Manila, Philippines, February 9, 2012—IFC,
a member of the World Bank Group, is working with Philippine small and
medium enterprises to incorporate integrity practices into their operations,
which could increase their access to financing, expand market share, and
A two-day workshop opens today at the
World Bank offices in Ortigas Center, Pasig City, to equip small enterprises
with the ability to deal with corruption, misconduct, and other ethical
issues in business. Integrating integrity policies and practices into their
business allows them to meet borrowing requirements, qualify to do business
with larger organizations and be part of global supply chains.
During the workshop, IFC’s corporate
governance, sustainability, and SME experts will share ideas and international
best practices based on IFC’s SME Toolkit. The event also includes a dialogue
with Philippine government officials tomorrow, February 10.
World Bank surveys in 29 countries indicate
that small enterprises are more adversely affected by corruption than big
ones, and that the majority of SMEs consider corruption a constraint to
“There is strong evidence that good
integrity performance can help small and medium enterprises save costs,
access financial markets, and become accredited suppliers to large international
buyers,” said Jesse Ang, IFC’s Resident Representative in the Philippines.
“This is part of IFC’s initiatives in promoting good governance both
in the private and public sectors to increase business competitiveness.”
IFC in the Philippines has been working
with business groups to raise integrity standards in order to attract new
investments for the private sector. The workshop is part of a series on
business integrity which IFC is organizing in Kenya, Lebanon, Serbia and
Colombia to help SMEs achieve long-term and sustainable growth .
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