Recruitment of a Consultant to Review and Evaluate EBID Guarantees Tender, Togo - 23875619

Procurement Summary

Country : Togo

Summary : Recruitment of a Consultant to Review and Evaluate EBID Guarantees

Deadline : 18 Jul 2018

Other Information

Notice Type : Tender

TOT Ref.No.: 23875619

Document Ref. No. :

Competition : ICB

Financier : Other Funding Agencies

Purchaser Ownership : -

Tender Value : Refer Document

Purchaser's Detail

Purchaser : ECOWAS BANK FOR INVESTMENT AND DEVELOPMENT
Attn: Mr. Mamadou Saidou CAMARA Director of the Department of Legal and Corporate Services 128, Boulevard du 13 Janvier B.P. 2704 Lomé – Togo Tel : (228) 2221 68 64
Togo
Email :scamara@bidc-ebid.org

Tender Details

Tenders are invited for Recruitment of a Consultant to Review and Evaluate EBID Guarantees.

1. PRESENTATION OF EBID

1.1 VISION, MISSION AND OBJECTIVES OF EBID

The ECOWAS Bank for Investment and Development (EBID), financial arm of ECOWAS is an international financial institution that belongs to the fifteen (15) Member States of the Economic Community of West African States (ECOWAS) namely. enin, Burkina-Faso, Cabo Verde, Côte d'Ivoire, the Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

EBID was transformed in January 2007, into a single entity with two windows of which one is dedicated to promotion of the private sector and the other one, for development of the public sector. Its capital is in the amount of one billion units of account (equivalent to USD 1.518 billion) of which 70% is held by the Member States while the remaining 30% is opened for subscription by non-regional partners. In order to fulfill its mission as a choice tool in fighting poverty, creating wealth and promoting employment for the wellbeing of the people of the sub-region, EBID collaborates with the ECOWAS Commission that provides the strategic orientations and the political impulse.

The Bank uses two main categories of resources to finance its activities: resources from within the Community and, external resources. The internal resources are those mobilized within the sub-region and notably concern capital resources, the resources from the regional financial markets and the special funds to be put in place.

External resources are those mobilized from bilateral or multilateral financial partners such as the governments, multilateral development banks or other banks or international financial institutions. EBID’s vision is to make itself the foremost regional development and investment finance Institution in West Africa, an efficient instrument for the fight against poverty, wealth creation and job promotion for the well-being of the people of the region.

1.2 ORGANISATION

EBID is headed by a President who is assisted by two Vice-Presidents. Its head office is based in Lomé, Togolese Republic. Its staff members are nationals from all the ECOWAS Member Countries.

The Bank has a Board of Governors and a Board of Directors. In accordance with its Articles of Association, the Board of Governors is the highest decision-making organ which meets at least once a year. The Board of Directors is responsible for the general operations of the Bank and meets at least four times per year.


1. 3 ACTIVITIES AND AREAS OF INTERVENTION

EBID carries out operations in the public sector, especially in rural development, basic infrastructure, social sector, etc. and in the private sector, for public commercial infrastructure, industries, services, energy and water, financial services and support to SME, trade finance. Financing from the Bank are in the form of direct medium and long-term loans, equity participation, cofinancing or loan syndication, granting of lines of credit and provision of framework agreements for refinancing, issuance and guarantee of debenture loans, bonds, securities, financial engineering and financial services and trade finance.

2. BACKGROUND AND JUSTIFICATION

As part of its activities and with a view to guaranteeing smooth implementation of financing that are granted, the Bank accepts both fixed and movable guarantees submitted by its partners to cover the said loans. . There is therefore the need to periodically review the guarantees put in place, with a view to ensuring that they are valid, enforceable and their profiles consistent with the commitments entered into.

3. GENERAL OBJECTIVE

The general objective of the mission is to carry out (i) an overall review of the guarantees portfolio based on the financing and guarantee agreements, with a view to ensuring effectiveness and efficiency of the security package granted to the Bank, and (ii) a valuation of the movable and immovable assets tendered by the Bank’s clients as collateral, in order to update the value of assets pledged or mortgaged.

The review concerns about twenty projects located both in French-speaking and English-speaking countries. Regarding the valuation, only the properties listed in annex are concerned.

4. SPECIFIC OBJECTIVES

The specific objectives set forth in the mission of the Consultant are listed as follows :


Carry out a review of the guarantee agreements concluded between the Borrowers and EBID to cover the loans ;


Carry out a valuation of the assets given as guarantees, determine the residual value of the said assets and issue an expert opinion on the movable and immovable guarantees held in the portfolio in compliance with IFRS standards;


Identify all problems that are likely to engender invalidity or unenforceability of the guarantees ;


Propose to the Department of Legal and Corporate Services (DLCS) of EBID corrective actions with a view to making the guarantees that have irregularities become enforceable ;


Make a proposal on procedure for periodic follow-up, evaluation and management of guarantees in accordance with IFRS standards.


Reinforce the capacity of the legal Department in the field of evaluation and management of guarantees.

5. EXPECTED OUTCOME

At the end of the Consultant’s mission :

•The Bank shall have comprehensive information on the validity and the enforceability of the various moveable and immoveable security properties it is holding ;

•The Bank shall have comprehensive information on the value of the various movable and immovable security properties it is holding ;

•The Bank would have strengthened the capacity of staff of the Legal Department as regards follow-up, evaluation and management of guarantees in the various countries where it has operations ;

6. DELIVRABLES

At the end of his mission, the Consultant shall submit in French and in English :

•A detailed audit report on the guarantees taken by EBID ;

•An appraisal and valuation report on the guarantees taken by the Bank ;

•A clear procedure for follow-up, appraisal and management of guarantees in accordance with IFRS;

•A report and training support documents.

Documents

 Tender Notice