New Delhi, India, March 3, 2009
—IFC, a member of the World Bank Group, is joining forces with the Confederation of Indian Industry to expand the reach of a training program that will help strengthen corporate governance in India.
IFC, through its Global Corporate Governance Forum, is tailoring the training program to the Indian market and working closely with partners on the implementation plan. The program, created in 2007 by IFC and Securities Exchange Board of India’s National Institute of Securities Markets, is designed to reach key players in corporate governance, including board directors, practictioners, academics, and the media.
The Confederation of Indian Industry is joining the program, and will provide access to its vast network of industrial and corporate communities. NISM will continue to foster the dialogue with the government and regulators to support the initiative.
“Partnering with CII, in addition to our ongoing cooperation with NISM, will help us better reach key stakeholders to raise awareness about corporate governance, promote best practices, and help local companies improve their performance,” said Philip Armstrong, Head of the IFC Global Corporate Governance Forum.
The program’s training modules for directors focus on building leadership skills and helping them determine strategic direction for their companies based on the IFC’s Corporate Governance Board Leadership Training Resources Kit.
Because the media play an important role in raising public awareness and supporting enforcement, the program also includes a series of workshops aimed at enhancing journalists’ knowledge and reporting techniques concerning corporate governance issues such as transparency and disclosure.
Gene Spiro, IFC Senior Projects Officer said, “Partnership with CII will give our program greater reach into the local business community and will help us to better align our work to local needs.”
The IFC Global Corporate Governance Forum is a multidonor trust fund facility. It promotes sustainable economic growth and poverty reduction in low- and middle-income countries by helping improve corporate governance practices. Donors include IFC and the governments of Canada, France, Luxembourg, the Netherlands, Norway, Sweden, and Switzerland.
About IFC
IFC, a member of the World Bank Group creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $16.2 billion in fiscal 2008, a 34 percent increase over the previous year. For more information, visit
www.ifc.org
.
For more information about the IFC Global Corporate Governance Forum, visit
www.gcgf.org
.
For more information about the Confederation of Indian Industry, visit
www.cii.in
.
For more information about the National Institute of Securities Markets, visit
www.nismindia.com
.
