Knowledge Management Workshop - Supporting the Development of Corporate Governance Codes of Best Practice

IFC Global Corporate Governance Forum recently held a knowledge sharing workshop in Washington DC., to support the development of corporate governance codes of best practices in developing countries. By sharing the “Lessons Learned” and building up a network of experts through the event, representatives will be able to better design and develop corporate governance codes in their respective regions.

The workshop is part of a knowledge transfer initiative that the Forum is pursuing by sharing lessons learned gained from code development projects implemented in the Middle East and North Africa (MENA) and South East Europe (SEE) regions over the last two years. It is the last stage of an implementation strategy which included the development of toolkit II on Developing Corporate Governance Codes of Best Practice, the implementation of a series of technical assistance workshops, the direct assistance to country task forces, and the launch of the code peer review group

“Codes are only means to an end, but they are not ends by themselves. We are happy to support the various regions with follow-up work on their code development projects by following a holistic approach to corporate governance reform that would include enhancing the corporate governance training capacity, improving alternative dispute resolution mechanisms and training the media to better report on corporate governance ”, said Philip Armstrong, Head of IFC Global Corporate Governance Forum.

The workshop was also a response to an escalating demand to support the development of new corporate governance codes or the revision of existing ones from ever widening sources around the world. The participants included Forum staff, representatives from IFC regional facilities, senior consultants as well as Forum partners such as the Center for International Private Enterprises (CIPE) and the European Bank for Reconstruction and Development (EBRD).

During the two-day event, participants enhanced the technical knowledge of the process and best practices of code development in emerging markets. “We are facing the same kind of problems. Exchanging; helps to clarify ideas, concepts and most importantly to find practical solutions” said by Emmanuel Du Boullay, President of FINCA (Le Conseil en Gouvernance).

For more information, please find the program.

The interactive workshop was held on September 18th and 19th in Washington DC at the International Finance Corporation's premises.