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EBRD seeks consultant to improve governance of Croatian state-owned enterprises

25.01.2017  16:27

The European Bank for Reconstruction and Development (EBRD) has invited expressions of interest in the provision of consultancy services to Croatia's Ministry for State Property Management and Restructuring and Sale Centre (CERP) to ensure more effective governance of state-owned enterprises.

The recently-formed Ministry for State Property Management has requested assistance from the EBRD in improving the governance of state-owned enterprises, in line with the 2015 and 2016 Council Recommendations to Croatia, the bank says in its invitation.

The recommendations include advancing the divestment of state assets and reinforcing the monitoring of state-owned enterprises' performance and boards' accountability, including by advancing the listing of shares of state-owned companies.

The EBRD says that state-owned enterprises in Croatia play an important role in the domestic economy as they account for 12% of overall employment, 18% of the total turnover and 30% of total assets, noting that the state is heavily present in public utilities and transportation.

Over 500 enterprises in which the state holds shares are managed by the Ministry for State Property Management, which is responsible for 43 companies classified as being of special interest or strategic interest and for the CERP, which manages about 470 companies, of which 35 are in majority state ownership.

The EBRD is seeking a consultant to support the Ministry and CERP in improving the governance of state-owned enterprises through the development of a unified reporting and monitoring framework as well as through the development of a set of guidelines and recommendations to strengthen corporate governance and business planning in those companies.

The deadline for the submission of proposals is February 9. The assignment is expected to start in the second half of February or March this year and has an estimated overall duration of eight months.

The cost estimate for the assignment is EUR 175,000 (exclusive of VAT), and the assignment is expected to be funded by the European Union.

 

 

Source: HINA-English Lang.Service, 23-01-2017