Ottawa, Canada, November 8, 2001—
The International Finance Corporation (IFC) and Canadian Manufacturers & Exporters (CME) have signed a letter of agreement whereby CME and IFC will assist business associations to become established in Western China and Vietnam and mainstream best practices in the building of effective membership-driven associations.
This partnership, in which the Canadian International Development Agency (CIDA) is also to be a joint sponsor, is one of several initiatives led by the World Bank Group’s Small and Medium Enterprise (SME) Department. SME is one of six joint Bank-IFC departments. The SME Department and its project development facilities support the growth and advancement of business associations world-wide and improve best practices—both key elements of a well-functioning private sector.
Through this partnership CME will, jointly with the targeted associations, assist in the development of action plans and deliver technical assistance to ensure their implementation. The plans will cover such areas as the expansion of membership services, public relations, policy development, and advocacy. In addition, strategies to ensure financial stability for each association will also be developed.
As part of this partnership, CME will work with the Confederation of Danish Industries, International Chamber of Commerce, and the Center for International Private Enterprise to develop best practices to benchmark and assess the performance of business associations in developing countries.
The agreement was signed by Harold Rosen, Director, SME Department of the World Bank Group and Perrin Beatty, CME President and CEO. Work on the project will begin shortly.
Mr. Rosen said, “We expect that many worthwhile projects will be developed as a result of our partnership agreement with CME and are very pleased to be part of this initiative.”
Mr. Beatty added, “For more than three decades, CME has been committed to working with business associations around the world in developing educational programs and cooperation agreements. We hope that the IFC project will build on and add to CME’s international success.”
Last year, CME carried out a similar project on behalf of the World Bank in Bosnia and Herzegovina, working with seven fledging associations in that country.
CME is Canada’s leading business network. Its members account for 75 percent of Canada’s industrial output and 90 percent of its exports. CME’s vision is to continuously improve the competitiveness of Canadian industry and expand export business. The association’s mandate also has an international dimension and since 1970 it has been actively working with multilateral and bilateral organizations on international projects such as the one signed today.
IFC’s mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses. Since its founding in 1956, IFC has committed more than $31 billion of its own funds and arranged $20 billion in syndications for 2,636 companies in 140 developing countries. IFC’s committed portfolio at the end of FY01 was $14.3 billion.
