Latin America and the Caribbean

Objectives

The IFC-World Bank Corporate Governance Program in Latin America and the Caribbean helps all types of businesses to deliver on their strategies, improve efficiency and attract investment through the enhancement of their corporate governance practices. The program also raises awareness of corporate governance best practices in the market, supports local corporate governance institutional capacity and assists the development of the investment and regulatory environment. The program is supported by the State Secretariat for Economic Affairs (SECO) of the Government of Switzerland.


What We Do

We provide tailored advice to companies (including small and medium enterprises, family businesses, financial institutions, state-owned enterprises and listed companies) on improving their corporate governance practices, based on best international practices. Some key areas of focus include:

  • Board practices
  • Board evaluations
  • Family business governance
  • Internal and external control environments
  • Risk management and compliance
  • Shareholder rights
  • Transparency, disclosure and reporting
  • Preparing for initial public offering (IPO)

We also work with corporate governance institutes, educational institutions, chambers of commerce, consulting firms, the media and other key stakeholders to build local capacity and promote wider acceptance of good corporate governance throughout the Latin America and the Caribbean region. The program also chairs the Latin American Companies Circle and the Network of Corporate Governance Institutes of Latin America (IGCLA).

Further, we work with governments, regulators, stock exchanges and other policy-makers to support regulatory and listing rule reforms in corporate governance.
 

Where We Work

Our work extends throughout the markets of Latin America and the Caribbean, with our approach adapted to the needs of the individual market.

 

Project Highlight: Supporting Colombia's OECD Accession Process

Colombia is in the process of acceding to the Organisation for Economic Co-operation and Development (OECD). The program provided support to the Colombian government in adopting its state-level policy for state-owned enterprise (SOE) governance and ownership in November 2015 which aligns Colombia’s approach to the requirements of the OECD. In parallel, the program supports two key Colombian SOEs in developing their corporate governance practices in line with this new policy and the OECD’s Corporate Governance Principles, setting a benchmark in Colombia in this sector. Improving their corporate governance policies and structures will allow SOEs in Colombia to prepare themselves to seek external sources of financing (such as in the capital markets) and to enhance their overall sustainability and viability.

 

Resources

Video: Servicios de Asesoria en Gobierno Corporativo de IFC: Ayudando a Las Empresas a Crecer y Operar de Manera Mas Rentable, January 2017
IFC, miembro del Grupo Banco Mundial, ofrece una amplia gama de servicios de asesoría especializados, que mejoran el gobierno corporativo de las empresas. Además de las consultorías, evaluaciones, planes de mejora, y el desarrollo de talleres personalizados, trabajamos con los directorios de las empresas para mejorar su composición, su reglamento y procedimientos.

Corporate Governance and Small and Medium Enterprises Fact Sheet, November 2016
IFC provides governance training and advisory services for founders and owners of small and medium enterprises (SMEs) with high growth potential. The training and services are based on IFC’s SME Governance Methodology, the first and only tool of its kind on the market

Lineamientos de Gobierno Corporativo en Revelación y Transparencia, November 2015
La publicación pretende dotar a las empresas con una herramienta para ayudar a desarrollar sus actividades de revelación y transparencia. La herramienta ayudará a las empresas a determinar el nivel de información y de revelación, así como la importancia de comunicar de manera oportuna y sustancial para aumentar su valor de mercado.

Private Sector Opinion 34: El Secretario Corporativo Polímata, September 2016
Este artículo contempla algunos de los aspectos del papel del secretario corporativo moderno y las competencias que se requieren para tener éxito.

Focus 14: Disclosure of Beneficial Ownership after the Panama Papers, July 2016
This paper advocates an approach based on the current communication strategy of firms that engage in open communication. They present information on control structures, their effect on governance and recognize the commercial and other strategic benefits of open communication. It also explores the implications of such an approach for both business and regulators.

Private Sector Opinion 33: Como Apalancar las Evaluaciones de los Directorios Para el Desempeño Sostenido, May 2016
Este documento establece algunas lecciones principales aprendidas acerca de la evaluación de los directorios, principalmente en los Estados Unidos y el Reino Unido, y explora la forma en que ese aprendizaje puede aplicarse a oportunidades de evaluación de directorios alrededor del mundo.

Juntas Directivas en el Desarrollo del Gobierno Corporativo, December 2015
Este libro de investigación reconoce la importancia de las buenas prácticas para la sociedad en general, y presenta un análisis detallado de uno de los principales mecanismos de gobierno corporativo, las juntas directivas.

IFC Corporate Governance Advisory Services: Helping Companies to Operate More Profitably and Grow, February 2015 
Also available in Spanish and Portuguese.

Informe Sobre Gobierno Corporativo en la República Dominicana - Realidad y Perspectivas, March 2014
El informe contiene las conclusiones de la encuesta nacional sobre la realidad y las perspectivas del gobierno corporativo realizada por IFC y la Cámara Americana de Comercio de la República Dominicana.

Guía de Recursos de Gobierno Corporativo Latinoamérica, 2012
La guía documenta los recursos pertinentes a América Latina en general, así como a los países específicos que pertenecen a la red de IGCLA. Esperemos que la guía sirve para ayudar a aprender más sobre el estado actual de gobierno corporativo en la región y el dialogo acerca del mismo tema, además de dar información sobre temas de gobierno corporativo en países específicos

Achieving Effective Boards - A Comparative Study of Corporate Governance Frameworks and Board Practices in Argentina, Brazil, Chile, Colombia, Mexico, Panama and Peru, June 2011
This publication surveys the corporate governance landscape and sets out recommendations from the Latin American Corporate Governance Institutes network across eight key issues relevant to board effectiveness.

IFC Family Business Governance Handbook, 2011
English  |  Spanish  |  Portuguese 
A concise and practical description of essential family business governance components and suggested approaches to resolving common family business governance dilemmas.

Gobierno Corporativo en Latinoamerica 2010-2011
En los últimos años, las buenas prácticas de gobierno corporativo han sido un tema de gran interés para varias compañías y organizaciones del mundo entero, y América Latina no ha sido la excepción.

Mesa Redonda Latinoamericana de Gobierno Corporativo: Capitalizando Sobre Una Década de Progreso, 2010
Con ocasión del décimo aniversario de la creación de la Mesa Redonda, el presente documento evalúa los logros de la reunión más importante de la región en gobierno corporativo.

 

More Resources >>

February 2017
 

Related Links

Fact Sheet: Corporate Governance in Latin America and the Caribbean, June 2019
English | Spanish | Portuguese

The Latin American Companies Circle

Independent Directors in Latin America, a time for change? Blog by Oliver Orton, March 2019

 

Contact:

Davit Karapetyan
Corporate Governance Lead
+1 (202) 458-9517
Email:  dkarapetyan@ifc.org

Oliver Orton
Program Manager
+ 57-1-319-2360 
Email:  oorton@ifc.org