The World Bank Group Consultation Hub provides a one-stop shop for those interested in consultations hosted by the World Bank Group. On the hub are listed all ongoing and planned consultations as well as those that were closed within the past year. Information on the subject of consultation, on the scope and process of consultation, and on how to contribute to the World Bank Group's decisionmaking process is available. Feedback submitted by World Bank Group stakeholders can be viewed on a range of topics.
Consultative Group to Assist the Poorest
Consultative Group to Assist the Poorest (CGAP) is a global partnership of 34 leading organizations that seek to advance financial inclusion. CGAP develops innovative solutions through practical research and active engagement with financial service providers, policy makers, and hinders to enable approaches at scale. CGAP combines a pragmatic approach to responsible market development with an evidence-based advocacy platform to increase access to the financial services the poor need to improve their lives.
Improving corporate governance is a priority for IFC. Good corporate governance contributes to sustainable economic development by enhancing the performance of companies and increasing their access to outside capital. Increased access to capital encourages new investments, boosts economic growth, and provides employment opportunities. Good corporate governance also helps companies operate more efficiently, mitigates risk, and safeguards against mismanagement. Well-governed companies are therefore more accountable and transparent to investors and have the tools to respond to stakeholder concerns.
IFC was the first development finance institution to require corporate governance analysis of every investment transaction as part of its due diligence process. IFC provides investment support and advice on good practices for improving board effectiveness, strengthening shareholder rights, and enhancing the governance of risk management, internal controls, and corporate disclosure.
IFC works in close collaboration with the World Bank to ensure that regulation in emerging markets is developed using IFC's frontline experience as an investor. As such, IFC also advises regulators, stock market administrators, and others with an interest in improving corporate governance.
The IFC Corporate Governance Methodology is a system for evaluating corporate governance risks and opportunities that is recognized as the most advanced of its kind among development finance institutions. This methodology is the basis for a coordinated approach to corporate governance now implemented by more than 30 development finance institutions. IFC also helps strengthen local partners who will continue to provide corporate governance services over the long term. This includes training materials and institution-building tools in the areas of corporate governance associations, codes and scorecards, board leadership training, dispute resolution, the training of business reporters, and implementation of good governance practices in firms.
Strong corporate governance depends on diversity in board leadership. IFC strives to increase the number of women who serve as nominee directors on the boards of its clients. Nearly 24 percent of IFC nominee directors are women, and IFC is committed to increasing that share to 30 percent by 2015.