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Investor and Corporate Practice Corporate Governance Department Maldives, June 2006

ROAD MAP OF TALK. IFC's Interest in Corporate GovernanceIFC Corporate Governance DepartmentMethodology of the Investor and Corporate Practice UnitCorporate Governance Technical Assistance. IFC Portfolio Types of Companies. Arm of the World Bank Group that invests directly in the private ent

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Investor and Corporate Practice Corporate Governance Department Maldives, June 2006

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    1. 1 Investor and Corporate Practice Corporate Governance Department Maldives, June 2006 This is an adaptation of the morning training program we give to all IFC IOs. This is an adaptation of the morning training program we give to all IFC IOs.

    2. ROAD MAP OF TALK IFC’s Interest in Corporate Governance IFC Corporate Governance Department Methodology of the Investor and Corporate Practice Unit Corporate Governance Technical Assistance

    3. IFC Portfolio – Types of Companies Arm of the World Bank Group that invests directly in the private enterprises Cannot do any transaction that requires sovereign guarantees Approximately 250 New Commitments Per Year; 1500 Portfolio Companies Worldwide portfolio Publicly-Listed / Unlisted Companies All Industrial Sectors and Financial Sector Unlisted Founder / Family Controlled Enterprises (Board = Shareholders = Managers) Privatizations and Newly-Privatized Three-way Joint Ventures (Board = Shareholders Meeting) From a risk perspective, we think the most important are “widows and orphans” institutions (listed or not) and public companies. In our typical three-way joint venture (local sponsors, foreign technical partners, IFC) the board is the other face of the shareholders meeting and the shareholders agreement is a critical governance tool.From a risk perspective, we think the most important are “widows and orphans” institutions (listed or not) and public companies. In our typical three-way joint venture (local sponsors, foreign technical partners, IFC) the board is the other face of the shareholders meeting and the shareholders agreement is a critical governance tool.

    4. Why Does IFC Care About CG? Portfolio Performance Poor Governance Increases Risk Improving Governance is a Value Proposition (Private Equity Funds; BCR) Development Mission (Sustainable Development – Along with Social, Environmental,and other Elements of Sustainability) Reputational Risk / Reputational Agent NOTES NOTES

    5. CG is a Natural Fit for IFC Participation in Governance Worldwide in All Types of Companies, Industries Access to Data Skills, Experience to Deliver “Grass Roots” Private Sector Development Projects Bank Governance Projects in Ukraine and Russia Capital Markets Development Focus Global Partners OECD Global CG Forum / Private Sector Adv. Group Regional Partners, National advocacy, business schools, training institutes IFC-Nominated Directors This slide answers the question: Why are we good at this? This slide answers the question: Why are we good at this?

    6. IFC leads in putting CG into its investment process Leader among multilaterals financial institutions in integrating Corporate Governance in its investment process IFC has a specific department and methodology to co-ordinate this integration

    7. ROAD MAP OF TALK IFC’s Interest in Corporate Governance IFC Corporate Governance Department Methodology of the Investor and Corporate Practice Unit Corporate Governance Technical Assistance

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