Adviser for the Macroeconomic and Socioeconomic Tender - 33540454

Procurement Summary

Country: Greece

Summary: Adviser for the Macroeconomic and Socioeconomic Impact Study of the Privatization Program of the Hellenic Republic

Deadline: 21 Jun 2019

Posting Date: 07 Jun 2019

Other Information

Notice Type: Tender

TOT Ref.No.: 33540454

Document Ref. No.:

Competition: ICB

Financier: Coalition for Epidemic Preparedness Innovations (CEPI)

Purchaser Ownership: -

Tender Value: Refer Document

CPV Classification

79600000 - Recruitment services

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Tender Details

Tenders are invited for Adviser to the Hellenic Republic Asset Development Fund (HRADF) for the Macroeconomic and Socioeconomic Impact Study of the Privatization Program of the Hellenic Republic.
1. Introduction
The Hellenic Republic Asset Development Fund S.A. (“HRADF” or the “Fund”) is the legal entity entrusted with the implementation of the Privatization Program of the Hellenic Republic (“HR”).
HRADF is established by and is operating under Law 3986/2011, with the sole objective of developing assets belonging to the HR. Pursuant to article 188 par. 1 of Law 4389/2016, HRADF is a direct subsidiary of the “Hellenic Corporation of Assets and Participations S.A.” (“HCAP”).
The HRADF is seeking to engage a specialized and highly experienced Adviser (the “Adviser”) to conduct a study, and prepare and submit a report (“the “Report” or the “Assignment”) that will, significantly, define, measure and depict:
A. the contribution of HRADF to the Greek economy, in particular, the impact of the Privatization Program on fiscal consolidation, investment, GDP growth and job creation from 2011 until present.
B. The relative impact to the Greek Economy of the privatization of the following Assets and Asset Classes:
- The Piraeus Port Authority S.A.: a share sale transaction concluded in 2016,
- 14 Regional Greek Airports: a transaction concluded in 2017 via a long-term concession agreement,
- The Astir Palas Vouliagmenis S.A.: a share sale transaction jointly concluded with the National Bank of Greece in 2016 relating to the Astir Vouliagmenis resort complex,
- TRAINOSE S.A. (Greek train operating company), a share sale transaction concluded in 2017,
- Regional Greek Ports: upcoming privatizations via long term sub-concession agreements of port activities
In the context above, interested parties (the “Interested Parties”) are invited to submit a proposal (the “Proposal”) in accordance with the terms of this Request for Proposals (the “RfP”). The tender process (the “Tender Process” or the “Tender”) for the award of the services procured shall be conducted in accordance with HRADF-s Procurement Regulation (Decision of the Minister of Finance nr. 2/16128/0025, Government Gazette B/476/2014) (the “Procurement Regulation”). An engagement letter (the “Engagement Letter”) shall be signed between HRADF and the Interested Party that is selected through the Tender.
2. Scope of Work & Metrics

Using appropriate and well-established economic models, the Adviser is, inter alia, expected to

measure, quantify and present the Direct, Indirect and Total Impact of the Privatization Program

(per 1.A above) and of the Assets/Asset Classes (per 1.B above) to the Greek Economy in terms

of key economic indicators (e.g. fiscal revenues, gross fixed capital formation, GDP, employment,

etc.), at the national and, where applicable, regional levels (Nomenclature of Territorial Units for

Statistics / Nomenclature des unités territoriales statistiques - NUTS 3 regions).

2.1 The effects that should be considered indicatively include, the:

1. reduction of Public Debt (upfront, annual and variable if/where applicable),

2. reduction of any funding requirements imposed on the State Budget including any “stoploss” effect resulting from privatization,

3. procurement of goods and services and capital expenditure in the wider Greek economy,

4. job creation in privatized assets and jobs supported via Greek suppliers and service

providers at the national and regional level,

5. rise in private consumption from spending of wages generated through the employment

effect

2.2 The economic impacts measured in the study should be quantified using, at a minimum, the

following metrics:

1. Gross fixed capital formation,

2. Gross value-added and GDP,

3. Tax revenues and social security contributions,

4. Employment, measured on a full-time equivalent basis or, at a minimum, headcount.

2.3 The quantification of the economic impacts should reflect a comparison of “privatization vs no

privatization” scenario(s).

3. Duration and Budget

3.1. Duration: The Duration of the Engagement Letter shall be six (6) calendar months. An

extension of the duration of the Engagement Letter with the Adviser may be agreed upon

if such is deemed necessary for the completion of the Assignment.

