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Project Name: EBRD Register of Consultants for the Medium-sized Co-financing Facility (MCFF) Advisory Services in the Early Transition Countries
Assignment Description: A EUR 60 million Medium-sized Loan Co-financing Facility (the "MCFF" or the "Facility") was originally approved by the European Bank for Reconstruction and Development (the "EBRD" or the "Bank") on 30 September 2003 to provide finance from its own resources to local private companies in the Early Transition Countries. The ETCs are: Armenia, Azerbaijan, Georgia, Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan. Following the Facility’s successful launch in the ETCs, a EUR 75 million increase was approved by the Board on 4 October 2005, including a roll out of the programme in the Western Balkan countries (Albania, Bosnia and Herzegovina, FYR Macedonia, Montenegro, Serbia, inc. Kosovo).
Technical Co-operation ("TC") funds for supporting the MCFF in the Western Balkans will be provided through the EBRD Western Balkans Fund. A separate selection process will be undertaken to engage one consultancy firm under the Western Balkans funded portion. This procurement notice will cover only local Partner Banks ("PBs") operating in the ETCs.
The MCFF contributes to bridging financing gaps in the local markets by meeting the funding needs of medium-large sized private companies that have begun to outgrow the financial sector in the target countries. At the same time, it allows the Bank to transfer skills in project appraisal and financial structuring to the PBs through TC support.
The Financial Institution Business Group ("FI") intends to establish a register of qualified consultants to provide specific support focussed in strengthening PBs’ capacities in financing medium-large loans (as opposed to SME loans) rather than providing all encompassing long-term assistance. Detailed terms of reference specific to the needs of a particular PB will be provided for each individual assignment, and the Consultant will be required to submit a proposal.
For each individual assignment, the FI Operation team will screen the register and select a consultant in accordance with the EBRD’s Procurement Policies and Rules.
Services required:
The selected consultant for each assignment will provide assistance and training to the PBs in pursuing the following objectives:
- The credit process and credit portfolio management procedures in each PB continues to strengthen and that, wherever applicable, the credit procedures are brought in line with international standards and acceptable to EBRD;
- The business and credit analysis skills in each PB improve, in particular by adopting (if applicable) cash-flow based credit analysis as opposed to current collateral-based lending;
- The overall credit performance of each of the PBs continues to strengthen;
- All necessary due diligence on the borrowers and the projects under the MCFF are carried out, in accordance with best international practice and in line with EBRD standards;
- Business plans are appropriately reviewed, necessary projections are correctly prepared and financing is extended against cash flow rather than collateral only.
Assignments include:
- Reviewing the existing lending procedures and risk management for corporate/large loans and implement improvements as necessary to bring them in line with best international practice and EBRD standards;
- Assisting the PBs in adjusting their lending procedures, with special focus on medium-large loans and project finance transactions, and familiarisation with the documentary requirements set by the EBRD;
- Designing and implementing training on financial modelling for the credit officers of the PBs to allow the banks to participate effectively in the MCFF.
- Ensure that adequate environmental due diligence, in line with the EBRD's environmental procedures, is conducted for each loan approved under the Facility. If the PB is not an existing client of EBRD, the Consultant will assist, whenever applicable, in developing an environmental policy largely based on EBRD's Environmental Procedures for Intermediated Lending through Local Banks, with recommendations for relevant training, if needed.
Assignment Start Date and Duration: Individual assignments are expected to last up to 12 months and have an indicative budget of an average of EUR 50,000.
Maximum Budget available for the Assignment: In region of EUR 250,000; Exclusive of VAT.
The consultant must determine whether any VAT would be chargeable on the services and the basis for that determination, without taking into consideration the Bank’s special status as an IFI and state this to the Bank in their response to the Invitation for Expressions of Interest. To the extent that a consultant incurs input VAT on goods and services purchased in connection with the provision of services (e.g. VAT on airline ticket) which is not otherwise recoverable by the consultant from the local tax authority, the gross cost to the consultant of such expenses shall be treated as a reimbursable expense.
Funding Source: It is anticipated that the contract will be financed using funds made available through the ETC Multi-Donor Fund.
Eligibility: There are no eligibility restrictions.
Expert Profile:
Experts must demonstrate relevant qualifications, detailed knowledge of the financial sector and experience of providing advisory services in the following key areas:
(i) lending technology and procedures for corporate clients;
(ii) business and industry sector analysis;
(iii) loans monitoring;
(iv) credit training;
(v) financial analysis training and;
(vi) financial modelling.
In addition, the Consultant must have experience in similar assignments and working banking experience in emerging markets preferably in the Early Transition Countries, especially in respect of medium-large sized loans and project finance transactions and have experience in dealing with complex situations in challenging economic and business environments.
Knowledge of local language(s) would be desirable to be able to work and communicate with management effectively. If the consultant is not fluent in the local language(s), he/she will be required to demonstrate a track record of working effectively with an interpreter.
How to Register:
Interested firms and individuals wishing to register should complete in English the below mentioned forms and e-mail them to Carla Ciccantelli: ciccantc@ebrd.com and Ghislaine Danquin: danquing@ebrd.com.
Please note the following:
All firms and individuals must return the following documents:
- Cover letter/e-mail
- registration form
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- CV in the required format
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Failure to submit in the required format may result in rejection of a firm’s or individual’s application.
CVs should be detailed and include full descriptions of responsibilities carried out, not just a job title.
Consultants responding to this invitation are asked not to contact the Financial Institutions Team or the EBRD generally and to restrict their communication initially to the above e-mail addresses.
General:
Consulting firms (proposing individuals) and individuals may express interest in registering and may be registered at any time. There is no deadline for submission of registration forms. The first assignment in Armenia is expected to commence late January 2008. All consultants will be informed whether or not they are included on the register.
Inclusion on the register does not guarantee selection for any individual assignment.
The EBRD reserves the right to modify or withdraw the registration system described above for any reason and without prior notice. Registered firms and individuals will be promptly advised, however, of any such modification or withdrawal and of the system (if any) to be introduced to replace the current procedure.
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