Niko Gagua, Vice Governor of the National Bank of Georgia, took part in the Best Annual Report and Transparency Award (BARTA) ceremony. Held every year since 2019, the event was established with the financial involvement of the European Union and the World Bank and within the framework of the joint accountability project, in partnership with the Georgian Accounting Reform Beneficiaries Fund. The annual award serves to encourage sound competition between companies and raise the overall standard of corporate reporting, while helping enhance Georgia’s attractiveness for investors both locally and internationally.

 

Niko Gagua spoke about the importance of BARTA award as he opened the award ceremony, focusing on BARTA's special contribution to establishing a high standard of transparency in Georgia.

 

"Enhancing transparency in companies is crucial, and I am glad that the National Bank of Georgia has done its share this. It is pleasing that year after year the number of companies participating in the competition increases, and so does the degree of their transparency. Mutual efforts help establish a high standard of transparency in Georgia, to which BARTA makes a special contribution. That is why I would like to express my special thanks to the organizers, partners and parties involved in the project. BARTA can be considered a step forward in terms of sustainable development of our country. When it comes to financial markets and ethical relationships, the standard of transparency of companies is key for a high degree of trust. A company whose financial and management reporting clearly conveys their visions, goals, risk assessment and internal policies, sparks investor confidence and client loyalty," said Niko Gagua.

 

Representatives of local and international companies, regulatory authorities, consulting and auditing firms and journalists attended the event. The guests were also addressed by Sebastian Molyneux, Regional Director of the World Bank in the South Caucasus, and Katalin German, Acting Head of the European Union Cooperation and Aid Programs Department.