• Evaluation of 5 investments of BIO in East Africa

  • 01.08.2016
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    BIO is the Belgian Investment Company for Developing Countries. In the framework of its agreement with the Belgian Government, it is mandated to conduct an annual evaluation of a sample of its investments.For 2015, BIO selected 5 investments in the financial sector in East-Africa, which comprise a sample of indirect investments in micro, small and medium-sized companies (MSMEs):3 financial institutions, namely Bank of Africa Tanzania, and AccessBank Tanzania focusing on MSMEs in Tanzania, and EFC Uganda, a microfinance institution targeting micro and small enterprises in Uganda. 2 funds, namely Grofin East Africa Fund and Catalyst Fund I that invest in larger SMEs in the East African RegionFor more findings, find here the summary of the evaluation.

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  • FMO leads completion of largest syndicated loan in Sri Lanka

  • 25.02.2016
  • Final USD 44 million of total USD 153 million syndicated loan for Commercial Leasing & Finance (CLC) in Sri Lanka arranged.

    Today, the signing ceremony for the final tranche of a USD 153 million senior secured syndicated loan for Commercial Leasing & Finance (CLC) took place in Sri Lanka. The first amount of USD 109 million, signed by FMO on Friday 18 December, was followed by a second tranche of USD 44 million today. The total loan will have a tenor of 5 years. FMO provided the loan and acted as Mandated Lead Arranger and Facility Agent. In addition to the USD 39.2 million provided by FMO, participants include DEG (USD 20 million), OeEB (USD 10 million), OFID (USD 20 million), Finnfund (USD 11 million), Proparco (USD 10 million), BIO (USD 7 million), responsAbility Investments (USD 12 million), Blue Orchard (USD 10.1 million), Symbiotics (USD 9.0 million) and Oikocredit (USD 5 million). The ACTIAM FMO SME Finance Fund provided USD 5 million. Besides the syndicated loan transaction, FMO – in partnership with other lenders in the syndicate –will support CLC with a tailored technical assistance program to further professionalize CLC’s organization. The technical assistance includes capacity building in the area of asset and liability management, client protection principles and a management development program focused on leadership and skill training for employees. CLC’s current MSME portfolio represents over 65% of the total loan and lease portfolio. MSMEs are considered an important backbone for economic growth for the Sri Lankan economy, especially the ones active within the agricultural sector. FMO’s Chief Investment Officer, Linda Broekhuizen, emphasises the importance of the facility: “FMO is proud to act as Mandated Lead Arranger and Facility Agent of this USD 153 million facility. It is encouraging to see so much commitment to job creation and economic development, both among the other lenders and CLC. FMO is particularly proud to lead this facility for LOLC Group, with which we have a long lasting relationship for more than 20 years. LOLC Group’s work to strengthen small businesses and entrepreneurship in Sri Lanka is an important basis for sustainable economic development and lasting improvement of people’s living conditions in the country.” CLC’s CEO commented: We are pleased to be the recipient of this landmark syndication in partnership with 12 lenders, the largest syndicated loan that has ever been completed for a NBFI in Sri Lanka. This is a true testimonial to the strong ties fostered with these lenders, many of whom have a long-standing relationship with LOLC Group. As such, CLC is committed to building upon this strong foundation and fortifying our position as a preferred conduit for achieving development goals, with a focus on uplifting the SME sector of Sri Lanka.

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  • Conseil des Ministres approuve ouverture BIO aux investisseurs privés

  • 09.02.2016
  • Le gouvernement fédéral ouvre le capital de BIO aux investisseurs privés

    Le Conseil des ministres a marqué son accord aujourd’hui avec l’avant-projet de loi modifiant la loi du 3 novembre 2001 relative à la création de la Société belge d’Investissement pour les Pays en Développement (BIO). Ce projet vise à ouvrir BIO aux investisseurs privés pour que le secteur privé belge puisse lui aussi investir dans la constitution d’un tissu économique solide dans les pays partenaires de la Coopération belge au développement. La réforme s’intègre dans la stratégie du vice-Premier ministre et ministre de la Coopération au développement Alexander De Croo de mettre davantage l’accent sur une croissance économique inclusive et durable dans les pays partenaires de la Belgique, dans le cadre de sa politique de développement international. Il y a quelques jours, le ministre De Croo avait déjà réuni une quarantaine de chefs d’entreprises belges pour mettre en place un partenariat autour des objectifs de développement durable. Voir le communiqué de presse sur le site web du Ministre.

