According to the bank document, the project will undertake work in Cambodia and Laos, IFC will provide the following services:
a. Working with Companies: The Project will seek to deliver direct advisory services on Corporate Governance (CG) to selected entities. The scope of the services will include but not be limited to in-house CG training, CG policies/procedures review and development, board practices evaluation, and full CG assessment, etc. The Project will seek to conduct CG Assessments and CG Improvement Plans for selected companies. The aim of the assessments is to help particular companies implement better CG practices in their companies. As a knowledge management tool, the information from these assessments will be used in future awareness-raising events to help demonstrate the impact of good CG in the region.
b. Enabling Environment: The Program will build upon this success and work towards developing/disseminating corporate governance codes. The rationale here is that a better understanding of corporate governance and the appropriate functioning of a modern corporation will lead to increased support for reforms and the acceptance of foreign investment as a necessary condition for the growth of the economy.
c. Working with Educational and Training Institutions: In Laos, the Program will provide a train-the-trainer program to a local institute on corporate governance best practices. The Program will share IFC’s CG tools, methodology, manuals and guidebooks with the local partner.
*There is no further information being disclosed at this stage of the project*
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/