV SAS to support construction and operation of a 58-megawatt photovoltaic solar plant in the Dominican Republic.
2017 total portfolio: $856.3 million
Summary: BIO’s mission supports private sector development in emerging markets within the framework of the 17 Sustainable Development Goals, with a specific focus on poverty; gender equality; energy; sustainable economic growth and employment; resilient infrastructure; sustainable industrialization; and innovation. Priority sectors for BIO are financial institutions, investment companies and funds, enterprises, and infrastructure projects with a focus on least developed countries, low-income countries, and lower-middle income countries.
About the authors
Lisa Cornishlisa_cornish
Lisa Cornish is a Devex Reporter based in Canberra, where she focuses on the Australian aid community. Lisa formerly worked with News Corp Australia as a data journalist for the national network and was published throughout Australia in major metropolitan and regional newspapers, including the Daily Telegraph in Melbourne, Herald Sun in Melbourne, Courier-Mail in Brisbane, and online through news.com.au. Lisa additionally consults with Australian government providing data analytics, reporting and visualization services. Lisa was awarded the 2014 Journalist of the Year by the New South Wales Institute of Surveyors.
Adva Saldinger@AdvaSal
Adva Saldinger is an Associate Editor at Devex, where she covers the intersection of business and international development, as well as U.S. foreign aid policy. From partnerships to trade and social entrepreneurship to impact investing, Adva explores the role the private sector and private capital play in development. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
