Launch of Bulgarian Corporate Governance Code, Sofia, Bulgaria.

October 9, 2007

Please find here the final Bulgarian Corporate Governance Code in Bulgarian and English.

The first Code task force meeting was convened on September 29 and reviewed the objectives and the scope of the Code, task force working procedures and the action plan moving forward. Click here to access the agenda. The Task Force is chaired by Ms Bistra Ilkova- CEO of the Bulgarian Stock Exchange and Professor Bistra Boeva from the Center for Corporate Governance. Composed of private sector leaders, policy makers, regulators and academics, the task force meets on a monthly basis until the Code is launched. Click here to review the task force members.

Click here to access the indicative action plan for the development of the code. Once adopted, the Code is expected to be enforced through a “comply or explain” mechanism and appropriate reform measures in line with the European Commission’s recommendations.

The Global Corporate Governance Forum serves as a catalyst for reform efforts and as a technical advisor in this process. The Forum helps the task force review best practices as well as assess the country’s corporate governance reform needs. The Forum’s technical assistance is based on its toolkit on Developing Corporate Governance Codes.

At each of the task force meetings the Forum invites an international expert relevant to the discussions at hand to inform the debate and share best practices.

In addition, participating international experts as well as members of the IFC-GCGF Code Peer Review Group will be asked to review the final draft code prior to its publication and launch. Click here to review an indicative list of international advisors to the Code task force.

For further details on this project contact Marie-Laurence Guy at Mguy@ifc.org