BIO co-hosts seminar for businesses in Belgium. On Tuesday, 29 May 2012, BIO, FEB (Federation of Enterprises in Belgium), FINEXPO (Inter-ministerial export finance support committee), ONDD (Belgian Export Credit Agency), IFC (International Finance Corporation) and BMI-SBI (Belgian Corporation for International Investment) co-hosted a seminar at the Egmont Palace in Brussels on the theme “Financing and Securing your Growth in Emerging Markets”, with the support of the Ministry of Foreign Affairs. The aim of the event was to inform businesses in Belgium about the different financing instruments that are available to support their development in emerging economies, where there is a strong growth and potential.
Développement international Desjardins (DID) and the Belgian Investment Company for Developing Countries (BIO) have signed a strategic agreement aimed at helping develop small enterprises in Central and East Africa. The agreement is specifically designed for investment in the entrepreneur financial centers (EFC) set up in that region by DID. The EFCs are specialized financial institutions that provide small entrepreneurs with the financial products and services they need to develop business and fulfill their role in stimulating economic growth and job creation.
First equity transaction for BIO’s Enterprises Department
BIO has become a shareholder in Reltex Tarpaulins (Africa) EPZ ltd., Kenya, in March of this year. This is the first equity deal for the Enterprises Department, which previously granted only long-term debt financing to its clients.
On 22 March 2012, a delegation lead by H.R.H. Prince Philip was welcomed by Grand Place’s founder and President, Gricha Safarian. At this occasion, a Memorandum of Understanding was signed with Puratos Group, confirming both parties’ intention to join forces in Vietnam. Under this agreement, approximately USD 10 million will be invested to expand the current chocolate capacity and the collection, fermentation and processing station for single origin cocoa beans in Vietnam.
LocFund is an Investment Fund providing financing in local currency to microfinance institutions in Latin America and the Caribbean. Widely focused on institutions with limited access to funding and less opportunities to optimize their financing structure, LocFund provides local currency financing reducing local currency devaluation risks.
BIO is confident that its operations have a significant positive impact on the development of the local economy in underprivileged countries and on the improvement of living conditions of the local populations.