Russian Federation: Assistance to infrastructure Public Private Partnerships ("PPP") Projects - Financial Advice
EBRD Shareholder Special Fund
Type of contract
Type of notice
Invitation for Expressions of Interest
13 Feb 2009
20 Mar 2009
Assignment Description: Recent experience in Russia demonstrates that project preparation has been a key bottleneck in using the PPP model for infrastructure development. To support the local authorities efforts and spread international best practices, the Bank proposes to set up a pre-selected panel of firms in financial advising services that will be used to develop and support key projects. Two other similar panels are proposed in legal advice and in traffic and technical advice.
The selected firms or consortia will constitute a shortlist from which the relevant Russian authorities will select and engage consultants according to the EBRD Procurement rules. The applicable selection method will depend on the size of the identified assignments (the "Assignments")
It is anticipated the following range of tasks may be included in the Assignments:
a) During the preliminary stage
- provide advise for applying best financial international practice to PPP projects in Russia;
- confirm financial viability of projects by performing a preliminary financial risk assessment and developing a business plan (financial model);
- analyse, review and advise on tariff policy, assumptions (tariff structure, level, process and basis for adjustment);
- advise and assist in preparing the recommendations for the choice of PPP scheme to be applied for a specific projects (real toll concession, availability payment scheme, leasing);
b) During the project preparation phase
- advise on the draft financial structure of a PPP project in order to optimise the project business plan;
- in consultation with the traffic and technical adviser, analyse and confirm the adequateness of business plan for the project;
- review working capital assumptions (inventory, accounts receivable, accounts payable);
- identify key factors influencing the costs of the project and assess whether sufficient contingencies are included;
- review the tax assumptions and provisions;
- advise on how to adapt best international practice into PPP project preparation, in compliance with Russian laws and regulations (at the federal and local level), taking into account the specific of the Russian banking environment and Russian financial markets;
- provide recommendations in order to reach a fair and bankable balance of risks between the public and the private sector, by analysing draft PPP contracts, type/quality of the provided guarantees, and by commenting the financial clauses of PPP contracts (termination provisions, penalty system, buy back, profit sharing clause);
c) During the tender process
- ensure that stakeholders involved in the project have a good understanding of what are financial means and constraints for the project;
- advise and assist in the analysis of the pre-qualification applications, and;
- advise and assist the concerned public authorities during the selection and negotiation process;
Assignment Duration: It is anticipated that selection and engagements from the panel will start in April 2009 for a period of 20 months. This period may be extended subject to satisfactory performance of the services and availability of funding.
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 purhcased 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 contracts will be financed through the EBRD Special Shareholders Fund.
Eligibility: There are no eligibility restriction.
- international experience in infrastructure PPP projects and structures that reached financial closure/negotiation and implementation;
- experience in supporting public authorities or private sector (lenders and/or private investors) throughout PPP project implementation process (preparation stage, tendering process);
- knowledge of the existing Russian PPP legal framework;
- experience of the Russian financial, fiscal and accounting environment;
- knowledge of the process of the various investment vehicle and programs of the Russian Federation available to finance the infrastructure projects;
- experience of working in Russia will be considered an advantage;
- fluency in Russian language will be considered an advantage.
Submission Requirements: Interested consultants are hereby invited to submit expressions of interest.
In order to determine the qualifications and competence of consulting firms seeking to be shortlisted, the information submitted should include the following:
- Details of experience or similar assignments undertaken in the previous five years, including their locations and the company�s role. Details on project (nature of the infrastructure, costs of the project, outcome of the tender);
- CVs of staff who will be available to work on the Assignments.
The above information should not exceed 40 pages excluding CVs (no more than 2 pages per person).
Expressions of Interest should be submitted, in English, electronically through eSelection and Not to the e-mail address mentioned below.
Note: Selection and contracting will normally be