The U.S. Agency for International Development (USAID) has just awarded a $500,000 grant to CIPE to promote corporate governance in the transitional economies of Central and Eastern Europe and Eurasia. The grant will be used to work with host countries and the private sector to develop local business associations, think tanks, and other activities designed to encourage sound business practices.
In awarding the grant, J. Brady Anderson, USAID's Administrator, noted, "One way to foster economic reform in transitional economies is to develop higher standards of transparency, accountability, fairness and responsibility in the commercial sector. That means such things as having a strong Board of Directors, regulations on shareholder rights, and accepted standards for financial accountability and transparency. These rules and procedures are essential for the development of a competitive commercial sector in today's global economy."
This is USAID's most recent grant to CIPE. In recent years, CIPE has received such grants to support democracy and market opening reforms, entrepreneurship, corporate governance, and anti-corruption initiatives.