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Washington, D.C., July 2, 2007
— The IFC Global Corporate Governance Forum and the Reuters Foundation will develop a training program and a toolkit for journalists who report on corporate governance issues. The forum has signed an agreement with the Reuters Foundation to enhance the capacity of these journalists and help them report on governance more effectively. IFC is the private sector arm of the World Bank Group.
The project will comprise two series of workshops based on presentations, case studies, exercises, and discussions with corporate governance stakeholders and institutions. Southern Europe and the Middle East and North Africa will be targeted initially, with subsequent workshops planned for Africa, Asia, and Latin America and the Caribbean. A key element of the project includes sharing publications, tools, and lessons learned, drawing on the expertise of IFC and Reuters. The workshop materials will be shared with other media professionals beyond those participating in the program.
“The media’s role in raising public awareness of corporate governance issues is critical in fostering good corporate governance practices worldwide,” according to Teresa Barger, IFC Director for Corporate Governance and Capital Markets. “Reporting on these issues promotes awareness of best practices. The media is often quicker than regulatory bodies in identifying lapses, and is also a key agent in building general support for good corporate governance, disseminating information regarding better corporate governance, and supporting enforcement.”
Jointly organized by the IFC Global Corporate Governance Forum and the Reuters Foundation, the project will hold its first workshop in Belgrade in October 2007.
About IFC
IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries. IFC supports sustainable private sector companies and other partners in generating productive jobs and delivering basic services, so that people have opportunities to escape poverty and improve their lives. Through FY06, IFC Financial Products has committed more than $56 billion in funding for private sector investments and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. IFC Advisory Services and donor partners have provided more than $1 billion in program support to build small enterprises, to accelerate private participation in infrastructure, to improve the business-enabling environment, to increase access to finance, and to strengthen environmental and social sustainability. For more information, please visit
www.ifc.org
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IFC Global Corporate Governance Forum
Established in 1999, the Global Corporate Governance Forum is an IFC multidonor trust fund facility. The forum aims to promote the private sector as an engine of growth, reduce the vulnerability of developing and transition economies to financial crises, and provide incentives to corporations to invest and perform efficiently and in a socially responsible manner. The forum sponsors regional and local initiatives that address the corporate governance weaknesses of middle- and low-income countries in the context of broader national or regional economic reform programs. For more information, please contact Eugene Spiro at
espiro@ifc.org
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About the Reuters Foundation
The Reuters Foundation is a charitable company funded by Reuters, the world’s largest international multimedia news agency. With 2,400 editorial staff, journalists, photographers, and camera operators in 196 bureaus serving 131 countries, Reuters provides its subscribers with some 8 million words published daily in 18 languages and a round-the-clock video news service supplied to the world’s leading broadcasters. Reuters is listed on the London Stock Exchange and on NASDAQ and is among the most-read news sources on the Internet. Its reliable and objective reporting is valued by customers around the globe, and its independence and integrity are safeguarded by constitutional mechanisms, which limit its shareholdings, provide special voting protection, and ensure adherence to a set of trust principles. For more information, please contact Jo Weir at
jo.weir@reuters.com
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