Annual Report 2018
BIO has published its annual report.
BIO’s mission sets it on a challenging quest for balance between this focus on profit and the commitment to a sustainable and inclusive society in least developed or emerging countries. It is a delicate mix that pervades all of BIO’s activities and constitutes its DNA. And, much like it is for a tightrope walker, or a cyclist for that matter, to keep your balance, you must keep moving.
- BIO decided on 22 new investments for a total of € 150 M.
- BIO monitored 83 outstanding loan investments. BIO employees also personally participated in boards and committees of its 52 equity investments.
- BIO’s Special Operations team intensively accompanied clients in trouble. They managed to reduce BIO’s total provisions for the company’s outstanding investments from 5,96 % (2017) to 5,02 % (2018).
- BIO granted 10 subsidies totalling € 850,000 to new capacity building and technical assistance projects.
- 15 loans were reimbursed and 6 equity investments were exited.
- BIO established a new facility for investing in small projects with a particularly high development impact but with high risks and relatively lower expected financial return.
- In 2018, investment capital grew thanks to a capital injection by the Belgian State of € 61 M, of which € 20 M was earmarked for investments to combat climate change. Furthermore, the substantial net gain of € 67.8 M of 2017 on an investment in a Cambodian MFI was converted into capital, bringing BIO’s means available for investment to € 937.7 M.
- BIO has a brand new logo. The colours signal we are Belgian. Its style refers to our affiliation with Belgium’s development cooperation.
Money is getting greener. The superlative in sustainable investing today is "impact investing". A growing global market that is already worth more than $700 billion.
Article originally appeared in MT Magazine in Dutch.
A group of international investors announce the successful first closing of the Incofin India Progress Fund (IPF) with USD 60 million of commitments. The fund will make private equity investments in the Indian agri food value chain and in financial inclusion for rural entrepreneurs in India. The committed capital comes from a diverse set of private and institutional investors including Korys, CDC, Proparco, the Belgian Investment Company for Developing Countries (BIO), the SDG Frontier Fund, the King Baudouin Foundation and several Belgian family offices.
The Belgian Investment Company for Developing Countries (BIO) agreed with SDB bank, a pioneering provider of financial services, to take up a 10% share of the bank, amounting to Rs. 925 million at Rs. 51.50 a share, via SDB bank’s Secondary Public Offering (SPO).