Dushanbe, Tajikistan, May 17, 2012—IFC,
a member of the World Bank Group, is advising Central Asian companies and
banks on improvements to their corporate governance systems, strengthening
their operations and making it easier for them to access financing.
IFC is organizing a corporate governance
program to help boards of directors and managers incorporate best international
corporate governance practices into their operations. This week’s two-day,
in-depth training workshop is bringing together up to 40 representatives
from Kazakhstan, Kyrgyz Republic and Tajikistan to discuss and share experience
on building effective boards of directors in their companies.
As part of IFC’s strategy to build
local capacity, the workshop also trains several consulting firms and non-governmental
organizations, including associations of banks of the Kyrgyz Republic and
Tajikistan, all of whom will continue to help local companies and banks
improve corporate governance.
“This workshop is extremely important
since it is targeting not only banks and the biggest microfinance organizations,
but also the Interbank Training Center, which will provide professional
education on corporate governance to financial institutions and corporations
in Tajikistan,” said Valeriy Kim, Deputy Chairman of the Association of
Banks of Tajikistan.
Sergii Tryputen, IFC Project Manager,
said, "A competent board of directors is one of the key elements of
a good corporate governance system. The priorities for companies should
be ensuring transparency and making their boards of directors more professional.”
In addition to advising companies and
banks on improvements to their corporate governance, IFC will work to enhance
the capacity of local organizations to continue promoting corporate governance
improvements in their countries.
IFC’s Central Asia Corporate Governance
Project is implemented in partnership with the United Kingdom’s Department
for International Development. The project helps local joint stock companies
and banks strengthen their corporate governance practices to increase their
ability to attract financing and manage risks.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org