Cairo, March 17, 2008—In cooperation with IFC, a member of the World Bank Group, the Management Center at the American University in Cairo today announced the signing of an agreement to improve corporate governance practices in Egypt and across the Middle East and North Africa.
IFC will provide the Management Center at the American University with a corporate governance curriculum. This will be promoted and implemented by the center through a series of workshops and a professional certificate program.
Sherif Kamel, Director of the Management Center, said, “The program is a valuable addition to our portfolio of offerings, as we serve an increasing demand in the market that reflects globalization and the promotion of foreign investments in Egypt.”
IFC helps local educational institutions throughout the Middle East and North Africa provide training to equip corporate and bank directors with tools for implementing corporate governance best practices. Better corporate governance presents opportunities for managing risks, adding value to companies, and contributing more broadly to sustainable private sector investment in developing countries. This corporate governance initiative is supported by IFC Advisory Services for the Middle East and North Africa – PEP-MENA.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit
www.ifc.org
.
