IFC is a global corporate governance market leader and brings expertise and significant experience in tackling governance challenges faced by companies, financial institutions, and markets around the world that are aligned with the realities of the private sector.
IFC promotes the adoption of corporate governance's best practices and standards in countries where they are most needed by:
working with companies and financial institutions to analyze, and then improve, corporate governance practices, by providing tailored advice and assisting with implementation of recommendations;
building capacity of local institutions, including institutes of directors, associations, universities, and others, to provide corporate governance services and advice;
assisting in the adoption and implementation of the Corporate Governance Development Framework; and
raising awareness through the media, conferences, and roundtables as well as the sharing of best practices.
IFC has developed a globally respected and well-tested methodology for helping companies and financial institutions to improve their corporate governance.
This methodology provides a framework to review the current state of corporate governance in a company or financial institution and to identify areas for improvement. A range of sophisticated tools are applied to assess board of directors' policies and practices, shareholders' rights, audit and control processes, risk management, and transparency and disclosure mechanisms.
IFC offers a range of services, often provided with the support of locally based institutions, from assisting companies and financial institutions, ranging from a tailored "diagnostic" review, to consultations on specific corporate governance matters, to in-depth assessments with implementation plans.
With a solid portfolio of achievements and increased demand for corporate governance support, IFC is now ramping up its corporate governance leadership and support to companies that will lead to greater efficiency in the delivery of our program, especially for equity investees.
We will integrate all corporate governance staff into one global team able to provide investment support and advisory services through single points of contact per region, and we will ramp up support in underserved regions such as Sub-Saharan Africa, South Asia, and Latin America and the Caribbean through new or enhanced regional advisory programs.
This will also help us strengthen our capacity to deliver implementation support to the companies we invest in.