The United Nations Secretariat invites Legally registered Law firm(s) to tender EOI documents for the following works:
The United Nations Secretariat is one of the six major organs of the United Nations, with the others being the General Assembly; the Security Council; the Economic and Social Council; the defunct Trusteeship Council; and the International Court of Justice. The Secretariat is the United Nations' executive arm.
Applications are invited for:
Title: Expression of Interest (EOI) - Provision of Legal Services on Establishing and Advising the Liquidity and Sustainability Facility (LSF)
Description of Requirements
African economies have been profoundly affected by the COVID-19 pandemic. African governments’ fiscal space has been shrinking and remains insufficient to meet their development finance needs. In addition, African countries face a heavy debt burden resulting from high borrowing costs due to the illiquid nature of their sovereign bonds. Studies have shown that African countries pay 2.9 per cent higher premiums than other countries with similar macroeconomic fundamentals. Therefore, there is an urgent need for innovative financing solutions to address the debt problem of African countries and avoid irreversible scars on African economies.
About the Liquidity and Sustainability Facility
The main objective of the Liquidity and Sustainability Facility is to solve the ongoing issue of high premiums of African Eurobonds caused by a lack of liquidity through the creation of a repo market. By providing a a repo lending facility on African Eurobonds, the LSF can increase the liquidity and demand of these bonds, increase bond prices and decrease yields, lower the cost of capital for new bond issues, and enhance debt sustainability.
The LSF also intends to incentivise sustainability-linked investments, including green bonds and SDG bonds, on top of attracting more investors for African sovereign bonds and reducing the cost of borrowing. The United Nations Economic Commission for Africa launched the principle of the LSF at the 26th Conference of Parties of the United Nations Framework Convention on Climate Change (UNFCCC) - Launch of the Liquidity and Sustainability Facility | United Nations Economic Commission for Africa (uneca.org).
- Legally registered Law firm
- At least five years of experience in repurchasing or ‘repo’ markets
- Team leader to have a Masters degree in Law or equivalent with at least 5 years of experience in green bond markets
- At least five years of experience in green bond markets
- Legal Advisory service related to bond markets provided globally and particularly in Africa
- Experience in working with UN agencies or similar international organizations
- Experience in working with local administration entities and service providers in the chosen jurisdiction of the LSF. Either Canada, Ireland, Luxemburg, and the United Kingdom
Application Closing Date
14th March, 2022.
Submission of Documents
Interested vendors/organisations who wish to participate in the EOI process should please Click Here
In case you have difficulties submitting your interest electronically, please contact firstname.lastname@example.org
directly for instructions.
(PDF) for a detailed description of the EOI.