CIPE and its global partners have conducted dozens of successful corporate governance projects around the world since 1992. The need for increased corporate governance is a global issue and central to the international business and development agendas. CIPE is actively contributing to the dissemination of information on this issue from the standpoint of the private sector.

Below you can find a list of CIPE's currently active corporate governance projects. For more information on corporate governance, visit CIPE's the "Strengthening Corporate Governance" page on CIPE's Web site at http://www.cipe.org/programs/corp_gov/index.php.

Africa

Private Sector Corporate Governance Trust (PSCGT), Kenya- In an effort to promote the democratic principles of transparency, fairness, accountability and responsibility in the Kenyan private sector, the Private Sector Corporate Governance Trust (PSCGT) has launched a project to mobilize the Kenyan public to understand and demand good corporate governance. Through training, research, monitoring, evaluation, and advocacy, this project aims at motivating shareholders and community leaders to embrace and promote good corporate governance principles and good economic governance for sustainable development. The PSCGT also aims to facilitate the creation of a non-governmental association that defends shareholders rights in Kenya. Visit their Web site at www.corporategovernance.co.ke

African Capital Markets Forum (ACMF), Ghana- Building on recent anti-corruption and corporate governance initiatives, the African Capital Markets Forum (ACMF) - in collaboration with an advisory committee of key business sector stakeholders - is analyzing the linkage between corporate governance and corruption in Ghana. The basic premise is that weak corporate governance systems breed corruption. Based on a survey of publicly listed companies, private companies and state enterprises, ACMF will seek to demonstrate the effectiveness of sound corporate governance practices in reducing the incidence of corruption. The analysis is expected to generate recommendations for strengthening corporate governance in Ghana for the private, public and government sectors, and combating private-sector driven or "supply-side" corruption.

Institute of Economic Affairs (IEA), Ghana- CIPE sponsored a two-day conference in Accra, Ghana that brought together over 50 public and private sector participants from Ghana and Nigeria. The conference was made possible with funding from the National Endowment for Democracy (NED) and Exxon-Mobile, and in cooperation with the Institute of Economic Affairs (IEA) in Ghana and the Development Policy Center in Nigeria. The conference strengthened ties between participating organizations and provided a forum for them to develop strategies to improve corporate governance practices, policy, and education at the country level and define mechanisms for regional exchange and coordination.

Center for International Private Enterprise- On July 16-18, 2001 the Center for International Private Enterprise in cooperation with Global Corporate Governance Forum, the Commonwealth Association for Corporate Governance, and many other leading African and global sponsors, organized the first-ever Pan-African event on corporate governance. Held in Johannesburg, South Africa the conference brought together over 220 business, government, and NGO leaders to benchmark achievements in building corporate governance awareness in the region and to discuss the challenges of implementing corporate governance practices and principles. The forum successfully laid the groundwork for an informal network of African corporate governance experts and institutes that in future can share practical knowledge on strengthening corporate governance and press for broader acceptance of these important practices and principles.

Asia

Association of Development Finance Institutions in Asia and the Pacific - In this project ADFIAP will promote good corporate governance among development finance institutions in the Asia–Pacific region. The first phase of the project will involve a regional, four-day seminar in Manila on the role of corporate governance in the modern market economy. Drawing on participants from the 70 ADFIAP member institutions in 34 countries, this seminar will provide a chance to disseminate the philosophy and practice of corporate governance to the influential finance institutions of the Asia region. The next phase will be a series of national corporate governance workshops, taking place in the home countries of the ADFIAP member organizations. The final phase will involve follow-up activities such as helping member organizations to formulate and implement a corporate governance policy.

Institute of Corporate Directors - CIPE co-sponsored a three-day regional workshop in Cebu, Philippines with the Institute of Corporate Directors to join together market players in East Asia to push corporate governance reforms throughout the region. The workshop included participants from throughout East Asia identified corporate governance best practices among affected institutions, offer recommendations for reforms in Asia, and promoted a more transparent relationship between the public and private sectors.

Indonesian Chamber of Commerce and Industry - CIPE formed a partnership with the Indonesian Chamber of Commerce and Industry (KADIN) to place corporate governance reform and business ethics in the forefront of the debate for institutional changes within Indonesian society. The focus of the project is to educate corporations and other stakeholders on corporate governance practices in democratic societies and the need for business to develop ethical standards of conduct. KADIN is developing a code for Indonesian firms based on international standards and will promote adoption of more stringent principles through its member trade associations.

