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IFC Conducts First Media Conference to Improve News Reporting on Corporate Governace

Jakarta, Indonesia, May 21, 2013 —IFC, a member of the World Bank Group, in cooperation with Indonesia’s official ANTARA News agency, conducted the first corporate governance media conference to help raise the standard of press reporting on governance issues.
Editors and senior journalists from about 50 media outlets attended the conference and discussed how the media can help amplify public demand for good corporate governance and sustainable development.
“It is important for the press to understand corporate governance issues in order to better cover business stories that are of public interest,” said Abdullah Alamudi, senior instructor from Dr. Soetomo Press Institute and former chair of the Public Complaint Commission of the Press Council. “IFC is doing a great job trying to raise awareness on corporate governance issues and providing training to journalists to help them understand the concepts better."
Other prominent speakers at the conference included Ade Armando, lecturer from the University of Indonesia, Metta Dharmasaputra, former managing editor of Indonesia’s leading magazine Tempo and a prominent investigative journalist, and Putu Anggreni, chief editor of Global Investor Magazine , a trade publication covering the asset management industry.
IFC has been working with educational and training institutions as well as media outlets to help journalists improve their reporting on corporate governance issues. In East Asia and the Pacific, IFC has trained about 70 journalists.
“Good corporate governance will create a more sustainable business environment and foster economic development,” said Sarvesh Suri, IFC’s country manager for Indonesia. “Journalists that understand and value corporate governance will not only produce good business reports, but will also earn respect from their peers and the companies they cover.”
IFC has contributed to the development of 48 corporate governance codes in 32 countries and its training resources on board leadership have been used to train about 700 corporate governance master trainers in 46 countries. In Indonesia, IFC set up a corporate governance program in June 2012 and has since conducted 10 corporate governance seminars and conferences, including a women leaders’ forum, training sessions for family businesses, and workshops at several Indonesian universities. IFC also produces an annual corporate governance scorecard for large Vietnamese listed companies and has partnered with China’s Shenzhen Stock Exchange to enhance corporate board performance.
About IFC
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, visit www.ifc.org .
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