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.
Belgian Corporation for International Investment (BMI-SBI)
Founded: 1971
Leader: Gert Van Melkebeke, CEO
Investment types:
• Equity: Direct equity or quasi-equity stakes for 5-10 years.
• Loans: Long-term loans between 5-10 years provided at fixed and variable rates.
Ownership: BMI-SBI is a limited company, with 66 percent of its capital held by the Belgian government through the Belgian Federal Holding and Investment Company and the National Bank of Belgium, and 34 percent held by banking institutions and other private companies.
2017 amount invested: $9.6 million
2017 largest project: $6 million for Manuchar Group, a Belgian-based commodities trading and logistics company, to enhance the storage facilities of two of its agri-food subsidiaries in Brazil and Vietnam.
2017 total portfolio: $44.4 million
Summary: BMI-SBI provides medium and long term co-financing to business ventures made by Belgian private companies abroad, supporting projects of general economic interest to Belgium and the host country, while respecting the principles of sustainable development and social corporate responsibility. BMI-SBI does not invest in startups, and instead focuses its investments in agriculture; biotechnology; chemicals and materials; communication; electronics; energy; environment; food; industrial automation; products and services; manufacturing; medical; nanotechnology; space; and transportation.