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Corporate Social Responsibility National public policies in the ...

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CORPORATE SOCIAL RESPONSIBILITY - <strong>National</strong> <strong>public</strong> <strong>policies</strong> <strong>in</strong> <strong>the</strong> European Union<br />

Development <strong>policies</strong><br />

The Belgian Investment Company for Develop<strong>in</strong>g<br />

Countries (BIO) was set up <strong>in</strong> December 2001 with <strong>the</strong><br />

aim of <strong>in</strong>vest<strong>in</strong>g <strong>in</strong> SMEs and micro-firms <strong>in</strong> develop<strong>in</strong>g<br />

countries. It was set up as a <strong>public</strong>-private sector<br />

cooperation <strong>in</strong>itiative between <strong>the</strong> Belgian state and<br />

<strong>the</strong> Belgian Investment Company, each of which<br />

holds 50% of <strong>the</strong> capital. The Belgian state has made<br />

a contribution of €97.5 million <strong>in</strong> addition to <strong>the</strong> capital.<br />

The law of November 2001, under which BIO<br />

was created, stipulates that direct or <strong>in</strong>direct subsidies<br />

must lead to susta<strong>in</strong>able employment opportunities<br />

which respect basic social rights such as those<br />

set out <strong>in</strong> <strong>the</strong> basic conventions of <strong>the</strong> International<br />

Trade Organisation (ITO). Fur<strong>the</strong>rmore, BIO must<br />

adopt a policy of rais<strong>in</strong>g awareness of equality<br />

between men and women <strong>in</strong> order to achieve equal<br />

distribution of credit, both direct and <strong>in</strong>direct. Equal<br />

distribution applies to both <strong>the</strong> number of credit<br />

loans and <strong>the</strong> amount of capital released. BIO must<br />

respect <strong>the</strong> criteria determ<strong>in</strong>ed by <strong>the</strong> Development<br />

Assistance Committee of <strong>the</strong> OECD, and aims to<br />

become a socially responsible <strong>in</strong>vestor. At <strong>the</strong> end of<br />

September 200, it approved a set of operational<br />

guidel<strong>in</strong>es stipulat<strong>in</strong>g <strong>the</strong> social and ecological criteria<br />

that must be met by companies look<strong>in</strong>g for <strong>in</strong>vestment.<br />

See http://www.b-i-o.be<br />

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