Expressions Of Interest For Consultancy Services Poland Implementation Of The Capital Market Development Str ...

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Expressions Of Interest For Consultancy Services Poland Implementation Of The Capital Market Development Strategy Cmds The Establishment Of The Structural Reform Programme Srsp Regulation To Provide Technical Assistance For The Implementation Of The Capital Market Development Strategy Cmds The Project The European Commission Has Agreed To Provide Technical Support To Poland Together With The European Bank For Reconstruction And Development Ebrd Or The Bank The Technical Cooperation Tc Project Will Be Led By The Local Currency And Capital Markets Development Lc2 Initiative Of The Ebrd The Capital Markets Development Strategy Cmds Is A Deliverable Arising From The Polish Government S Responsible Development Strategy The Cmds Which Was Approved By The Government On The 1St Of October 2019 Is The First Detailed National Capital Markets Plan For Poland That Builds On Poland S Classification As A Developed Market Covering The Period 2019 2023 Poland Has Lacked A Comprehensive And Coordinated Capital Market Strategy Until Now But The Cmds Has Identified 20 Barriers That Must Be Overcome In The Next Five Years In Order For Polish Capital Markets To Develop The Cmds Will Implement A Vast Array Of Initiatives So That The Goals Identified In The Cmds Are Achieved And Will Further Align Polish Capital Markets With The Cmu Currently The Polish Capital Market Is Much Less Developed Than Most Developed European Markets And It Is Expected That It Will Be Subject To A High Competitive Pressure Equity And Debt Markets Still Play A Less Important Role In The Financing Of Companies Which Makes Them Less Liquid And Effective Than The Most Developed Markets Furthermore The Level Of Poles Savings Is Significantly Below The Level Observed In Many Eu Countries And The Existing Savings Are Not Always Optimally Allocated And Dedicated To Investment Especially Long Term This Has A Direct Impact On The Relatively Low Innovativeness Of The Polish Economy And Therefore On Its Relatively Low International Competitiveness It Is Also Important To Note The Negative Balance Of Ipos And Exits On The Stock Exchange And The Falling Share Of Individual And Institutional Investors In The Stock Exchange Turnover The Overall Objective Of The Project Is The Implementation Of Measures That Have Been Identified In The Cmds These Can Be Implemented Through Inter Alia Legal And Regulatory Reform Market Reform And Market Infrastructure Projects The Government Has Put In Place Strong Leadership For The Delivery Of The Plan The Leadership Will Be Enforced By An Internal Project Management Office Pmo Which Will Have The Mandate And Will Power To Create Continuous Reforms The Specific Objective Of The Project Is To Provide Technical Support To The Pmo I In Drafting Legal Acts Forming Part Of The Regulatory Reform Ii Market And Quantitative Analyses Iii Implementing Innovation Foreseen In Recommendations Such Support To The Pmo Will Mainly Be Through The Work Of Consultants Preparing Legal And Regulatory Acts Managing The Reforms And Making Sure They Are Implemented The Bank Now Intends To Engage A Consulting Company The Consultant To Assist And Support The Mof With The Implementation Of The Following Activities Prepare A Roadmap On How To Implement The Measures Identified In The Cmds Assessment Of Possible Solutions And Proposal Of Solutions To Be Implemented Draft Legal And Regulatory Acts Needed For The Implementation Of The Cmds Capacity Building Workshops And Public Relations Activities

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