Kyiv, Ukraine, October 24, 2008—IFC,
a member of the World Bank Group, has launched a project that could help
improve the business environment in Ukraine by encouraging mediation of
corporate disputes and providing a less-expensive alternative to litigation.
The Ukraine Corporate Governance Mediation
Pilot project, which is being implemented in cooperation with the Kyiv-Mohyla
Business School, will introduce corporate mediation to the country. The
project is designed to achieve cost and time savings for small, medium,
and other enterprises. Through IFC’s assistance KMBS has established the
Ukrainian Mediation Center (www.ukrmediation.com.ua),
which will combine training in mediation and negotiation skills with academic
research on effective dispute resolution, and provide services on mediation
of corporate disputes.
Under the project, leading international
consultants will conduct mediation-skills training programs to teach effective
dispute resolution. Trained mediators will then be deployed to resolve
corporate disputes as part of the Ukrainian Mediation Center’s work.
IFC and KMBS also will work to increase awareness
among Ukrainian businesses that mediation can be an efficient dispute resolution
method and complement the judicial system. The project is also developing
training courses on mediation and alternative dispute resolution that will
be introduced into the KMBS curriculum.
“Through the joint efforts of KMBS and IFC
we will create favorable conditions for companies to transform their conflicts
into opportunities," said Galyna Eromenko, KMBS’ representative and
the head of Ukrainian Mediation Center.
The Ukraine project is a part of IFC's ADR
Global Product Development Initiative. Supported
by the governments of Canada and the Netherlands, IFC helped introduce
mediation in Bosnia in 2004 by launching
the Alternative Dispute Resolution Program. The program has settled 350
cases in three years, freeing more than $13.5 million in blocked assets
that local businesses are now reinvesting.
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.
Kyiv-Mohyla Business School was established
in 1999 in one of the oldest universities of the Eastern Europe. In 2002
it was the first school in Ukraine to open an innovative five-module Executive
MBA program. In 2005, it introduced the Presidential MBA, a unique program
for business owners. For more information, visit www.kmbs.com.ua.