Business Development Support Fund
The Business Development Support Fund continues to be a valuable tool for BIO, supporting current and prospective portfolio companies in their journey towards improved business performance and sustainable development practices. Through grants and co-financing of technical assistance (TA), feasibility studies (FS), and investment support, the BDSF empowers SMEs.
On the one hand, the BDSF allocates funds to fund managers, who then provide technical assistance to their clients. On the other, the fund grants subsidies directly to companies, with a particular focus on projects that promote environmental and social well-being and adherence to international standards. While these grants often target social and environmental issues, the BDSF's versatility extends to more operational improvements, such as enhancing HR practices.
2023 proved to be a successful year for the fund, with 16 new projects approved with a total allocation of EUR 1.15 million. The team proactively sought new opportunities by collaborating with the investment department and directly connecting with clients to understand their specific needs and how the BDSF could be of assistance. Notably, repeat clients often reach out to the BDSF independently, a testament to the program's effectiveness.
E&S Workshop in Abidjan
The BDSF team co-hosted a workshop on social and environmental performance in the microfinance sector with consultants from Cerise+SPTF in February 2024. Held at BIO's Abidjan office, the event brought together 24 participants from 16 institutions across 9 countries, fostering dynamic discussions on crucial topics like customer protection standards, responsible lending practices, transparency, and fair treatment of clients.
The BDSF also has ambitious plans for 2024. With a projected 15 new projects valued at EUR 1.2 million, the program remains dedicated to supporting innovation and sustainable growth. Furthermore, the upcoming external case study evaluation will focus on "non-financial additionality" – the positive, non-monetary impact created by BDSF investments, extending beyond just financial gains. This emphasis underscores BIO's commitment to fostering holistic development and creating lasting positive change.
Finally, in April 2024, the BDSF attended the annual EDFI TA officers meeting in Geneva and dedicated resources to developing a framework for BDSF evaluation and impact communication. These initiatives will further strengthen the program's effectiveness and transparency.
BDSF projects signed in 2023