Chinese Center for Corporate Governance - In November 2001, CIPE and the Chinese Center for Corporate Governance will jointly organize a conference in Beijing on corporate governance reform. China is introducing new stricter standards of corporate governance for firms listed on its two securities exchanges, and this program will bring Chinese officials and business executives together with overseas experts and practitioners to discuss specific international standards that may be relevant to the Chinese context. Among the topics to be covered will be how boards of directors and board committees should be constituted to ensure that minority shareholder interests are protected in the firm's business operations and its relations with government.

Central and Eastern Europe

Central European University (CEU), Czech Republic/Regional - CIPE's corporate governance program began in 1992 through a training program undertaken by the Central European University with support from the Soros Foundation and the National Endowment for Democracy. The program was developed to establish a core group of senior Central European corporate directors schooled in the basics of corporate governance, and to develop a new generation of corporate directors who would have an understanding of the responsibilities of corporate governance, thus strengthening emerging corporate institutions in Central Europe. Developed in three phases over four years, the project served to develop a curriculum and materials for a course on the basics of corporate governance. After testing the impact of the program in the Czech Republic during the first phase, the subsequent two phases concentrated on replicating the program through the training of instructors and the translation of materials for licensed courses to be taught in Hungary, Poland, Ukraine, and Russia.

Center for International Private Enterprise/Romanian American Enterprise Fund - In cooperation with the Romanian American Enterprise Fund, CIPE sponsored a one and a half-day seminar and training program in Romania. The seminars explored the concepts surrounding corporate governance in the Romanian environment, and began building a public/private consensus on the need for a strategy to strengthen corporate governance policy and education in Romania. The goal of the program was to establish a common frame of reference from which policy and business leaders could begin developing a corporate governance strategy for Romania.

Center for Economic and Social Studies (CESS), Albania - Acknowledging the critical nature of effective corporate governance in ensuring successful privatization in Albania, the Center for Economic and Social Studies (CESS) is undertaking a comprehensive research and advocacy program on corporate governance and privatization. The future success of privatization will depend on the introduction of core system of corporate governance principles and practices that will ensure these vital enterprises are managed in an open and responsible manner. The effective exercise of ownership rights in restructuring and managing these firms will be crucial not only to their continued success, but also to contributing to the creation of a new climate of business in Albania. Investors must have confidence that enterprises will be managed effectively, and that government can provide the framework in which ownership rights can be exercised and guaranteed. The CESS project will survey current practices and highlight failures and shortcomings in Albanian corporate governance structures, CESS will conduct a national advocacy program of seminars, publications and media outreach to promote new policies and practices which could help ensure more successful privatization and a smoother transition process.

Center for Economic Development (CED), Bulgaria - The Center for Economic Development in Sofia, Bulgaria conducted a pilot program on corporate governance issues targeted at specific interest groups to provide a general introduction to corporate governance values and principles, broaden the debate on the Bulgarian approach to these issues, and further develop a strategy for corporate governance education. Ignorance of corporate governance principles must be fought at a variety of levels, within SOEs, among capital market institutions, policy makers, and the general public, as well as in the media. However, for those leading the fight for better principles the need exists to define issues, and the scope and extent of the problems to be addressed. CED organized and administered four one-day training seminars to address a variety of issues surrounding corporate governance. The seminars addressed specific groups and discussed their role in creating a society supportive of corporate governance concepts. The seminars served as two-way dialogues, providing information on corporate governance issues to participants, and promoting a two-way dialogue between CED researchers and affected groups as to the challenges they face in implementing corporate governance procedures, and ways in which CED can further support this transition.

Center for Economic Development (CED), Slovak Republic - The Center for Economic Development is currently conducting its second project of a series on corporate governance and its regional relevance for Slovakia that will build on previous research and advocacy programs sponsored by CIPE and the National Endowment for Democracy. CED is undertaking undertake a research, education, and advocacy program focused on harmonizing corporate governance in Slovakia with current international standards and best practices. By analyzing relevant issues such as legislation and the education of supervisory boards within the context of Slovakia as well as the broader regional experience, this program will help facilitate the four key values associated with corporate governance that are essential components of a successful democratic society: fairness, accountability, transparency, and responsibility.

