News

  • BIO invests in the Indian MFI Annapurna

  • 24.03.2014
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    On March 21st 2014, BIO signed an equity investment agreement with Annapurna Microfinance Private Limited (AMPL), an MFI working with women entrepreneurs in 2 of the poorest states in India. AMPL saw the light as a microfinance initiative of a local NGO, People’s Forum, in the early nineties to provide microloans to women in mainly rural areas. Access to finance in rural areas in India is very limited and AMPL focusses on areas that are difficult to reach and are largely overseen by the commercial financial services.

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  • BIO’s first investment in Paraguay

  • 21.03.2014
  • In March 2014, BIO signed a senior loan agreement for USD 4 million with the Paraguayan bank Banco para la Produccion y Comercializacion (Bancop). The bank was incorporated in January 2012 and is the first cooperatively owned bank in Paraguay. The shareholders of Bancop are in fact the most important productive cooperatives in the country dedicated mainly to agricultural and livestock activities. They joined efforts to create a new bank with the objective of providing local producers an alternative for having access to financial products and services. BIO is lending USD 4 million to Bancop to further grow its SME loan portfolio and increase its capacity to provide financing to rural smallholders. The loan will, among others, allow Bancop to provide increased funding to SMEs in rural and unbanked areas, which in turn will support the creation of employment and livelihood opportunities for a broader portion of the population.

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  • Law modifying the BIO law published

  • 21.02.2014
  • The law modifying the BIO law of 3 November 2001, voted in December 2013, was published in the “Moniteur belge” mid February 2014. The consolidated law with the integrated amendments can be downloaded here (French).

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  • Banco Popular, BancoSol and Banco Nacional de Bolivia nominated for IADB’s Beyond Banking Awards

  • 20.02.2014
  • For the 2014 Beyond Banking awards the microfinance institutions Banco Popular in Honduras and BancoSol in Bolivia, and the commercial bank Banco Nacional de Bolivia have been nominated. All three financial institutions have been supported by BIO over the last years. The BeyondBanking awards are an initiative of the Inter-American Development Bank’s financial markets division, which contributes to the creation of solid, sustainable and responsible financial systems in Latin America and the Caribbean by combining capabilities and experience with tradition and innovation. The awards are aimed at promoting social sustainability, environmental and good governance practices between financial intermediaries in Latin America.

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  • BIO disburses USD 5,4 million loan to NVTS in Mongolia

  • 07.01.2014
  • In December 2013, BIO disbursed a USD 5,4 million loan to the leading egg and poultry business, NVTS in Mongolia. NVTS produces chicken meat and eggs for local consumption, a product that has risen strongly in view of soaring beef and mutton prices in Mongolia. Local production has been very limited and most eggs are traditionally imported from Russia. NVTS is responding to the growing demand for poultry and eggs and reducing Mongolia’s dependence on import by expanding its capacity strongly to ultimately 1 million laying hens with a production capacity of 210 million eggs per year. BIO’s investment supports the expansion project, as local long-term funding is hard to obtain.

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  • Senegalese SCL expands thanks to BIO’s € 4 million loan

  • 12.12.2013
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    Last 29th November, BIO disbursed € 3 million of a € 4 million senior loan to Société des Cultures Legumières in Senegal to finance their expansion project. SCL produces, packages, and exports fresh vegetables to the UK during the winter season in Europe, when traditional producing countries such as Morocco, Spain, Israel and Egypt cannot fill the supply needs. SCL is now developing into a 12 month business, targeting the local market as well, and increasing its value chain with the final packaging of certain vegetables.

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  • BIO welcomes new law

  • 06.12.2013
  • On December 5th 2013, the Belgian Chamber of Representatives approved a new law modifying the Law of 2001 addressing the constitution of BIO, Belgian Investment Company for Developing Countries. BIO is delighted with this new law, which turns BIO into the reference on local private sector financing within development cooperation. Developing a strong private sector is an important pillar for global, significant and sustainable improvements in the livelihoods of local households. The new law recognizes that BIO, a development finance institute, is the instrument to support the private sector in developing countries. The reform forms an integral part of a modernization process of the Belgian development cooperation.

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  • BIO collaborates with King Baudouin Foundation

  • 04.11.2013
  • Prize for Corporate Governance 2013-2014

    BIO is proud to announce its collaboration with the King Baudouin Foundation for the Prize for Corporate Governance 2013-2014 for an entrepreneur in DR Congo. The Prize, which concedes a financial support of € 25,000, is awarded every two years to a woman or a man, who manages her or his company in an exceptional way. With this Prize, the founders of the Corporate Governance Fund wish to project a positive image of a particular company in the DR Congo that contributes to the economic development of the country for the benefit of the local population.

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  • Grand-Place Vietnam wins International Cocoa Award

  • 31.10.2013
  • This October 30, 2013 Grand Place Vietnam received an Excellence Award at the “Salon du Chocolat” in Paris, for the best cocoa in the Asia-Pacific region. The “Salon du Chocolat” is a worldwide reference for quality producers of cocoa beans and chocolate. Cocoa of Excellence is the entry point for farmers to participate in the Salon du Chocolat's International Cocoa Awards, the only competition of its kind rewarding the work of cocoa farmers and celebrating the diversity of cocoa flavors.

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