Strengthening the National Bank of Georgia Capacity in the Field of Banking and Payment... Tender

Procurement Summary

Country : Georgia

Summary : Strengthening the National Bank of Georgia Capacity in the Field of Banking and Payment Services

Deadline : 16 Nov 2018

Other Information

Notice Type : Tender

TOT Ref.No.: 26728939

Document Ref. No. : EuropeAid/161265/DD/ACT/GE

Competition : ICB

Financier : EuropeaAid

Purchaser Ownership : -

Tender Value : Refer Document

Purchaser's Detail

Purchaser : NATIONAL BANK OF GEORGIA
Ms. Sirje Poder Attache Programme Officer, Private Sector Development, Trade Facilitation 38 Nino Chkheidze St, 0102 Tbilisi, Tel: +995 32 2943 763
Georgia
Email :sirje.poder@eeas.europa.eu

Tender Details

Tenders are invited for Strengthening the National Bank of Georgia capacity in the field of Banking and Payment Services in line with the EU Standards, GE 16 ENI FI 04 18

Programme: Neighbourhood

Geographical Zone: Georgia

Type: Twinning action grant

Status: Open » 16/11/2018

Budget: 1, 750, 000 (EUR)

Nature of activities, geographical area and project duration
(a) Short description (5 lines) of planned objectives:
The overall objective of the Twinning Project is to ensure stability and transparency of the financial sector by assisting National Bank of Georgia (NBG) to improve overall financial supervisory mechanisms in line with the EU best practices.
The specific objective of the project is to strengthen NBG-s capacity in the field of banking and payment services as well as gradually approximate the regulatory, supervisory and enforcement framework in line with the EU legislation and the requirements under the EU-Georgia Association Agreement.
The following mandatory results are to be achieved by this Twinning project:

Component 1 - Approximation and implementation of Georgian legislation with Union acquis in the banking sector
The banking legislation should be amended to ensure strengthened resilience, better governance and more transparency in the banking sector in line with the Union acquis. Besides, there is a need to introduce legislative amendments to strengthen the effective supervision of financial conglomerates in Georgia with the overall goal to ensure financial stability and consumer protection. Support is required in order to ensure the completion of a comprehensive, efficient and effective supervision system. In addition, the project is expected to contribute to sharing the best EU practices in banking regulation. Capacity building is necessary in order to comply with all the amendments and new legislative initiatives adopted in line with the requirements of the Association Agreement. Under the component, capacity building activities have to be organized, including trainings, workshops and seminars for NBG employees in the areas targeted by the legislative amendments. It would be necessary give opportunity for NBG relevant staff to get acquainted with practical aspects of the work during study visits and/or internships to the MS countries.
Result 1.1: Contribution to the revision and implementation of the Banking legislation in accordance with CRD IV Package

Component 2 - Approximation and implementation of Georgian legislation with the Union acquis in the area of payments
It is necessary to identify and review gaps between the Second Payment Services Directive (PSD 2), Settlement Finality Directive, Regulation on Cross-border Payments and Georgian legislation and to amend national regulatory framework in line with the requirements of the EU law. It is foreseen to establish prudential supervision for the Georgian payments market. Given that the payment service market is developing dramatically, support is urgently required in order to fill out the gaps and ensure the formation of a comprehensive, efficient and effective supervision system. In order to correctly implement the legislative changes in practice, the NBG staff should be acquainted with working procedures of the relevant directives and regulations in the EU, e.g. it is necessary that the employees are trained and capable to conduct effective oversight of payment services (especially innovative payment instruments and channels like e-money, etc.) in line with relevant EU directives and regulations, therefor it would be also highly demanded to organize targeted study visit(s) and internship(s) in MS partner countries.
Result 2.1: Contribution to the revision of the legal and implementation framework on payment services in line with relevant directives and regulations and in accordance with an inclusive and evidence-based approach.

(b) Geographical area: Georgia

(c) Maximum project duration: 27 months (implementation period 24 months + 3 months).

4. Overall amount available for this Call for Proposals
EUR 1, 750, 000.

Documents

 Tender Notice