Our geographical scope
BIO invests in Least Developed Countries, Low Income Countries, and Lower-middle Income Countries (i.e. the OECD's DAC-list). BIO can also invest in upper middle-income countries and pays particular attention to the partner countries of the Belgian Development Cooperation and to less developed countries.
BIO operates, directly and indirectly, in 52 countries.
Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam
Latin America & Caribean
Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru
Middle East & North Africa
Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Palestinian Territories, Syria, Tunisia
Sub Saharan Africa
Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Dem. Rep. Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia
Geographical spread (31.12.2019)
Some countries, like offshore Financial Centers, are clearly off limits and BIO is not allowed to invest in them, either directly or indirectly. These countries are defined by Royal Decree and by the "Global Forum on Transparency and Exchange of Information for Tax Purposes" (the “Global Forum”).