“Adopting and Implementing a Common CG Methodology and Tools for the Due Diligence of Investment Processes”
Date: 24-26 January 2011
Location: Jeddah, Saudi Arabia
Host Institution: Islamic Development Bank
To introduce DFI participants to the common methodology and tools for the review/assessment of the corporate governance of investee companies during the investment due diligence process.
- Greater effort is needed by DFI signatories in implementing the Approach Statement on Corporate Governance.
- The Corporate Governance Common Methodology was confirmed as a good tool to measure the status of corporate governance of investee companies and as such, can be adapted by DFIs to meet their own requirements and environments.
- It was agreed to create a Common Methodology Implementation Statement and have DFIs sign it during the World Bank Annual Meeting in September/October 2011.
- It was agreed that DFIs should report on their progress in implementation of the Common Methodology. The IDBG Group volunteered to host the reporting secretariat.
- The DFIs website on Corporate Governance, developed by the IDB, was adopted as the main knowledge sharing platform for the DFIs.
- DEG was welcomed as the newest member of the Working Group.
The participating Institutions of the conference include:
- Aga Khan Development Network
- Andean Corporation for Development
- Arab Bank for the Economic development of Africa
- Asian Development Bank
- Black Sea Trade and Development Bank
- CDC Group Plc
- CARTI CAPITAL
- Deutsche Investitions- und Entwicklungsgesellschaft mbH
- East African Development Bank
- European Bank for Reconstruction and Development
- Hawkamah Institute
- IAAG Consultants
- International Finance Corporation
- Inter-American Development Bank
- Inter-American Investment Corporation
- Islamic Development Bank
- Netherlands Development Finance Company