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IFC Trains Indonesian Family Business Owners to Improve Corporate Governance

Yogyakarta, Indonesia, September 27, 2012— IFC, a member of the World Bank Group, together with the Family Business Network Asia and the Indonesian Institute for Corporate Directorship, is helping family business owners in Indonesia promote good corporate governance practices in their boardrooms through training workshops.
The three-day workshop addressed key challenges faced by family businesses in making management structures at their firms transparent, holding managers and owners accountable, and it laid out how improved corporate governance helps to attract investors.
“Good corporate governance can increase competitiveness and ensure the sustainability of family-owned business, thus creating jobs and opportunities for people,” said Sarvesh Suri, IFC Indonesia’s country manager. “IFC can support Indonesian companies in integrating good corporate governance practices into their operations to benefit owners and staff.”
Rodolfo C. Balmater, executive director of Family Business Network Asia, said family-owned corporations are a significant component of the Indonesian economy and IFC can play a key role in improving their governance and risk management.
“IFC’s good governance training will give Indonesian family business owners the essential tools to protect themselves against potential risks and failures,” Balmater said.
“Good corporate governance can improve profitability, growth, and sustainability of family businesses and hence increase stakeholders’ satisfaction,” said Budiarto Subroto, chairman of the Board of Management at the Indonesian Institute for Corporate Directorship. “The Institute supports and contributes to the efforts of improving the professional skills of directors and corporate governance practices in family-owned corporations.”
Family business owners should gain a better understanding of the conceptual tools and processes of self-governance and learn to separate family from business after attending the workshops.
Launched in June this year, IFC’s corporate governance program in Indonesia provides advisory services to the country’s corporations. The program offers a wide spectrum of governance interventions for different business sectors.
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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