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.
Finnfund and BIO have invested in JTF Madagascar, an agricultural company owned by the Italian renewable energy company Tozzi Green.
On the 25th of November, Human Rights Watch published a report on Feronia / PHC, and the DFIs who invested therein. Here you can find a joint statement from CDC Group, BIO, DEG, and FMO in response to the HRW report.
FinDev Canada and BIO, the Belgian Investment Company for Developing Countries, today signed an agreement that will further collaboration to support the sustainable growth of the private sector in developing countries.