TS2

5th Conference — Jeddah, Kingdom of Saudi Arabia

“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

Objective

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.

Main Outcomes

  • 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.

Participants

The participating Institutions of the conference include: