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Tenders are invited for Framework Engagement for Sustainable Securities Issuance Advisory and External Review Services These Terms of Reference cover two separate framework engagements, procured through a single process: Scope of Work 1 (SOW 1) Sustainable Securities Issuance Advisory Services: hands-on support to prospective issuers to assess readiness, develop an eligible portfolio, prepare an issuer-owned sustainable-securities framework and establish the governance and reporting arrangements required to implement it. Scope of Work 2 (SOW 2) Second-Party Opinion and External Review Services: independent pre-issuance second-party opinions, and where commissioned, updated and post-issuance external reviews, on frameworks, programmes and transactions prepared by issuers. Bidders may submit a proposal for SOW 1, for SOW 2, or for both. A separate technical and financial proposal is required for each scope of work, and the scope of work must be identified in the proposal and in the submission subject line. A proposal that does not identify the scope of work applied for will not be evaluated 5. Scope of Work 1: Sustainable Securities Issuance Advisory Services 5.1. Objective The purpose of the engagement is to enable prospective issuers to prepare credible, marketready sustainable securities and establish the internal arrangements required to implement their commitments. The adviser will: Assess issuer readiness and advise on an appropriate sustainable-securities issuance approach. Support the identification and screening of eligible projects, assets, loans, activities and expenditures. Develop an issuer-owned sustainable-securities framework and practical governance and reporting arrangements. Support coordination with independent external reviewers, ECMA, ESX, transaction advisers and prospective investors. Build issuer capability and transfer the tools required for implementation and ongoing reporting. 5.2. Issuer readiness and issuance strategy Assess the issuers financing needs, sustainability priorities, governance, project pipeline, data availability and organisational readiness. Advise on the appropriate sustainable-security label and approach, taking account of the issuers financing objectives, eligible portfolio, internal capacity and intended investor base. Prepare a concise readiness and transaction roadmap identifying material gaps, decisions, responsible teams, required advisers and an indicative issuance timetable. Assess ESG related risks and opportunities associated with the proposed issuance. 5.3. Eligible project and portfolio development Work with the issuers business units and project owners to identify potentially eligible projects, assets, loans, activities and expenditures, including pipeline and eligible refinancing where relevant. Screen the proposed portfolio against applicable Ethiopian requirements, recognised market principles, relevant taxonomies and agreed eligibility and exclusion criteria. For social securities, support the identification and justification of target populations and expected social outcomes. Prepare an eligibility matrix and evidence register identifying eligible, potentially eligible, ineligible and insufficiently documented items, together with a practical data-gap and portfolio-replenishment plan. 5.4. Sustainable securities framework development Prepare or update an issuer-owned sustainable-securities framework aligned with applicable ECMA, ESX and international requirements. For use-of-proceeds instruments, define the eligible use of proceeds, project evaluation and selection, management of proceeds and reporting commitments. Where a sustainability-linked approach is selected, support the selection of material and measurable KPIs, credible baselines and appropriately ambitious sustainability performance targets, together with the related reporting and verification arrangements. Address eligibility and exclusion criteria, refinancing, management of unallocated proceeds, treatment of ineligible projects, governance, reporting frequency and any other material disclosure required for the proposed issuance. 5.5. Governance, management of proceeds and reporting Develop project-selection governance, roles and responsibilities, committee procedures, approval records and escalation arrangements. Establish proportionate tools for proceeds tracking, portfolio monitoring, evidence retention, data quality, internal control and periodic management review. Develop allocation, impact or KPI performance-reporting methodologies, indicators, data sources, calculation tools and issuer-owned reporting templates. Where included in a call-off, support preparation of the issuers first allocation, impact or performance report. Any independent assurance or verification will be commissioned separately under SOW 2. 5.6. External review, regulatory and transaction support Prepare the information package, secure data-room index, evidence register and response tracker required by the independent external reviewer. Undertake a pre-assessment of the framework against applicable external review methodologies to identify potential alignment gaps and strengthen the quality of documentation before submission to the independent reviewer. Coordinate meetings, information requests, management responses, factual review and closure of outstanding questions without influencing the external reviewers methodology, judgement or conclusion. Support engagement with ECMA, ESX and transaction advisers and maintain consistency across the sustainable-securities framework, offering documents, external review and investor disclosures. Prepare the sustainability content for investor presentations and roadshow materials, anticipated investor questions, management briefing notes; support issuer participation in investor meetings where requested. Tender Link : https://www.developmentaid.org/#!/tenders/search
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