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Development finance institutions launch emerging markets corporate governance framework

$852bn investor group in governance initiative

More than 25 development finance institutions (DFIs), representing assets of around $852bn (€633bn), have adopted a common set of corporate governance guidelines to support sustainable economic development in emerging markets.
Signatories cover most emerging markets around the world, including Africa, Latin America and the Caribbean, Asia, Middle East, and Eastern and Southern Europe.
The signatories hope the new Corporate Governance Development Framework will lead to improved coordination, transparency, accountability and corporate governance.

The framework will signatories to evaluate the corporate governance risks and opportunities of the companies they invest in – although they are expected to implement it “at their own pace and at a level that suits their institutions”.

The institutions that sign up will have to:

  • Integrate corporate governance in its investment operations, including conducting corporate governance assessments of investment clients
  • Identify staff responsible for implementation and oversight of the Framework.
  • Collaborate with other signatories
  • Report annually on implementation*Signatories*
    Afreximbank The African Export-Import Bank

AfDB The African Development Bank Group

ADB The Asian Development Bank

Bancoldex Colombian development and Ex-Im bank.

BICE Argentina’s Investment and Foreign Trade Bank

BIO Belgium’s DFI

BSTDB Black Sea Trade and Development Bank

CAF Latin American development bank

CDC UK’s Commonwealth Development Corp.
COFIDES Spanish institution

DBSA Development Bank of Southern Africa

DEG Member of KfW Bankengruppe

EBRD European Bank for Reconstruction and Development

EIB European Investment Bank

FINNFUND Finnish development finance company

FMO Netherlands Development Finance Company

IsDB Islamic Development Bank

IFC World Bank’s Interntional Finance Corp.

IFU-IØ Denmark’s Industrialisation Fund for Developing Countries

IIC Member of the Inter-American Development Bank (IDB) Group.

Norfund Norwegian governnametn fund

OeEB Austria’s Oesterreichische Entwicklungsbank

PROPARCO – France’s Société de Promotion et de Participation pour la Coopération Economique

PTA Bank Eastern and Southern African Trade and Development Bank

SBIBMI Belgian semi-public investment company

SIFEM The Swiss Investment Fund for Emerging Markets

SOFID Portugal’s Sociedade para o Financiamento do Desenvolvimento, Instituição Financeira de Crédito

Swedfund Swedish institution