BIO and DEG join forces in infrastructure and enterprise projects, worth 120 million euros.
The Belgian and German development banks BIO (Belgian Investment Company for Developing Countries) and DEG (Deutsche Investitions- und Entwicklungsgesellschaft) have already been working together on the joint financing of infrastructure and enterprise projects for many years.
While in the past, this usually happened on an ad hoc
basis, both parties have now formally signed a cooperation agreement on
24th May 2019 to increase the volume and number of joint financings and
to improve the impact and efficiency of the development support provided
to the private sector in developing countries.
“DEG is delighted to see its partnership with BIO evolve even further. It matches our ambition to enhance our infrastructure and enterprise investments in developing countries.”
Dr. Peter Thimme, Director of Business Innovation and Syndication at DEG
To this end BIO has allocated an amount of 60 million Euros for joint financings over the next three years; DEG allocates a similar amount. DEG will take the lead in this joint venture and offer BIO the opportunity to share the risk in potential investment opportunities that meet BIO’s eligibility criteria. This agreement covers long-term debt financing for both private infrastructure projects and private enterprises.
“By cooperating in this manner, we can improve the impact and the efficiency of our support of private sector development in our target countries.”
Luuk Zonneveld, CEO of BIO
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).