DUSHANBE, October 1, 2011, Asia-Plus – International Finance Corporation (IFC) has launched a training series in Tajikistan and Kyrgyzstan designed to bolster corporate governance, a project that will help firms improve operations and make it easier for them to access financing, press release issued by IFC on September 29 said.
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, 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.
“This was an extremely valuable workshop,” said Gulnara Uskenbayeva, head of the Association of Accountants and Auditors in Kyrgyzstan. “It re-enforced the importance of sound corporate governance, which is critical for companies to grow and thrive. I will definitely use IFC”s methodology in the future.”
“Good corporate governance is the foundation for any successful company. In Tajikistan and Kyrgyzstan, 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.” Sergii Tryputen, IFC Project Manager, said.
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.
