Bishkek, Kyrgyz Republic, September
29, 2011—IFC, a member of the World Bank Group, is training business
consultants in the Krygyz Republic and Tajikistan on ways to improve corporate
governance at the companies they advise, a project that will help firms
improve operations and make it easier for them to access financing.
Under a recently launched training series,
members of local consulting firms received training in IFC’s Corporate
Governance Methodology, a unique tool used around the world to help companies
and financial institutions evaluate corporate governance risks and opportunities.
The training took place in Dushanbe and Bishkek this week, focusing on
board effectiveness, management control functions, and disclosure practices.
Consultants are expected to apply those lessons to their work with clients,
helping firms expand, improve operations, and create jobs.
“This was an extremely valuable workshop,”
said Gulnara Uskenbaeva, head of the Association of Accountants and Auditors
in the Kyrgyz Republic. “It reinforced the importance of sound corporate
governance, which is critical for companies to grow and thrive. I will
definitely use IFC's methodology in the future.”
Sergii Tryputen, IFC Project Manager,
said: "Good corporate governance is the foundation for any successful
company. In the Kyrgyz Republic and Tajikistan, our aim is to build the
capacity of local consulting firms to help companies improve corporate
governance, which will open up new opportunities for financing. In turn,
that will help drive economic growth in both nations."
The training is part of IFC’s Central
Asia Corporate Governance Project, which 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
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