The private sector arm of the World Bank Group and the Reuters Foundation will jointly develop a training programme and a toolkit for journalists who report on corporate governance issues.

The IFC Global Corporate Governance Forum has signed an agreement with the Reuters Foundation to encourage these journalists and help them report on governance more effectively, the two organisations said.

The project would comprise two series of workshops based on presentations, case studies, exercises, and discussions with corporate governance stakeholders and institutions.

Initially, southern Europe, West Asia and North Africa would be targeted with subsequent workshops planned for Africa, Asia, and Latin America and the Caribbean.

The project includes sharing publications, tools, and lessons

learned, drawing on the expertise of IFC and Reuters.

The workshop materials would be shared with other media professionals beyond those participating in the programme, the announcement said.

"The media's role in raising public awareness of corporate governance issues is critical in fostering good corporate governance practices worldwide," IFC Director for Corporate Governance and Capital Markets Teresa Barger said.

"Reporting on these issues promotes awareness of best practices. The media is often quicker than regulatory bodies in identifying lapses, and is also a key agent in building general support for good corporate governance, disseminating information regarding better corporate governance, and supporting enforcement," he added.

The project would hold its first workshop in Belgrade in October 2007.