A culture of Corporate Governance for Peru

(Lima, May 12^th, 2014).- CAF, Development Bank of Latin America, signed a technical cooperation agreement with the Association of Companies that Promote Capital Markets (Procapitales, for its acronym in Spanish), in order to carry out the Dissemination Program for the Code of Good Corporate Governance for Peruvian Companies. 

The agreement was signed by CAF's Director Representative in Peru, Eleonora Silva Pardo, and Julio Alcazar Uzcategui, the President of the Board of Directors at Procapitales. 

Silva Pardo highlighted that the objective of the project is to generate knowledge regarding the content and scope of the Code of Good Corporate Governance for Peruvian Companies as a key tool to guide the processes to adhere to the principles of good corporate governance within the country's entrepreneurial sector, as well as contribute to generate a culture of Corporate Governance. 

This program will enable the development of training courses, seminars, fora, as well as editing publications that allow for the dissemination of the Code's scope, published in November 2013, to promote adhesion to the principles in the publication, and implement best practices of good corporate governance in the private entrepreneurial sector. 

CAF's Director Representative highlighted that the objective of these initiatives is to promote the analysis and discussion of the Code at an entrepreneurial level in Peru, train different market agents to understand the concepts and principles found in the publication, and promote the generation of local skills in order to expand and copy the dissemination of the publication in the regions of the country. 

She also pointed out that, "in alliance with Procapitales, we also seek to expand the number of companies that issue values in capital markets, and prepare these companies that issue values related to corporate governance, to better position them to take advantage of the opportunities offered by  the Latin American Integrated Market (MILA, for its acronym in Spanish), and the  Pacific Alliance".