TC Programme – SOEs Management Assistance Reform and Transformation (SMART)

Overview
Project Summary Document

TCRS 16912

Status Approved

Location

Regional

Business Sector

Legal Reform

Notice Type

State

PSD Disclosed

23 Mar 2026

Project Description

The Bank has been investing on average in 50-60 transactions related to state-owned enterprises (SOEs) per year, other through sovereign operations or through lending directly to SOEs. Although SOE transactions are less significant by number, they tend to be of higher value and have structural importance for EBRD economies. This makes EBRD investments - when coupled with well-structured policy dialogue component - a powerful vehicle for driving transition towards better governed and more competitive economies.

Enquiries

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

TCRS 16912

Status Approved

Location

Regional

Business Sector

Legal Reform

Notice Type

State

PSD Disclosed

23 Mar 2026

Project Description

Competitiveness and Economic Governance and Legal Transition Team have been supporting the Banking teams in developing transition impact and reform agendas for SOE transactions as well as broader policy dialogue initiatives to drive reform of the SOE governance and sector regulation. This enabled both teams to develop and test significantly a set of standardized policy products that could be scaled effectively across the sovereign investment portfolio.

SOEs Management Assistance Reform and Transformation (SMART) TC Programme was established to address the increasing need from Banking teams for swift assistance from policy teams in delivering systematized, tailored and comprehensive policy offer for SOEs. The Programme enables CEG and LTT policy teams to quickly set up and scale a set of predefined key TC policy products and tools linked to SOE investments and wider sector reforms in order to meet the demand, thus strengthening transaction-linked policy engagements to address economic governance bottlenecks in sectors with significant state presence across all countries of operation.

The SMART Programme is structured around four complementary policy support pillars: (i) Policy advisory and advocacy; (ii) Company and institution transformation; (iii) Cross-cutting programme and capacity delivery activities; and (iv) Country platforms.

Through identified products the EBRD will be able to provide comprehensive support to its sovereign and SOE clients, including via policy formulation/institutional design, legislative/regulatory drafting, sector reform implementation and embedded experts’ support. The programme is expected to focus on infrastructure related sectors, including energy, transport and municipal services, but can be extended to other sectors. It will positively contribute to well-governed, resilient and competitive transition qualities.

To address the strategic priorities and scope under the components above a standardised terms of reference (ToR) was developed to cover priority sector reform and governance improvement measures. The final ToR for any assignment will follow the standardised ToRs. The exact number and combination of tasks and level of detailing to cover four strategic components to be included in any final ToR depends on the needs identified by the responsible EBRD OL, in collaboration with the client. An assignment may combine components from different pillars. CEG and LTT teams have received Grant Unit approval for Delegated Authority to approve and contract each assignment in line with the defined tasks within the standardised ToR and the estimated budget. The assignments can be transactional or non-transactional, depending on whether they support a specific investment project or not. All assignments shall be approved under delegated authority subject to relevant internal management approvals.

Given the average yearly number of SOE transactions, it is expected that between 15-25 technical cooperation assignments will be non-transactional, and for those, detailed Project Summary Descriptions (PSDs) will be prepared and published in line with Access to Information Policy and its supplementary sub-policy document – the Directive on Access to Information, Procurement of consultancy services for individual assignments under the SMART Programme will be carried out in line with relevant provisions of EBRD Procurement Policies and Rules.

Procurement Enquiries

Any competitive selections for business opportunities relating to this project will be published on the EBRD's website: Consultancy Procurement Opportunities.

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2025. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the Information Request form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy 2024 or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism page to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

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TC Programme – SOEs Management Assistance Reform and Transformation (SMART)

Project Description

Enquiries

Business opportunities

General enquiries

Project Description

Procurement Enquiries

General enquiries

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)