The International Finance Corporation, the private sector investment arm of the World Bank Group, is working to bring business schools together with institutions in the emerging markets.

"Business education is something that's totally outside the radar screen of most foundations and certainly the bilateral aid agencies," says Guy Pfefferman, director of the IFC's Global Business School Network (GBSN).

In Ghana, for example, the GBSN will assist the Ghana Institute of Management and Public Administration in developing MBA course modules as well as helping it raise the general quality of its programme through international accreditation