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IFC Helps Promote Better Business Reporting on Corporate Governance in Middle East and North Africa


In Cairo:
Riham Mustafa
Phone: +202 24 619 140
Fax: +202 24 619 145
E-mail: RMustafa@ifc.org

Amira El Saeed
Phone: +202 24 619 140
Fax: +202 24 619 145
E-mail: aagag@ifc.org

Abu Dhabi, United Arab Emirates, March 18, 2009IFC, a member of the World Bank Group, announced today that it will work with the Abu Dhabi Center for Corporate Governance and Hawkamah Institute for Corporate Governance, to train journalists to more effectively cover business stories, particularly those involving corporate governance issues.  

IFC, the Institute, and Hawkamah will bring together a number of regional media professionals from countries in the Gulf Cooperation Council and Pakistan on March 18-19 in Abu Dhabi for a training workshop that will provide tools, background and story ideas for reporting on companies and stock exchanges. The workshop will be delivered by the Thomson Reuters Foundation.

The training session comes as the recent global financial crisis has highlighted the growing importance of corporate governance in ensuring that companies duly manage risks and that outside agents such as economic media have a key role to play in safeguarding the interests of shareholders and stakeholders.

“Programs that enhance journalists’ knowledge and reporting techniques concerning corporate governance, transparency and disclosure are vital to improving business practices because the media play an important role in raising public awareness," said Amira El Saeed, IFC Operations Officer.

Better corporate governance presents opportunities for managing risks, adding value to companies, and contributing more broadly to sustainable private sector investment in developing countries. IFC has previously organized a series of economic media workshops on corporate governance for Egyptian, Jordanian, Lebanese and Palestinian journalists.

About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit www.ifc.org.