The Bourse’s Boards of Directors approved the project launching Friday, December 21, BVB said in a statement.
The project is due to start in the first half of 2013 and should last for two years. The direct costs of the project, estimated at EUR296,000, will be paid by EBRD and co-financed by the Bourse.
In 2008, the bourse drafted a Code of Corporate Governance enforced to all the companies listed. This includes a set of recommendations that should be enforced according to “Enforce or Explain” mechanism.
EBRD will select a consultancy company to improve the corporate governance code, including by counseling the bourse in adopting and implementing the methodology. The consultant will develop and implement five training sessions for BVB and the listed companies.