  • XSML announces first close of African Rivers Fund at USD 45 million

  • 04.02.2016
  • Today, XSML, the fund manager active in Central Africa, announced the first close of the African Rivers Fund at USD 45 million. The African Rivers Fund is XSML’s second fund under management, after its maiden fund the Central Africa SME Fund (CASF), bringing total assets under management to USD 65 million. The African Rivers Fund (ARF) targets growing, well-managed small and medium-sized enterprises (SMEs) in the Central African region covering Democratic Republic of Congo (DRC), Uganda and Republic of Congo as well as Burundi and Central African Republic (CAR). The fund is named after the two most powerful rivers in Africa, the Congo and Nile Rivers, which embody the potential of the Central African region. ARF follows the successful investment strategy of its predecessor, CASF, by providing debt, equity and mezzanine finance to fast-growing companies in the Central African region. All three current investors in CASF, IFC (a member of the World Bank Group), FMO (the Dutch development bank) and Lundin Foundation (Canadian foundation), are joined by BIO (Belgium Investment Company for Developing Countries), CDC Group (the UK development finance institution), Dutch Good Growth Fund (DGGF) and FISEA (AFD Group) - an expansion of the investor base of the African Rivers Fund, which demonstrates their commitment and support for investing in these frontier markets. 

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  • BIO’s first investment in Myanmar

  • 05.01.2016
  • BIO is extending a USD 12.2 million long-term senior loan to Irrawaddy Green Towers ltd (IGT) in Myanmar, for installing and operating mobile telecommunication towers. The total investment, arranged by the Dutch development finance institution FMO, amounts to 122m US-dollars. Other European development finance institutions such as CDC Group (Great Britain), PROPARCO (France), OeEB (Austria) and DEG (Germany) are further investors.

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  • FMO in the lead to support job creation in Sri Lanka

  • 21.12.2015
  • USD 109 million of total USD 153 million syndicated loan for Commercial Leasing & Finance (CLC) in Sri Lanka arranged

    On Friday 18 December, the Dutch development bank FMO has arranged the first tranche of a USD 153 million senior secured syndicated loan for Commercial Leasing & Finance (CLC) in Sri Lanka. The first amount of USD 109 million arranged today will be followed by an expected second tranche of USD 44 million in Q1 2016. The total loan will have a tenor of 5 years. FMO provided the loan and acted as Mandated Lead Arranger and Facility Agent. In addition to the USD 20 million provided by FMO, participants include OFID (USD 20 million), Finnfund (USD 11 million), Proparco (USD 10 million), BIO (USD 7 million), ResponsAbility (USD 12 million), Blue Orchard (USD 10.1 million), Symbiotics (USD 9.0 million) and Oikocredit (USD 5 million). ACTIAM provided USD 5 million via FMO’s fund structure.

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  • Video: Kivuwatt from hazardous gas to electricity

  • 18.12.2015
  • Right in the heart of Africa a prestigious and unique project was launched: Kivuwatt, a power station where otherwise hazardous methane gas trapped in the waters of Lake Kivu is removed and processed  for use as fuel to generate critically needed electricity. This short video explains how it works and what the impact is for local population and business. BIO is a proud investor in this groundbreaking initiative.Watch the video here.Read more on BIO's investment in Kivuwatt here.

  • Contributing to poverty reduction in Ecuador

  • 16.12.2015
  • BIO is investing 5 million USD in Banco D-Miro, a bank specialized in microfinance and focused on reducing poverty. Its operations started in 1977 as a microfinance program supported by a Norwegian NGO, with the aim to promote development in the most vulnerable areas of Ecuador. In 2011, the organization became a bank. Banco D-Miro offers financial services to micro, small and medium entrepreneurs in the peri- urban areas of the coast of Ecuador, where the poverty levels are higher and the penetration of financial services is the lowest.

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  • EDFI launches ElectriFI

  • 07.12.2015
  • Launching of an Electrification Financing Initiative, ElectriFI, by the European Commission and members of the European Development Finance Institutions – EDFI

    ElectriFI, an initiative of the European Union (EU) and EDFI, was launched at COP21 in Paris on 4 December 2015. ElectriFI will support renewable energy investments with a focus on rural electrification. Addressing the lack of access to clean, reliable and affordable electricity and energy services is a major development challenge and a key pillar of Climate Change policy. Cost-efficient access is central to inclusive and equitable economic growth in all sectors and a precondition for the poorest of the planet to be able to escape the worst impacts of poverty. Reaching the goal of global access through sustainable solutions is fundamental for mitigating the worst impacts of climate change, which most affect the poor.

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  • BIO supports tourism development in Mali

  • 01.12.2015
  • BIO is investing 4 million euro to fund the renovation of the Salam hotel and the building of a new hotel, both in Bamako, Mali. SGH SA is the Malian subsidiary of the Azalaï group of hotels. The completely African group is present in different countries in West-Africa, mainly in capital cities. They target local and international business people, with competitive pricing in relation to international hotel chains. The BIO investment of 4 million € is part of a syndicate of 16,4 million € together with the French Development Finance Institution, Proparco. Stimulating tourism contributes substantially to creating employment and generating revenues in the country. The policies of the SGH hotels are strongly driven by high social and environmental standards. Hotel staff, both from the group and external hotels, is trained at the Azalaï Academy. Having well trained staff benefits the tourism sector as a whole and allows for getting access to better wages. SGH focuses on employing women, especially in management functions. Salaries are more than double of the minimum wage standards in Mali and all personnel gets access to health insurance as well as health education. Wherever possible, SGH sources its products from local suppliers and farmers. The hotels have a waste management system in place that looks at reducing waste by recycling and treating waste water correctly.