Luxembourg, 26/10/2007 (Agence Europe) - In Washington on 19 October, various development finance institutions (DFIs), including the European Investment Bank (EIB) signed an approach statement on corporate governance in emerging markets.
The joint statement, signed by the leaders of 31 development finance institutions, puts corporate governance at the forefront of their sustainable development agenda in emerging markets. This initiative highlights the increased role of good corporate governance as a facilitator of international capital flows to emerging market companies. By signing the statement, the EIB recognises not only the importance of good corporate governance practices for sustainable economic development, but also the critical role that DFIs can play in their promotion in emerging markets at both the private and public sector level. This will be done by developing and adopting guidelines, policies and procedures at an individual DFI level and then by collaborating with other DFIs to support the cause of good corporate governance. (O.L.)