IFC partners with Switzerland, UK to improve
corporate governance in Central Asia
The Times of Central Asia
July 13, 2013
DUSHANBE (TCA) — The International Finance Corporation (IFC) and the United Kingdom’s Department for International Development are launching the IFC Central Asia Corporate Governance Project II in Tajikistan and Kyrgyzstan, the press service of the IFC said.
Over the next two years (2013-2015), IFC will continue to assist companies to improve their corporate governance practices through in-depth corporate governance assessments, with a focus on financial institutions and family-owned as well small and medium enterprises. [EXPAND Read more]
IFC will also build the capacity of local intermediaries including consulting firms and non-governmental organizations, all of whom will continue to help local companies and banks improve corporate governance.
The new project in Tajikistan began with a two-days training for trainers in Dushanbe for consulting firms and non-governmental organizations in the Tajikistan, and aimed at equipping participants with knowledge and skills necessary to train the members of board of directors and managers on corporate governance issues. It was followed by a two days in-depth training for members of boards to directors and managers of local companies to incorporate best international corporate governance practices into their companies’ operations.
Good corporate governance helps companies and markets attract investors, reduce their cost of capital, improve company performance, and better weather financial crises. It also will help create an environment supportive of investment, entrepreneurship and innovation, support economic diversification, and ultimately raise the living standards of people in both countries, the IFC Project Manager Sergii Tryputen said. [/EXPAND]