ETC SME Local Currency Programme Technical Cooperation Framework - Advise and Assist with Legal and Regulatory Reforms in Central Asia

Project ID: 69054

Project and assignment title: ETC SME Local Currency Programme Technical Cooperation Framework - Advise and Assist with Legal and Regulatory Reforms in Central Asia

Contract description: To assist and support EBRD with the implementation of activities aimed at the legal and regulatory reforms in Mongolia, Kyrgyzstan and Tajikistan (“Specified COOs”) to foster necessary changes to local capital market laws and other legal and regulatory structures to facilitate local capital market development and currency funding. The expected outcome of the Assignment is:

(i) an assessment of the relevant capital market laws; and

(ii) finalised drafts of legal and regulatory frameworks for capital market activities and instruments in each country. This outcome is to be achieved in cooperation with the Legal Project Manager advertised separately under Procurement ID 69053.

To design in cooperation with the Legal Project Manager and carry out a diagnostic assessment in each of the Specified COO and write recommendations for any follow up work under the scope of this assignment, focusing on relevant and needed legal reforms focusing on the following:

• reforming the legal and regulatory environment to support capital markets activities, instruments and infrastructure – as specified in the recommendations of the assessments and agreed with the Legal Project Manager and EBRD;
• developing/encouraging/promoting appropriate capital market products/instruments and programmes ( e.g. in respect of bonds issued by local and international corporate and financial institutions, as well as Multinational Development Banks (“MDBs”), repos, derivatives (FX and interest rate swaps), equity listing support for SME’s and, potentially, simple securitisation and covered bond structures)

Duration: 12 months