|
Cairo, Egypt, October 25,
2012—
IFC, a member of the World Bank Group, held a regional workshop to support the development of mediation services in the Middle East and North Africa, helping private sector companies resolve disputes quickly and easily.
The event was part of IFC’s efforts to support mediation across the region, where commercial court cases are often expensive and take a long time to resolve. The event, held in Cairo, brought together staff from mediation centers in Egypt, Lebanon, Morocco, and Pakistan. Its aim was to create regional standards for mediators, such as accreditation and a code of conduct.
“Businesses in the region are often hindered by long and costly court procedures,” said Milo Stevanovich, Manager of IFC’s Commercial Justice Project in the Middle East and North Africa. “Mediation can help them resolve disputes quickly and easily, allowing them to devote more resources to growing and creating jobs.”
Enforcing a contract across the region takes an average of 652 days and 44 different procedures, costing up to quarter of the claim. Mediation helps companies avoid full-scale court procedures and dramatically reduces the time and cost of resolving disputes.
The Cairo workshop is the second in a series of regional events featuring IFC mediation partners. It was conducted by the Center for Effective Dispute Resolution, one of the world’s leading mediation centers. The initiative is part of the IFC Regional Alternative Dispute Resolution Program, funded by Switzerland’s State Secretariat for Economic Affairs.
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
.
Stay Connected
|
