IFC and Belgium
Partners in Private Sector Development




OVERVIEW

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in
emerging markets. Working in more than 100 countries, IFC committed a record $32.8 billion in own-account investments
and mobilization from third parties to private companies and financial institutions in developing countries in fiscal year
2022 (FY22).* IFC partners with multinationals and mid-sized firms that are interested in investing in emerging markets.
As of June 2022, IFC had a long-term committed investment portfolio of $160 million with Belgian partners spread
across several sectors and regions.




    IFC’s Long-Term Investment Portfolio with Belgian Sponsors
    As of FY22, IFC’s long-term investment portfolio with Belgian sponsors amounted to $160 million. Belgian private sector companies
    have benefited from co-investments with IFC, while making notable contributions to development.


           IFC Long-Term Investment Portfolio as of June 2022                   IFC Long-Term Investment Portfolio as of June 2022
             by Industry with Belgian Sponsors ($160 million)                     by Region with Belgian Sponsors ($160 million)




                                                                           •	   Mobilization: IFC has a strong relationship with Belgian
                 IFC Long-Term Investment Portfolio                             financial institutions (FIs) and an active engagement across
              as of June 2022 (Dollar Amounts in Millions)                      multiple sectors. As of June 2022, Belgian FIs held close to
                                                                                $38 million in IFC Syndicated Loans.

                                                                           •	   Global Trade Finance Program (GTFP): As of June 2022,
                                                                                IFC issued over 1430 guarantees amounting to $1.2 billion
                                                                                for Belgian banks since the GTFP began in 2005. The most
                                                                                active confirming bank has been KBC.



*The World Bank Group fiscal year runs from July 1 to June 30 of the following calendar year.
PARTNERSHIP WITH THE GOVERNMENT AND DEVELOPMENT FINANCE

INSTITUTION

IFC maintains strong relations with BIO, the Belgian development finance
institution (DFI). The two institutions have common development goals and
objectives and play a complementary role in emerging economies. Since August
2010, BIO has been a signatory of IFC’s Master Cooperation Agreement,
which streamlines lending procedures for joint investments to ease financing
to private companies in emerging markets.




   Examples of Successful Cooperation


                              WDP, Romania
                              In March 2020, IFC committed a green financing package of approximately €205 million to WDP
                              (Warehouses De Pauw NV), a Belgian real-estate investment trust that develops, owns, acquires and
                              manages high quality logistics, warehouses and semi-industrial property, to support the construction
                              of around one million square meters of resource-efficient semi-industrial and logistics properties
                              across Romania. This is IFC’s first green loan in the property sector in Europe and Central Asia. IFC’s
                              investment will facilitate growth of the e-commerce, warehousing, and distribution sectors, the
                              business process outsourcing market, as well as the automotive and retail industries in Romania. The
                              investment will increase competitiveness and productivity, and support the country’s construction
                              industry. In addition, under the loan conditions, WDP implemented IFC’s EDGE green-buildings
                              certification across its portfolio in the country, resulting in at least 20% energy and water savings
                              in the buildings and in the production of building materials, as well as reduction in utility costs.



                              Incofin, Kazakhstan
                              In November 2019, IFC committed a straight senior loan of up to $4 million in local currency to
                              Arnur Credit, Kazakhstan’s third-largest microfinance institution and a leading player on the Kazakh
                              microfinance market, which is partially owned by Incofin, a Belgian investment manager working
                              in emerging countries. The loan is intended for on-lending to micro, small and medium enterprises
                              (MSMEs) in Kazakhstan with a focus on agriculture and women borrowers. IFC’s investment contributes
                              to the MSME sector competitiveness by increasing access to microfinance for local MSMEs, specifically
                              in underserved rural areas of Kazakhstan. In addition, the project creates a demonstration effect,
                              encouraging private investment in these areas and promoting inclusiveness in the microfinance market.




CONTACT                     BRUSSELS
Andrea Engel                17, Avenue Marnix
Principal Country Officer   2nd Floor
For Belgium                 1000 Brussels, Belgium
T: +32 2 522 00 39          Tel: +32 2 522 00 39
E-mail: aengel@ifc.org




September 2022