For corporations, having access to diverse talent, cultures, and perspectives confers a number of advantages. Research shows a positive correlation between female participation on corporate boards and good governance and leadership. Good governance is vital for improving profitability, shareholder value, growth, risk-management, and attractiveness for investment.
IFC implements internal and external programs to promote women in business leadership. IFC’s Women on Boards program pursues the following activities:
Bosnia and Herzegovina, Indonesia, and Jordan are some of the countries in which Women on Boards has trained female executives. As a result, we have helped increase their participation in senior company positions.
IFC strives to diversify its own pool of candidates for board positions in companies that we partially own. By the end of 2015, we expect to fill at least 30 percent of IFC-nominated director positions with women. For this purpose, we sponsor the Nominee Directors Database, which includes the names of consultants and former World Bank Group staff. The database provides a rich pool of candidates, including women, to consider as the companies make efforts to diversify their boards.