DUSHANBE, October 12, 2012, Asia-Plus — The International Finance Corporation (IFC) is helping Tajik and Kyrgyz companies strengthen board effectiveness.
IFC hosted a two-day workshop in Bishkek, Kyrgyzstan on October 10-11 to help Tajik and Kyrgyz companies and banks improve their corporate governance, enabling them to grow and create jobs.
Organized in cooperation with the Ukrainian Mediation Center, the workshop helped board directors and managers develop effective negotiation and communication skills, press release issued by IFC said.
The event reportedly brought together over 30 owners and managers from Kyrgyzstan and Tajikistan, including from consulting firms and non-governmental organizations.
Ernest Kamchybekov, CEO of Elet Capital Microcredit Company, said, “Effective negotiation is key to finding commercially attractive solutions that can suit all participants of the process. The acquired skills and techniques will help me successfully negotiate in various complicated conversations while maintaining and strengthening business and personal relationships.”
Sergii Tryputen, IFC Project Manager, said, “Establishment of effective communication and a dispute resolution system enhances the business environment in companies. By providing such training, we aim to help companies build confidence in their management and boards of directors.”
This initiative is part of IFC’s Central Asia Corporate Governance Project, implemented in partnership with the United Kingdom’s Department for International Development. The Project helps local joint stock companies and banks strengthen their corporate governance practices to increase their ability to attract financing and manage risks.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, IFC’s investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges.
