Concrete achievements
from Marek Hessel small grants:
Through a competitive process, CIPE has awarded six grants
of up to $25,000 to establish local working group projects and build corporate
governance capacities in the participant countries in Central
and Eastern Europe and Eurasia. Accomplishments to date include
the following:
- Gdansk Institute of Market Economics
(Poland), "Shareholder Rights" - GIME
has developed a Code of Corporate Governance based on research
of the key weaknesses of the corporate governance system
in Poland. GIME has also developed a Corporate Governance
Rating System for local companies, based on the principles
of the best practices Code. Additionally, GIME has set up
the Polish Corporate Governance Forum to more effectively
channel reform efforts in this area.
- Center for Economic Development
(Bulgaria), "Executive CG Training" -
CED has assessed existing board structures and governance
processes in Bulgarian public companies and is promoting
the implementation of modern standards for corporate directorship.
CED has produced a number of documents which will prove
useful to the business community and a broad spectrum of
stakeholders to understand and advocate for corporate governance
reform in Bulgaria. These include: Modern Characteristics
of Boards in Joint Stock Companies in Bulgaria- a comparative
analysis of the main elements of best boardroom practice
that have emerged over the past several decades and will
shape effective boards in the future; Draft Principles
for a Bulgarian Corporate Governance Code- recommendations
and measures for boardroom practice improvement that are
relevant to Bulgaria's business environment.
- Albanian Center for Economic Research
(Albania), "Journalist CG Training" -
ACER managed a national-level training program for 130 local
journalists and corporate governance stakeholders to promote
the understanding and implementation of corporate governance
principles among businesses and the media. A network of
stakeholders which supports these principles, and can serve
as future reform advocacy channels, has also been set up.
- Ryazan Chamber of Commerce (Russia),
"Building Local Awareness" - The Ryazan
Chamber has set up an umbrella council consisting of shareholders
and stakeholders to design regional corporate governance
standards. Accomplishments to date include building awareness
of governance issues through several local seminars and
a regional conference on "The Federal Code and Regional
Standards of Corporate Management"; and the operation
of a corporate governance hotline, through which Ryazan
Chamber experts provide consultation on topics ranging from
Board of Directors issues to shareholders' rights to access
to information. The hotline has this year received an average
of 3 to 4 calls per day.
- Ukrainian Assoc. of Investment
Business (Ukraine), "CG Awareness Campaign"
- UAIB has created an association for Ukrainian business
NGOs playing key roles in the development of private and
privatized enterprises. UAIB has disseminated information
on corporate governance to these groups, and developed recommendations
for a national corporate governance program. UAIB has also
conducted a National Corporate Governance Study to address
the key issues of protection of investor's rights in the
major Ukrainian joint stock companies.
- Tashkent Business Club (Uzbekistan),
"Business Community CG Outreach" - TBC
built a coalition of specialists, reform-oriented government
leaders, business leaders, and journalists committed to
make Uzbek companies more attractive for foreign investment.
TBC is developing corporate governance standards for legal
implementation; and has also pulled together a database
of enterprises as part of their effort to broaden the strategic
partnership with business practitioners for completing corporate
governance due diligence in Uzbekistan.
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