Corporate Governance Initiative (CGI), Bulgaria- Aware of the need to promote corporate governance to the business community and government, a coalition of NGO¹s and think tanks has formed under the name of The Corporate Governance Initiative (CGI). Building on previous research and advocacy programs sponsored by CIPE and the National Endowment for Democracy, work by the CGI over the past two years has successfully targeted changes in legislation and building public/private linkages, and has also focused on advocacy and dissemination as a means for influencing corporate best practices. Spearheaded by the CSD, the CGI has completed research and development of the Corporate Governance Assessment Report and Corporate Governance Guidelines. These are anticipated to be effective tools for promoting better understanding and implementation of corporate governance principles in Bulgaria and other transition countries. Addressing the critical issues: voting rights and equal treatment of all shareholders; board structure and the role of managing bodies; and information disclosure and transparency, these concrete documents lay the groundwork for implementation of practical and policy instruments which will help ensure accountability, transparency and sound business practice in Bulgaria¹s emerging market. Visit CGI's Web site at www.csd.bg/cgi.

Private Entrepreneurs Confederation from the Timis County (PECT), Romania- An effective and efficient way to foster corporate governance reform is to develop higher operating and reporting standards among private and public enterprises. Basic among these efforts are, to have stronger boards of directors, regulations on shareholder rights and accepted standards for financial accountability and transparency. Through this project, the Private Entrepreneurs Confederation of Timis County (PECT), seeks to transform its growing influence into an effective, local leadership voice for advocating ethical business policies and practices - a necessary, nonpartisan voice that does not currently exist in Romania. PECT will work to extend the business knowledge and leadership skills of its members and will cooperate in this endeavor with the Strategic Alliance of Business Associations (SABA). In addition to organizing a Corporate Governance National Task Force, training events, public hearings and a national conference are the core activities of the project.

Center for International Private Enterprise- CIPE, in cooperation with the Center for the Study of Democracy (CSD), and the support of the National Endowment for Democracy, organized a corporate governance regional conference, September 22-23, 2000 in Sofia, Bulgaria. The conference served to craft a unique dynamic, in which the business community, market participants and think tanks worked together to forge their own approaches to corporate governance. This was complemented by a Corporate Governance Clinic which elaborated the "main pillars" and institutions of governance, corporate codes and institutional investors, and achieved a healthy exchange of ideas between participants and international experts.

Regional Corporate Governance Initiative for the Transition Countries- During Summer 2000, CIPE was awarded a USAID two-year $500,000 regional grant to promote corporate governance in Central and Eastern Europe and the NIS. Entitled "The Corporate Governance Initiative for the Transitional Economies", the project has the following objectives:

• To increase awareness of the need for effective corporate governance policies and practices among policy makers, business leaders, and the financial market intermediaries.
• To develop policy initiatives that could be applied in CEE/NIS that would address issues of corporate governance.
• To increase public awareness of corporate governance issues and shareholders' rights.
• To increase investor confidence in the region through introducing corporate governance best practices to CEE/NIS.
• To identify corporate governance best practices that could be applied in transitional economies and thus ensure the promotion of democracy by building on key corporate governance concepts such as accountability and transparency.

The core concept behind the project and its activities, is that if the adoption of corporate governance principles and practices is to succeed, demand for such principles must come from the business community. As such, project activities are focused on creating a network of business-related NGO's throughout the transitional economies that can work with local businesses to identify local challenges and models for corporate governance, and share approaches for building public awareness and demand for their use. Activities focus on building a base of experiences on approach, and providing those who wish to promote these principles with the tools necessary to identify and publicize issues, as well as educate the general public. Activities include:

The Marek Hessel Small Grants Program - A competitive grants project awarding up to six $25,000 grants to organizations and coalitions wishing to promote corporate governance principles. Additional "follow-up" grants will be made to select groups.

Corporate Governance Training - Utilizing materials developed by CIPE and its partners to enable local training approaches for corporate governance. Possible approaches include support for the creation of Director's Institutes, distance education programs, and courses within existing educational institutes.

Tool Kit for Corporate Governance - Creating a basic set of materials based on project experiences, that can guide those who wish to promote CG standards, with a variety of approaches and models on how to identify issues, build coalitions, and communicate recommendations.

