Improving Corporate Governance in Trinidad and Tobago
The project aims to address excessive risk to the economy due to the non-transparency of public and private publicly-listed companies by increasing understanding of and compliance with current legislation that governs the business environment. The overarching goal is the eventual creation of ethical, non-corrupt business environments which fosters business integrity and results in a competitive and stable economy. Components include:
1. Develop `Plain English¿ Version of Legislation and Electronic Educational Materials ¿ Covering such topics as ethics, induction guidelines for new directors, frequently asked questions, and instructive guide for implementation of guidelines (including standard board performance management, compliance and regulatory frameworks); utilising website access to video materials, electronic booklets, podcasts and Blackberry applications;
2. CEO/Directors/Senior Management Training Workshops ¿ To introduce the electronic educational materials and engage in training/sensitization about the value of improved corporate governance to business practices. Approximately 100 large public interest groups will be targeted for participation, these include publicly traded companies, state enterprises etc.
4. Awareness Workshops- 1-2 sessions geared towards members of the media and civil society to enhance their understanding of the legal framework that governs the private sector and their rights as citizens. 2-3 sessions will also be devoted to enhancing governance practices in SMEs specifically focusing on family run enterprises
5. Monitoring and Evaluation of Implementation of Guidelines ¿ Baseline and post-project electronic surveys to assess effectiveness of the project.

Project Detail

Country

Trinidad and Tobago

Project Number

TT-M1025

Approval Date

June 2, 2011

Project Status

Closed

Project Type

Technical Cooperation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

MARKET DEVELOPMENT AND FUNCTIONING

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

Category C: Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 211,000.00

Country Counterpart Financing

USD 66,000.00

Original Amount Approved

USD 145,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/ME-12783-TT Non-Sovereign Guaranteed USD - United States Dollar Multilateral Investment Fund II (MIF) - Nonreimbursable
Operation Number ATN/ME-12783-TT
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Multilateral Investment Fund II (MIF) -
  • Financial Instrument: Nonreimbursable