BIO wishes to rectify certain erroneous information published in the press on its subject. BIO supports SMEs in developing countries, in numerous sectors which create jobs and value added locally. Since it was set up, BIO has supported, directly and via intermediary structures, hundreds of thousands of end beneficiaries in developing countries. The projects supported by BIO have considerable positive effects on the development of the local economic fabric in poor countries and contribute to improving the living conditions of the local population.

BIO’s first investment in Mozambique

BIO has granted a USD 15m senior loan to Banco Comercial e de Investimentos (BCI), a commercial bank in Mozambique. The loan has been extended in local currency through a swap with TCX , and will be used by BCI for on-lending to SMEs. This is the first sizeable local currency transaction by a foreign lender, and also BIO’s first investment in Mozambique (a partner country of the Belgian Development Cooperation).

Reduction of gas emissions and improvement of the population’s living standards

BIO signed a credit facility agreement worth EUR 1,37 million with Thai Biogas Energy Co Ltd (TBEC), to finance the first ever biogas installation in Lao. Wastewater from Lao Indochina Group Co Ltd (LIG), a starch manufacturer processing cassava roots bought mainly from smallholders, will be transformed into gas and replace the coal used so far by clean and cheap energy. As a result, LIG will continue to play its critical role as processor for the country’s smallholder community while reducing greenhouse gas emissions. The project will also contribute to the elimination of bad smell by expanding the wastewater treatment tanks, and enable the production of natural fertilizer from the remaining sludge. This innovative project will improve the living conditions of the population and increase the income of the smallholders and the factory staff.