n Development Finance Agenda (DEFA) - Asia-Pacific DFis and corporate governance self-assessment : key to institutional strengthening & financial system stability
|Article Title||Asia-Pacific DFis and corporate governance self-assessment : key to institutional strengthening & financial system stability|
|© Publisher:||Chartered Institute of Development Finance (CIDEF)|
|Journal||Development Finance Agenda (DEFA)|
|Affiliations||1 Association of Development Financing Institutions in Asia and the Pacific|
|Publication Date||Jan 2015|
|Pages||10 - 12|
Development finance institutions (DFIs) or interchangeably referred to as development banks, are national policy instruments of government that act as catalysts in capital mobilization, fill the gap in the financial system and performs a countercyclical role in difficult economic times. Continuously enhancing their operational capability and improving governance structure and processes are essential to the DFIs' longterm sustainability. This paper narrates the experience of the 131-member, 45-country Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in its aim to contribute to the sustainable development of the Asia-Pacific region through the institutionalization of good governance systems and practice in DFIs. In ADFIAP's perspective, a self-assessment of its member-banks' corporate governance policies and practices through its two instruments, namely, the Corporate Governance Rating System and the Checklist of Indicators of the Quality of Corporate Governance of Corporate Borrowers is a good first step in strengthening the institutional governance framework of DFIs and other financial institutions.
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