State-Owned Enterprise Restructuring
Croatia, 09 February 2018
The Government of Croatia, represented by the Ministry for State Assets (the Ministry or the Client) is requesting support under the EU's Structural Reform Support Programme (the "SRSP") to strengthen the SOE restructuring framework in Croatia.
The Project aims at improving framework for restructuring of state-owned enterprises (SOEs) in Croatia, one of the central challenges to the SOE governance in the country. SOEs play an important role in the Croatian economy. However, with the value of SOEs assets being much higher than in the CEE countries, but way less profitable or more loss-making than CEE peers in the same sector. As such, a great number of SOEs face financial difficulty and are in need of restructuring. Currently, there is no adequate framework to govern the process of restructuring. Additionally, the Government (in particular line Ministries and the Ministry) as well as SOEs lack skills to oversee the restructuring process. As a result, the restructuring processes either take a long time to complete or do not lead to the desired results, or do not happen at all.
The Bank now intends to engage a consulting company (the Consultant) to technical support is to support the Ministry, CERP (Centre for Restructuring and Privatisation) and the Ministry of Finance in establishing a framework for preparing and implementing restructuring plans in SOEs in financial difficulty. (the Assignment).
The expected outcome of the Assignment is the Establishment of a framework for the preparation and implementation of restructuring plans for SOEs in financial difficulty.
The selected Consultant is expected to provide the following services:
Prepare recommendations on the current processes regarding SOEs restructuring
Prepare draft guidelines for the Ministry/CERP/MINFIN concerning the preparation and implementation of SOE restructuring plans
Prepare draft guidelines for SOEs concerning the preparation and implementation of their restructuring plans
View the ECN Procurement Notice (This notice is visible only to ECN Executive and Expert Members: Please login to view).