One IFC in Practice

Abstract

The Azerbaijan Corporate Governance Project (ACGP) worked to improve corporate governance practices in Azerbaijani companies and commercial banks, and to strengthen the relevant regulatory framework for corporate governance. The project achieved strong development impact and is an example of how the work that the advisory services business lines do can lead to an investment opportunity for International Finance Corporation (IFC). It is also an excellent example of the strength in leveraging global-local partnerships, and of a collaborative use of different advisory services products. Covering the full spectrum of corporate governance services offered by IFC, in many ways the model of joint work under this project has been used in designing and implementing future corporate governance projects. Every success comes through overcoming certain challenges, and this project was no exception. The authors were working in a situation where one donor funded two separate corporate governance projects in one country. In this smart lesson the authors share the lessons that we learned in finding solutions in order to work together efficiently, including several parts of IFC working with one particular client company. For more publications on IFC Sustainability please visit www.ifc.org/sustainabilitypublications.