IFC assists Kyrgyzstan and Tajikistan to strengthen corporate governance
Azerbaijan , Baku, Sept. 30 / Trend , G.Dadashova /
IFC, a member of the World Bank Group, is training business consultants in the Kyrgyz Republic and Tajikistan on ways to improve corporate governance at the companies they advise, a project that will help firms improve operations and make it easier for them to access financing, IFC reported.
Under a recently launched training series, members of local consulting firms received training in IFC's Corporate Governance Methodology, a unique tool used around the world to help companies and financial institutions evaluate corporate governance risks and opportunities. The training took place in Dushanbe and Bishkek this week, focusing on board effectiveness, management control functions, and disclosure practices. Consultants are expected to apply those lessons to their work with clients, helping firms expand, improve operations, and create jobs.
"Good corporate governance is the foundation for any successful company," IFC Project Manager Sergii Tryputen said "In the Kyrgyz Republic and Tajikistan, our aim is to build the capacity of local consulting firms to help companies improve corporate governance, which will open up new opportunities for financing. In turn, that will help drive economic growth in both nations."
The training is part of IFC's Central Asia Corporate Governance Project, which is implemented in partnership with the United Kingdom's Department for International Development. The project helps local joint stock companies and banks strengthen their corporate governance practices to increase their ability to attract financing and manage risks.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets