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 can invest, directly and indirectly, in 62 countries.
East Asia & Pacific
Cambodia, Indonesia, Philippines, Vietnam
Europe & Central Asia
Ukraine
Latin America & Caribbean
Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Honduras, Nicaragua, Paraguay, Peru
Middle East & North Africa
Egypt, Morocco, Tunisia, Palestinian Territories
South Asia
Bangladesh, India, Nepal, Pakistan, Sri Lanka
Sub Saharan Africa
Angola, Benin, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Republic of Congo, Côte d’Ivoire, Djibouti, Eritrea, Ethiopia, Gambia, Guinea, Guinea-Bissau, Kenya, Lesotho, Madagascar, Malawi, Mali, Mauritania, Mozambique, Niger, Nigeria, Rwanda, São Tomé and Príncipe, Senegal, Sierra Leone, South Africa, South Sudan, Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe
Prohibited jurisdictions
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”).