Networking of Organizations - Through conferences and a web-site, CIPE is working to build an informal regional network of business and policy groups focusing on these issues.

Eurasia

Institute of Stock Market and Management (ISMM), Russia - To enhance corporate governance in Russia, CIPE will conduct a project in cooperation with the Moscow-based Institute for Stock Market and Management (ISMM) with the support of the National Endowment for Democracy. ISMM will develop and pilot test training, examination and certification materials to educate corporate directors on fundamental corporate governance principles. By targeting these materials to directors, the project aims to develop a corps of trained, professional directors who can carry out their responsibilities on Boards of Directors. In so doing, these directors will introduce or enhance democratic and corporate governance principles and best practices in Russian companies. This project will be a stepping stone toward an eventual goal of establishing a Russian Institute of Directors.

Investors Protection Association (IPA), Russia- CIPE and the Investors Protection Association (IPA) have developed a web site dedicated to corporate governance in Russia. The web site, implemented within the framework of the OECD/World Bank - Russian Corporate Governance Roundtable, is available in English (www.corp-gov.org) and in Russian www.corp-gov.ru. On the web site, readers can find information on corporate governance and protection of investors' rights in the Russian market, as well as exchange opinions and share their experience.

University of International Business (UIB), Kazakhstan - Under a project entitled "Building the Grassroots Foundation for Corporate Governance in Kazakhstan," the University of International Business (UIB) is working to build understanding and increase public education among a coalition of non-governmental organizations and business infrastructure on the need for corporate governance. UIB will survey the coalition members regarding the state of corporate governance in Kazakhstan and organize a conference for all stakeholders in Almaty. Public education initiative will be started with a select group of business journalists in television, radio and newspaper.

Investors Protection Association (IPA), Russia - CIPE and the Investor Protection Association (IPA) developed a web site dedicated to corporate governance in Russia. The web site implemented within the framework of the OECD/World Bank - Russian Corporate Governance Roundtable is available in English (http://www.corp-gov.org) and in Russian (http://www.corp-gov.ru). On the web site, readers can find information on corporate governance and protection of investors' rights in the Russian market, as well as exchange opinions and share their experience.

Center for International Private Enterprise - CIPE, the Investors Protection Association and the Russian Managers Association will cooperate in a USAID funded project to conduct a corporate governance survey to identify the Russian businesses where Boards of Directors include independent members to date. Approximately 500 companies will be covered in the survey. Upon completion of the survey, a report will be written summarizing the poll findings and will include the list of enterprises and independent directors, confirmed where possible by according investors and investor intermediary organizations. A press conference will be held announcing the survey report. The findings will be made available to the public through mass media and IPA's web site, both in English and Russian.

Center for International Private Enterprise - CIPE cooperated with two shareholder rights groups to hold a one-day seminar in Ekaterinburg in February 2000, a formerly closed city in the Urals, nearly 900 miles east of Moscow. This seminar provides a successful model that can be used throughout Russia. One key reason for the success: Russian buy-in and commitment. The Russians themselves helped design the event. They served as co-hosts and as speakers. In addition, several American experts described the importance of corporate governance in attracting investment.

Center for International Private Enterprise - CIPE teamed up with the OECD and the World Bank to co-sponsor a series of Corporate Governance Roundtables for Russia. A roundtable in Moscow on 24-25 February brought together more than 100 participants from Russia and the West. The conference focused on such issues as property rights enforcement, disclosure information, enforcement of minority shareholders rights, and preventing abusive self dealing. CIPE emphasized a grass-roots, regional approach. In one promising outcome, the Public Committee on Shareholders Rights in Voronezh has drafted a corporate governance charter, or code of conduct, based on the OECD's Corporate Governance Principles. The Voronezh grass-roots organization is now working with local companies to adopt this charter and introduce its principles into the real-life practices of their businesses. CIPE played the role of catalyst by sponsoring the participation of the organization's Chairman, Ilya Sokov, at the Moscow Roundtable -thus enhancing his understanding of OECD principles.

