BRVM FOR MARKET PARTICIPANTS CAPACITY ENHANCEMENT AND GSSS BONDS ISSUANCE

INTRODUCTION TO GGGI

The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page. 

CURRENT OPPORTUNITY

Cote d’Ivoire government has affirmed BRVM and GGGI’s role in developing the green bond market, indicating readiness to collaborate on initiatives such as a further campaign awareness, education, and Green Bond Accelerator Programs. In accordance with the Partnership Agreement signed on 25^th April 2024 and the subsequent MOU, GGGI, in cooperation with BRVM, will develop a market assessment and organize a Green Bond roundtable workshop, as endorsed by the Cote d’Ivoire government.

GGGI is looking to hire a consultant. Overall, the objectives of the assignment are geared towards promoting the integration of sustainable finance practices, addressing existing gaps in policy and stakeholder capacity, and facilitating collective efforts towards achieving sustainability objectives within the WAEMU sub-region.

The service provider shall cover the following:

1) Analysis of Policy Initiatives and Regulatory Frameworks: The assignment aims to thoroughly examine existing policy initiatives and regulatory frameworks related to the issuance of sustainable bonds (GSSS) within WAEMU. This involves assessing the effectiveness, comprehensiveness, and alignment of these frameworks with sustainable finance goals.

2) Identification of Gaps: Through the analysis, the assignment seeks to identify gaps within the current policy and regulatory frameworks. These gaps could include areas where policies are insufficient, inconsistent, or do not adequately address the needs of promoting sustainable finance practices.

3) Evaluation of Stakeholder Participation: The assignment involves identifying key participants and stakeholders involved in the issuance process of sustainable bonds. It also aims to evaluate their capacity and readiness in implementing sustainable finance practices and utilizing green finance instruments.

4) Recommendations for Improvement: Based on the identified gaps and stakeholder assessments, the assignment aims to provide actionable recommendations for enhancing policy frameworks and stakeholder capacity. These recommendations may include suggestions for policy amendments, capacity-building initiatives, or stakeholder engagement strategies.

5) Facilitation of Dialogue and Collaboration: Additionally, the assignment seeks to support the organization of roundtable discussions and workshops involving key stakeholders. These activities aim to foster dialogue, knowledge-sharing, and collaboration among stakeholders to advance sustainable finance goals within the sub-region.

 

DELIVERABLES

The expected outputs and deliverables of the consultant / service provider are as follows:

Output A – Gap Analysis section:  of current policies and regulatory frameworks that promote environmentally and socially responsible projects to encourage the issuance of GSS bonds.

Deliverables

• Identification of gaps within the current policy initiatives and regulatory frameworks promoting sustainable bonds issuance
• Clear presentation of identified gaps, including their nature and potential impacts.
• Recommendations for addressing each identified gap, with a focus on improving policy and regulatory frameworks.

 

Output B – stakeholder analysis section:  to seamlessly integrate sustainable finance practices in their operations.

Deliverables

• Identification of key participants and stakeholders involved in the issuance process of sustainable bonds.
• Assessment of the readiness and capacity of these stakeholders to implement sustainable finance practices and green finance instruments.
• Presentation of stakeholder capacity gaps and their implications
• Recommendations for addressing stakeholder capacity gaps to facilitate the integration of sustainable finance practices.

 

Output C – Roundtable discussion plan.

Deliverables

• Detailed plan for organizing roundtable discussions involving key stakeholders.
• Proposed agenda and topics for discussion
• Framework for facilitating constructive dialogue and collaboration among stakeholders.

 

Output D – Workshop plan.

Deliverables

• Comprehensive plan for organizing workshops aimed at enhancing the capacity of key stakeholders.
• Outline of workshop objectives, content, and methodologies
• Proposed timeline and logistics for workshop implementation

 

Output F – materials.

Executive summary

Deliverables

• Concise summary highlighting the main findings and recommendations of the analysis.
• Key insights derived from the gap and readiness assessment.
• Overview of proposed actions to address identified gaps and enhance stakeholder capacity.

 

Appendices

Deliverables

• Supplementary materials such as data tables, charts, and additional documentation supporting analysis.
• Copies of relevant policy documents, regulations, and stakeholder profiles

 

This assignment shall be completed over 45 working days within a 6-month period from the contract effective date as follows: 

#	Deliverable Description	Deadline	KPI	Payment (% of Contract Value)
1	Prelim Gap analysis and readiness report (no more than 15 to 20 pages): providing the current sustainable bonds issuance landscape in WAEMU. Identifying 1) main gaps within policy and regulatory frameworks and potential impacts 2) prelim recommendations for addressing identified gap 3) key participants and stakeholders 4) assessment of their respective readiness and capacity gaps 5) prelim recommendations in addressing identified gaps 6) detailed plan for organizing roundtable	Within 6 weeks after contract signature	Report after a kick start meeting with BRVM and GGGI. Prelim Report including recommendations that would be presented at the roundtable with BRVM and other identified key stakeholders.	20%
Roundtable participation for discussion	10%
2	Final readiness report (no more than 25 to 30 pages): providing additional recommendations following roundtable discussion with focus on 1) on addressing identified gaps with focus on improving policy and regulatory frameworks 2) on addressing stakeholders capacity gaps and engagement 3) comprehensive plan for organizing 1 to 2 workshops to enhance capacity 4) screen and prepare a long list of prospective/potential thematic bond issuers within the region both in private and public sectors (optional)	Within 12 weeks after contract signature	Final report presented at a meeting with BRVM and GGGI, outlining workshop objectives, content and methodologies, timeline, and logistics for implementation.	30%
Workshop participation and coordination	15%
3	Materials submission: concise summary with 1) main finding and recommendations, 2) gap and readiness analysis 3) proposed actions to address gaps and enhance capacity 4) supplementary materials 5) copies of relevant documents.	Within 20 weeks	Meeting with BRVM and GGGI to present final summary that would be approved by both GGGI and BRVM	25%

The assignment will focus on one hand, on the gap and readiness analysis report aim to provide a comprehensive understanding of the current landscape surrounding sustainable bonds issuance within WAEMU, identify areas for improvement, and propose actionable recommendations to enhance the effectiveness of policy frameworks and stakeholder engagement in sustainable finance practices.

 

EXPERTISE REQUIRED

To effectively conduct the mission described, the service provider would require a combination of expertise, competencies, and qualifications split into following parts:

• Demonstrated experience in similar assignments, particularly in Sub-Saharan Africa or other emerging and developing markets.
• Knowledge of sustainable finance: a deep understanding of sustainable finance principles, including knowledge of sustainable bonds, green finance instruments, and ESG criteria. This includes familiarity with international standards and best practices in sustainable finance
• Research and Policy analysis skills: Strong analytical skills to assess sustainable finance policies and regulations, identifying gaps and strengths for improvement. Proficient in conducting comprehensive research to gather and analyze data, drawing evidence-based conclusions.
• stakeholder engagement: experience in organizing roundtables and workshops with diverse stakeholders including government agencies, regulatory bodies, financial institutions, and industry representatives.
• Technical Expertise: Familiarity with financial instruments, investment practices, and regulatory requirements relevant to sustainable finance. Knowledge of financial modeling, risk assessment, and impact measurement methodologies would be beneficial.
• Previous Experience: 10+ years relevant experience in one or more of the following disciplines:  consulting, advisory, or project management focused on sustainable finance, environmental sustainability, or related areas. Track record of successfully delivering similar assignments is desirable.
• Fluent both in English and French

Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.