SC 117608 TKM: Building Capacity of Small, And Medium-Sized Enterprises (SMES) Exporters Project – Financial Due Diligence/Financial Management Assessment Expert

Sector:

Country: Turkmenistan

Engaged by ADB, PRIMEX provided the services of a Financial Management Specialist who undertook the conduct of financial due diligence (FDD) and the Financial Management Assessment (FMA) in relation to the State Bank for Foreign Economic Affairs of Turkmenistan (SBFEA) in accordance with the applicable ADB guidelines. Specifically, the specialist undertook the following activities: (i) perform interviews, collect information, conduct FDD, and prepare FMA for SBFEA in accordance with the applicable ADB guidelines and review the projected financial statements for SBFEA to demonstrate long-term financial sustainability of the Project; (ii) prepare a detailed Financial Analysis Report (FAR) in compliance with ADB requirements, summarizing the SBFEA’s financial sustainability, with recommendations for appropriate measures for improvement of SBFEA’s key operational and financial aspects (e.g., capital adequacy, asset quality, management quality, earnings quality, liquidity and sensitivity); (iii) specific tasks related to the detailed FAR such as: (a) preparing and reviewing SBFEA’s financial projections and all relevant information and assumption, (b) providing recommendations for any required changes as appropriate; and (c) confirming agreed measures to address the identified deficiencies; (iv) where significant risks are identified to the project’s financial sustainability or viability, propose relevant financial performance indicators to be incorporated as financial covenants; (v) ensure that inputs, calculations, and all relevant parameters of the Financial Analysis are consistent with the Economic Analysis, if available, for the project to allow proper distribution of benefits; (vi) assess and reach agreement on financial reporting, auditing and public disclosure arrangements for the project, and, as appropriate, identify and agree arrangements for receiving financial statements from SBFEA; (vii) prepare the project’s summary financial analysis (SFA) to be included as a linked document in ADB’s Report and Recommendation of the President (RRP); (viii) prepare any other background documents that may be required for ADB’s Project Administration Manual (PAM) and RRP preparation; (ix) be able to work closely with his/her national counterpart; and (x) carry out any other tasks within the context of the SOW as may be required by ADB.