 We are on our journey to understand corporate governance from an international perspective. Today, we are going to be talking about the World Bank and corporate governance. Now, again, ladies and gentlemen, what we are seeing in the past sessions is that we have stakeholders and then we have different type of stakeholders who have a very variable relationship with the internal stakeholders. And in the internal stakeholders, we have the shareholders, we have the board, we have the top management, the middle management, the shop floor management and also our other employees which are working in a particular organization. Now, again, from country to country, we see that there are different variances and there are different nuances. But more so, there are certain international organizations which play a very, very definitive and very important role. And one of them is the World Bank and, again, its array into the arena of corporate governance. Now, when we are looking at the World Bank and the World Bank report on corporate governance, it recognizes the complexity of the very concept of corporate governance and focuses on the principles on which it is based. So, again, the World Bank endorses corporate governance and its different principles and also looks at them in this particular context that they are the principles of transparency, of accountability, of fairness, responsibility and their universal application. So, what we see, ladies and gentlemen, is that these four fundamental guiding principles are the very core, the very essence, the very ethos of corporate governance. Now, when we look at transparency, then that transparency basically is achieved through dissemination of correct and truthful information. Secondly, we see accountability whereby, again, there is cross accountability and it can be both internal and external and this has to be done with fairness and visible fairness with a sense of responsibility. So, these four core principles form the essence of corporate governance and the intrusion of the World Bank into the arena of the corporate governance. Now, the stronger the partnership between the public and private sectors, the more soundly based will be their corporate governance and then equally, the report also emphasizes that governance initiatives must garner support when driven from the bottom up rather than from the top down. So, again, the World Bank is looking at this relationship that it should not be a top down relationship. Actually, it should be a bottom up relationship so that all of the segments and all of the stakeholders within the organization can perform in a better way and can also share their experiences, voice their concerns and look at merit, transparency, accountability and a better work environment which is conducive for everyone. So, again, when we look at the adoption of the proposed proposals, it offers enterprises everywhere the chance to gain their share of potentially available funds for investment. So, again, the World Bank being one of the most powerful financiers at a global level is also looking at the aspects of how the funds can be trickled down the lowest year and therefore make them potentially investment conducive and also the fact that everyone gets a chance to gain those resources to conduct their own businesses. The balance between economic and social goals and between individual and communal goals, the efficient use of resources and to require accountability for the stewardship of these resources. So, just like we've been talking about previously, the World Bank is also concerned about transparency, about accountability and about having a conducive environment. Now, this tripartite relationship actually enables the organization to function in a better way, to create a strong bond of trust internally and externally and then most importantly also ensure that the sustainability of the organization is maintained and ensured from a more holistic point of view. So, again, the internationally accepted governor's standards is that they will help them to achieve their corporate aims and to attract investment. So, at a result of all of that and that proper structure, proper manualization, what happens is, is that direct foreign investment tends to increase and that basically means that the industry can start working in a better way, thereby creating jobs for the youth and also for those individuals who are looking for opportunities to basically grow. So, all of this becomes extremely important. The incentive adoption of the principles by states is that they will strengthen their economies and discourage fraud and management. OpenS is the basis of public confidence in the corporate system. So, again, giving a voice, having a voice, negating voicelessness and most importantly ensuring that we have this openness whereby we can make it result in public confidence in the corporate system. So, that is extremely important, ladies and gentlemen. Then funds will flow to those centers of economic activity which inspire trust. The World Bank report points the way to the establishment of trust and the encouragement of the enterprise. So, again, ladies and gentlemen, what we see is that all of this revolves around the very apostolation of trust and encouraging small and medium enterprises to do business in a better way rather than having a cloistered approach which can be suffocating and can lead to the collapse of the economic system. So, again, ladies and gentlemen, it is very important that the World Bank plays a major role and through its role it ensures that there is more dissemination of awareness and there is more dissemination of loans to the needy, the destitute, the marginalized, the underprivileged and the unemployed and that is the most important thing which organizations have to do to ensure that they practice good governance and corporate governance together. Thank you so much.