3.2. Budget: The maximum available budget for the Assignment is EUR 200.000, 00 excluding

VAT (the “Budget”). The Budget covers both the Adviser-s remunerations for the

Assignment and all expenses incurred in relation to, and in performing, the Assignment.

3.3. HRADF reserves the right to extend or modify the contract with the Adviser to either limit

or expand its scope and/or to include any additional services that may be required and

cannot be specified today.
4. Qualification and Criteria

Interested Parties should be able to demonstrate their standing and professional experience in

relation to the Assignment. Interested Parties should be able to demonstrate:

4.1. Track Record & Experience: Proof of relevant track record and experience in the provision

of expert advisory services, particularly in the field of macro and socioeconomic impact

analyses. Experience in the Greek environment or similar European/international

environments will be highly appreciated. The respective dossier should include, obligatorily,

a catalogue of all relevant assignments in which the Interested Party has participated in the

last ten (10) years. Interested Parties should demonstrate that they have the necessary

resource capabilities in terms of a team of professionals for rendering the services and

delivering the Assignment (Dossier A-).

4.2. Assignment Team: Proposed team composition (and its proposed structure and roles)

including relevant experience (as per para 4.1. above). Interested Parties should designate

the team leader and at least two (2) senior members of the team. The team leader should

have at least eight (8) years of experience and the senior members at least four (4) years of

experience. The Proposals should include CVs of all members of the proposed team.

Mastery of the Greek language will be highly appreciated. Moreover, a list of all relevant

projects proving experience of the individual members of the team (as per para 4.1.) should

be submitted and included in the respective Dossier. The designated team leader and the

senior members of the team may be replaced only with HRADF-s prior consent. (Dossier B-).

4.3. Methodological Approach: Interested Parties should submit in their proposal a description

of the proposed approach to the Assignment, identification of critical issues, methodologies

and metrics to be applied as well as its deliverables including an indicative timetable.

(Dossier C-). As stated in para 2 above, the Adviser is expected to use appropriate and wellestablished economic models suitable for this type of assignments.

4.4. Financial Offer: The Proposal should include a financial offer (the “Financial Offer”),

considering the Budget, with a detailed budget analysis and structure, quoting separately a)

the fee and b) a capped amount for expenses (Dossier D-). The type of expenses incurred

and their settlement, will comply with the HRADF-s Project Expenses Policy that will be

appended to the Engagement Letter.

4.5. Interested Parties and each individual member (i.e. natural person(s)) of their proposed

team must declare in writing that they do not have a conflict of interest in connection with

the services that will be offered in the context of the Assignment at the time of the

submission of the Proposal as well as that they do not have any relationship of economic or

of any other nature with any of the assets to which the Assignment concerns and/or their

controlling shareholders conflicting with the services and the Assignment. Such a

declaration confirming the absence of any conflict of interest shall be in effect throughout

the term of the Engagement Letter of the Adviser with HRADF.
4.6. Natural persons being involved in the tender process must also declare in writing that they

consent to the processing of their personal data submitted in the context of this RfP (as per

par. 6.6 below) according to Annex 1 attached hereto and consisting an essential part

hereof.

4.7. Interested Parties must meet all the qualifications as described above under 4.1 through 4.6

Interested Parties, who fail to submit their Proposals in full compliance to the qualifications

required under 4.1 through 4.6 of the RfP, shall be disqualified from the Tender.

4.8. The Adviser must observe and abide by the rules provided for in art. 7 of the Law 3049/2002

and particularly their professional code of conduct and relevant confidentiality rules even

after the conclusion of their engagement.

5. Selection Process

5.1. The Assignment will be awarded in accordance with the provisions of the Law 3986/2011

and article 2.4 of the Procurement Regulation of HRADF, as in force.

5.2. Interested Parties are assessed and evaluated in accordance with the table below. The

Tender will be awarded at the Interested Party with the highest score.

5.3. Interested Parties are evaluated based on the following criteria and their respective

weighting:

Criterion Weighting

Track Record & Experience - DOSSIER A- 25%

Assignment Team - DOSSIER B- 25%

Methodological Approach - DOSSIER C- 25%

Financial Offer - DOSSIER D- 25%

5.4. HRADF may request additional documents and/or clarifications and/or information from

the Interested Parties in connection with any issue related to their Proposal, if deemed

necessary.

5.5. The Proposals, consisting of DOSSIERS A-, B-, C- and D-, the declarations (a) consenting to

the processing of natural persons- personal data submitted in the context of this RfP and

(b) confirming the absence of any conflict of interest and any other supporting

documentation which proves the required expe

Documents

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