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Legal Assessment for Project Oak Infrastructure Tender - 131744844

The WORLD BANK(WB) has issued a Tender notice for the procurement of a Legal Assessment for Project Oak Infrastructure Bond - Kenyan law KES bond in the Kenya. This Tender notice was published on 10 Dec 2025 and is scheduled to close on 16 Dec 2025, with an estimated Tender value of Refer Document. Interested bidders can access detailed Tender information, eligibility criteria, and complete bidding documents by referencing TOT Ref No. 131744844, while the tender notice number is 0002020001 and Registering on the platform.

Procurement Summary

Country: Kenya

Summary: Legal Assessment for Project Oak Infrastructure Bond - Kenyan law KES bond

Deadline: 16 Dec 2025

Posting Date: 10 Dec 2025

Other Information

Notice Type: Tender

TOT Ref.No.: 131744844

Document Ref. No.: 0002020001

Competition: ICB

Financier: World Bank (WB)

Purchaser Ownership: Public

Tender Value: Refer Document

Purchaser's Detail

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Tender Details

From 2010 and up until the onset ofthe COVID-19 pandemic, Kenya seized opportunities presented by the globallow-interest environment to invest in its infrastructure[1]. Tofinance these investments Kenya drew on public and foreign savings resulting inwider fiscal and current account deficits. The construction and public sectordriven boom, however, generated limited growth and jobs dividends. At the sametime, because of the accumulation of pending bills and arrears by thegovernment, domestic firms and suppliers experienced cash flow issuescontributing to rising nonperforming loans (NPLs) in the banking sector, whichreached 17.2 percent by February 2025.At the same time, the need torespond to development needs and unlock private capital at scale subsists, andwith improved local interest rates and a more stable foreign exchange rate, theopportunity for capital market development and leveraging securitizationas a tool to mobilize private capital and accelerate development efforts in aresponsible and sustainable manner is a logical choice. Kenya Roads Board (KRB) a stateagency incorporated under the Kenya Roads Board Act, is tasked to fund, overseeand coordinate road maintenance, rehabilitation and development. KRB has significant outstanding arrears andunpaid bills to the private sector companies operating in the roads and constructionsector. These pending obligations have led to widespread suspension ofinfrastructure works, affecting livelihoods, road users, and resulting in lossof jobs due to the inability of the companies to retain their workers andsignificant delinquency on the part of these private companies to the bankingsector[2].These factors triggered the need for an innovative approach to raise thenecessary financing to bridge the financing gap and reduce the outstandingarrears to private companies. The KRB is funded by a roadmaintenance levy that is collected from oil importers by the Kenya RevenueAuthority pursuant to the Roads Maintenance Levy Fund Act (RMLF...

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