BAKU, Azerbaijan, October 27
By Tamilla Mammadova – Trend:
The joint project of the World Bank and the European Union for Financial Inclusion and Accountability in Georgia is announcing a competition in cooperation with the National Reforms Support Foundation (RSF), Trend reports via Georgian media.
The annual competition aims to improve the quality of reporting and transparency.
The competition was held in Georgia for the first time last year, and this year, unlike in 2019, it will be open to all persons of public interest, including all companies of A and B listing categories, including commercial firms, banks, insurance companies, and others.
The National Bank of Georgia (NBG) states that reliable information about companies is essential for achieving sustainable economic growth. Salome Skhirtladze, Head of the NBG Capital Market Department, explains that increasing transparency will attract investment.
"The purpose of the World Bank competition is to provide some incentive to the market to further refine the publicity and quality of corporate information, both in financial parts and in the annual report, which discloses company information, including corporate governance, business risks, and strategies," Skhirtladze said.
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