DUSHANBE, July 9, 2013, Asia-Plus – International Finance Corporation (IFC), a member of the World Bank Group, and the United Kingdom’s Department for International Development are launching the IFC Central Asia Corporate Governance Project II in Tajikistan and Kyrgyzstan.

Press release issued by IFC notes that over the next two years (2013 – 2015), IFC will continue helping companies improve their corporate governance practices through in-depth corporate governance assessments, with a focus on financial institutions and family-owned as well small and medium enterprises.

IFC will also build the capacity of local intermediaries including consulting firms and non-governmental organizations, all of whom will continue to help local companies and banks improve corporate governance.

The new project in Tajikistan began with a two-day training for trainers in Dushanbe, on July 2-3, for consulting firms and non-governmental organizations in the Tajikistan, and aimed at equipping participants with knowledge and skills necessary to train the members of board of directors and managers on corporate governance issues.

It was followed by a two-day in-depth training for members of boards, on July 4-5, to directors and managers of local companies to incorporate best international corporate governance practices into their companies’ operations.

“Good corporate governance helps companies and markets attract investors, reduce their cost of capital, improve company performance, and better weather financial crises,” said Sergii Tryputen, IFC Project Manager.  “It also will help create an environment supportive of investment, entrepreneurship and innovation, support economic diversification, and ultimately raise the living standards of people in both countries.”