International Finance Corporation takes "Corporate Management in Russia" project off the ground

The International Finance Corporation /IFC/ is taking off the ground the project "Corporate Management in Russia" in Samara /the Volga area/, project manager Sebastian Molineus said at a press conference.

In his words, this project has been realised since April 2001 within the programme of technical assistance to the countries of developing economy. It is aimed at attracting more investments in Russian enterprises and providing them with access to the financial capital, including the foreign capital, by means of upgrading methods of corporate management.

The project will be implemented in four regions of Russia. In St. Petersburg the company opened its office in December 2001. Besides, its has offices in Samara, Yekaterinburg /the Urals/ and Rostov-on-Don /the North Caucasus/. Joint-stock companies to receive training in corporate management at seminars and consultations will be selected on the basis of questionnaires and analysis of their current corporate practice.

The project envisages assistance to state structures in upgrading legislation and development of educational programmes for managers' training, together with universities.

Sebastian Molineus remarked that the IFC, the Swiss and Dutch governments would allocate roughly $2-3 million for the project implementation.