5th Annual Meeting

Fifth Annual Development Finance Institutions Meeting on Corporate Governance

“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.