BIO can invest in countries classified by the OECD as “Least Developed Countries”, “Low Income Countries” and “Lower-middle Income Countries”, also known as the DAC-list, and puts a specific focus on the partner countries of the Belgian Development Cooperation and on less developed countries. Since the beginning of 2014, BIO can also invest in the upper middle-income countries.

Today BIO concentrates its operations directly and indirectly in 52 countries. 

Africa is the largest beneficiary of BIO’s funding operations and accounts for 34% of the total portfolio, followed by Asia and Latin America. BIO also contributes to multiregional projects.