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Partnership Fund to Ban Funding of the Offshore Registered Entities

Partnership Fund to Ban Funding of the Offshore Registered Entities

Transparency International – Georgia” publishes the recommendations for the “Partnership Fund” and writes that it is necessary to be given a detailed information concerning about all the projects.

“Transparency International – Georgia” believes that:

It is necessary, on the web site of the “Partnership Fund” to be given a detailed information about all the projects and future plans;

Additional regulations should be set in terms of the protects “The Partnership Fund” finances.

In particular, it would be better if the law will be prohibited in case the “Partnership Fund” funds to legal entities that are in the offshore zones.

Also the regulations will be set to those legal entities when their shares or stocks are directly or indirectly owned by offshore-registered entity;