IFC works closely with Corporate Governance Institutes, Institutes of Directors and other director training organizations (“CG Institutes”), to build their capacity and outreach. IFC launched its toolkit on building director training organizations in 2003. Since then, IFC has partnered in Institutes across some 46 countries through programs funded by Australia’s Department of Foreign Affairs and Trade (DFAT), Development Bank of Austria (OEEB), State Secretariat for Economic Affairs of Switzerland (SECO), UK Aid and the governments of Canada, Japan, Luxembourg, the Netherlands, Norway, Spain and Sweden.
CG Institutes exist in some 120 countries and are potent market intermediaries. They influence markets and promote good corporate governance practices and board professionalization through: standard setting, advocacy and director training programs. Institutes globally often struggle to maintain financial sustainability. Nascent and intermediate institutes are required to find funds for curriculum development while mature institutes need to diversify services in order to maintain and grow their membership base.
IFC enters into strategic partnerships with CG institutes providing advice and tools on reaching sustainability and influencing stakeholders and markets. IFC’s toolkit on Building Director Training Organizations provides step by step guidance on starting up and expanding CG Institutes. IFC’s partner institutes gain access to curricula and training materials developed specifically to engage adult learners and professionals. IFC organizes every two years its Global Institutes Network Meeting, a unique forum for knowledge exchange among institutes across emerging markets. Institutes, from nascent to mature share their challenges, lessons learned and gain training on corporate governance trends. Nascent institutes also benefit from peer to peer learning with successful institutes such as the Brazilian and South African institutes.
IFC’s work with CG Institutes spans some 46 countries from diverse regions. In Iraq and the Pacific, IFC’s regional projects were instrumental to the launch of institutes: gathering stakeholder support and training cadre of trainers. In Morocco and Nigeria, director certification and localized curriculums were developed with IFC’s technical assistance. In Brazil, IFC provided assistance in focusing on behavioral training. Throughout the Eastern Europe and Central Asia region, IFC trains institutes on its corporate governance assessment methodology to deliver non-training services. Over the next year, the East Asia Corporate Governance project will support the setting up of institutes of directors in Vietnam and Myanmar.
Practice Brief – Behind Directors Certification Programs, December 2013
Sarah Cuttaree | Washington, DC