Jakarta, Indonesia, June 18, 2012—
IFC, a member of the World Bank Group, launched a new corporate governance program to help Indonesian companies increase competitiveness and access to financing by improving transparency in their business operations.
IFC Indonesia Corporate Governance program will provide advice to companies on implementing good corporate governance practices, work with government agencies to improve the regulatory framework and with educational institutions to provide training, and raise public awareness.
“Indonesia plays an increasingly important role in the global economy. Against this backdrop, Indonesian companies have to compete against enterprises from other emerging economies not only for market share but also for capital,” said Sarvesh Suri, IFC Country Manager for Indonesia. “Good corporate governance becomes essential in increasing investor confidence in Indonesian companies and in the general business environment, and supports sustainable economic development.”
Good corporate governance practices include protecting shareholder rights, sound risk management, and enhanced financial disclosure and transparency.
“IFC’s firsthand experience shows that good corporate governance leads to better business results and fosters a favorable business climate,” said Juan Carlos Fernandez, IFC Senior Operations Officer for Corporate Governance in East Asia and Pacific. “With our global and regional experience and expertise, we can support Indonesian companies in integrating good corporate governance practices into their operations, benefiting their shareholders.”
IFC’s Corporate Governance Program has contributed to the development of 48 corporate governance codes in 32 countries. It has also delivered board leadership training resources that have been used to instruct about 700 corporate governance master trainers in 46 countries. In East Asia and the Pacific, IFC has produced an annual corporate governance scorecard for large listed Vietnamese companies and partnered with China’s Shenzhen Stock Exchange to enhance corporate board performance.
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