The Global Corporate Governance Forum is an International Finance Corporation (IFC) multi-donor trust fund facility located in the IFC/World Bank Corporate Governance and Capital Markets Department. The Forum was co-founded by the World Bank and the Organization for Economic Co-operation and Development (OECD) in 1999.

The Forum promotes sustainable economic growth and poverty reduction within the framework of agreed international development targets. The Forum focuses on practical, targeted corporate governance initiatives at the local, regional and global level.


The Forum's Approach
Private Sector Opinion, Issue 8: Governance Scorecards as Tools for Breakthrough Results, Jesus P. Estanislao, Chair of the Institute of Corporate Directors, President of the Institute for Solidarity in Asia, and a Member of the Forum’s Private Sector Advisory Group

The article introduces the usage of scorecard tools in helping companies to achieve their governance improvements. It will help to steadily improve company performance and generate above market returns for investors.

FOCUS 6 (Spanish version): Drivers of Corporate Governance Reforms,Take-Over and Tender Offer Experiences in Chile and Panama features insightful first-hand accounts by two former securities commission Chairmen, Alvaro Clarke in Chile and Carlos Barsallo in Panama. Each shares their views and analyses on the cases they prosecuted and how each of their respective market’s experience with corporate Take Over and Tender Offers led to different reform outcomes. The English version of Focus 6 will be coming soon.

Álvaro Clarke's reflections on the ‘Chispas’ case, a massive misappropriation of shareholder value by corporate insiders, is the classic case of a minority shareholder protection reform born out of a scandal. The experience of Panama, presented as paradoxical to the Chilean experience, is the case of a minority shareholder protection reform introduced by the Panamanian securities regulator. The reform is then rejected by the market in theory, struck down by the courts of law, but accepted and followed in practice, even today.

Forum's News

Bahrain: IFC Supports Bahrain in Drafting a Corporate Governance Code — The IFC's Global Corporate Governance Forum (GCGF) and PEP-MENA supported a conference organized by the Center for International Private Enterprise (CIPE) and the Bahrain Accountants Association to launch a consultative process for the country's first corporate governance code, the Gulf Daily News Reports. Ken Rushton, a member of GCGF's private sector advisory group attended and gave feedback to the task force. After the event, Marie-Laurence Guy, the Forum's Senior Projects Officer commented: " A national code is a key step forward towards further corporate governance reforms in the country. A code will raise awareness and make companies more willing to implement international best practices which will ultimately increase their access to international financial markets."




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