Latin America and the Caribbean

Center for International Private Enterprise - In Latin America, CIPE is building on its training experience, private sector networks, and past corporate governance programs in order to create greater openness and break collusive relationships between political and business cronies. A comprehensive curriculum focuses on issues of transparency and anti-corruption, moving beyond general principle discussions to offer advocacy and implementation strategies with special transition case studies from CIPE experiences around the world. CIPE will conduct a pilot training session in one country to encourage businesses to adhere to norms of transparency and accountability and to assume a leadership role in promoting democratic governance. This program will enhance public understanding of and support for the private sector's vital role in democracy and place governance issues on the policymaking agenda throughout Latin America and in other regions.

Confecamaras - In cooperation with CIPE and with the support of the National Endowment for Democracy, Confecámaras, is educating Colombian public and private stakeholders on sound principles of corporate governance. By engaging policymakers, businesspeople and academics, the initiative is formulating a Declaration of Corporate Governance Principles for Colombian business organizations. This Declaration and a comprehensive survey on business attitudes will seek to establish a set of ethical business practices in Colombia. Training programs, Web site development, publications, and other outreach activities will help disseminate the Declaration and reinforce the importance of corporate governance efforts throughout the Colombian business community. In addition, the project includes the continued work of Confecámaras to advance legislative recommendations on the stock market regulations proposed by the Stock Exchange Commission of Colombia. To date, Confecámaras' activities have contributed to legislative reform concerning shareholders' rights and equitable treatment, as well as conflict-of-interest issues, alternative dispute resolution methods, and board of director responsibilities.

Middle East

Federation of Egyptian Industries - CIPE and the Federation of Egyptian Industries, Egypt's largest business organization, brought together over 120 market players within Egypt to discuss corporate governance and the future of the country's economic and democratic development. They discussed in detail full disclosure of financial information; conflicts of interest involving boards of directors and managers; procedures for bankruptcy; property rights; contract enforcement; corruption and theft; and adopting good business practices.

Center for International Private Enterprise - CIPE is working with the Egyptian Capital Markets Association (ECMA) to roll-out a corporate governance program aimed at educating its members, the capital market community, senior management staff of publicly listed companies, and others about rules and practices of corporate governance, the dynamics and ethics of new trading instruments and regimes, and how corporate governance is essential to build a true market-oriented economy. The program will be launched on October 24, 2001 in Cairo with a conference "Corporate Governancy in Egypt: The Road Ahead" where 300 attendees are expected to attend, mostly senior representatives from the private sector (publicly listed companies, regulators, brokers, and dealers), public officials and some members of the media. Follow-up activities include workshops on specific issues, such as standards for transparency and disclosure; preparation and publishing of financial statements; corporate strategy and future plans; stakeholders interest (including minority rights) through good investor relations procedures, and press and media relations; defending and supporting company shares in the stock market; and how to attract good managers by creating stock option plans.

Global

Center for International Private Enterprise - As part of CIPE's commitment to foster inclusive decision-making, CIPE will participate in and bring representatives from developing nations to an OECD Policy Dialogue Meeting to be held in April 2001 concerning corporate governance in developing countries and emerging economies. The representatives of developing countries that CIPE bring to the Dialogue will be able to provide developing country feedback and practical commentary regarding advocacy strategies proposed by OECD researchers. They will share experiences among themselves and gain input from attendees from developed countries as they develop their projects. This global feedback loop is crucial in the larger sense of providing an inclusive process for developing strategies in international organizations which impact developing countries and has an immediate practical impact on local projects in progress.

Center for International Private Enterprise - CIPE, with the funding of the National Endowment for Democracy, is working to develop a distance learning training module on corporate governance. The project's main audience will be business association executives, private sector think tanks, media and general public. Informational content will be delivered via a web based distance learning program, chosen because of the advantages and ease of accessibility, flexibility in time and space, and efficiency. Participants will be able to learn the information at their own pace, customize the course content by selecting to investigate the issues that interest them, and interact with the instructor via e-mail, telephone, and the postal service to get the necessary feedback.

In Search of Good Directors: Corporate Boards in Market and Transition Economies
A timely publication now available in CIPE's online bookstore (http://www.cipe.org/bookstore) that addresses the issue of the role of directors and shareholders within a corporation and is a valuable resource for any company with a forward thinking strategy. In Search of Good Directors is the outgrowth of a CIPE program with the Central European University that was originally printed in 1994. However, due to an increased demand for information on corporate governance, CIPE has revised the original publication and added insights from the National Association of Corporate Directors and the Institutional Shareholders Services.