BIO can invest in countries classified by the OECD as “Least Developed Countries”, “Low Income Countries” and “Lower-middle Income Countries”, also known as the DAC-list, and puts a specific focus on the partner countries of the Belgian Development Cooperation and on less developed countries. Since the beginning of 2014, BIO can also invest in the upper middle-income countries.

Today BIO concentrates its operations directly and indirectly in 52 countries. 

Africa is the largest beneficiary of BIO’s funding operations and accounts for 34% of the total portfolio, followed by Asia and Latin America. BIO also contributes to multiregional projects.

ContinentsInvestment concentration countries
AfricaSenegal, Mali, Ivory Coast, Ghana, Guinea, Burkina Faso, Niger, Togo, Benin, Nigeria, Democratic Republic of Congo, Burundi, Rwanda, Cameroon, Angola, Uganda, Tanzania, Kenya, Ethiopia, Zambia, Malawi, Mozambique, Zimbabwe, Madagascar, Morocco, Tunisia, Algeria, South Africa
Latin AmericaBolivia, Ecuador, Peru, Paraguay, Colombia, Nicaragua, Honduras, Haiti, Dominican Republic, El Salvador, Guatemala, Brazil
Mekong/South-East AsiaVietnam, Laos, Cambodia, Myanmar, Indonesia, India, Bangladesh, Sri Lanka, Nepal, Philippines, Mongolia
BIO’s approach regarding the use of offshore financial centers

Download BIO's policy with regards to certain jurisdictions.

  • BIO Policy regarding certain jurisdictions (204.56 KB) Download