Skopje, FYR Macedonia, October 30, 2012—IFC,
a member of the World Bank Group, and the European Confederation of Directors'
Associations (ecoDa) are working together to support the capacity-building
of national director training organizations across Eastern Europe.
Under a new agreement,
the two organizations will start by working with the Macedonian Institute
of Directors, an ecoDa member since July which IFC has supported since
2009. IFC and ecoDa will help the institute to further develop its services
to companies and their directors, promoting principles of good corporate
governance. That will help improve the performance of businesses and strengthen
their ability to attract investment and grow.
"This partnership with IFC will allow
us to promote good corporate governance in Macedonia and the wider region,”
said Patrick Zurstrassen, Chairman of ecoDa. “We are convinced that this
will help business to proceed faster on the path to good governance.”
Oliver Orton, IFC’s Regional Program Manager
for Corporate Governance in Europe and Central Asia, said, "Strong
corporate governance standards are vital to the success of an economy.
By building the capacity of national institutes, we are assisting companies
to improve competitiveness, create jobs,
and drive economic development."
Between October 29 and November 1, a Board
Leadership Training-of-Trainers program will be organized in Skopje for
15 partner institutions from 10 countries to help them provide director
training services on a sustainable basis.
The initiative is part of IFC’s Corporate
Governance Program in Europe and Central Asia, which, with support from
IFC’s Global Corporate Governance Forum, provides advisory services to
help promote good corporate governance practices in the region. The program
provides advice to companies on implementing best corporate governance
practices. It also seeks to develop the capacity of institutions in delivering
corporate governance services in Albania, Armenia, Azerbaijan, Bosnia and
Herzegovina, Georgia, Kazakhstan, Kosovo, FYR Macedonia, Moldova, and Serbia.
IFC’s Corporate Governance Program in Europe
and Central Asia is supported principally by the Swiss State Secretariat
for Economic Affairs (SECO) with further support from the Development Bank
of Austria (OeEB).
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, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,
The European Confederation of Directors’
Associations is a not-for-profit association based in Brussels, Belgium,
acting since March 2005 as the "European voice of directors".
Through its national institutes of directors, ecoDa represents around 55,000
directors from across the European Union member states. ecoDa's mission
is to promote good corporate governance and improve the effectiveness of
boards of directors and supervisory boards. It does this through director
training, professional development,
and by supporting boardroom best practices. For more information, visit
For more information about SECO, please
For more information about OeEB, please