ADFIAP’s “DFIs for Corporate Governance” Project gets another boost from a fourth grant being provided by the Center for International Private Enterprise (CIPE). The project is the Association’s response to the growing need of its member-banks in the Asia-Pacific region for the implementation of good corporate governance policies and practices in their respective institutions by learning from experiences of co-members as well as from those in other parts of the world.
The phased capacity-building project started in October 2002 with an awareness campaign on corporate governance and the institutionalization of governance codes and policy statements in member-banks. Phase II which begun in May 2004 entailed the development of a corporate governance rating system or ‘scorecard’ for development banks and other financial institutions, including commercial banks. In December 2005, Phase III of the project started which promoted the expansion of the role of bank compliance officers into corporate governance focal persons as well in their respective institutions.
Phase IV of the project, which is the recipient of the latest grant, aims to further strengthen governance practices in member-banks by linking these practices to the sustainable development mission of DFIs. ADFIAP believes that sustainable development cannot be attained without good corporate governance. The activities of this project which is expected to begin end of 2006 include a research study aimed to develop a corporate governance-sustainable development framework, one regional and four national training events, and a printed training pack for use of its members and other participating financial institutions
CIPE https://www.cipe.org is a non-profit affiliate of the U.S. Chamber of Commerce and one of the four core institutes of the National Endowment for Democracy. CIPE has supported more than 920 local initiatives in 105 developing countries, involving the private sector in policy advocacy and institutional reform, improving governance, and building understanding of market-based democratic systems. CIPE programs are also supported through the United States Agency for International Development.