Country: Myanmar
Closing date: 09 Apr 2018
Assignment Description and Purpose:
The Government of Myanmar, led by the Forest Department, has requested technical support from the Wildlife Conservation Society to establish an independent conservation trust fund that can support sustainable financing for biodiversity conservation. Conservation Trust Funds (CTFs) are private, legally independent institutions established to catalyse resources and provide stable, sustainable, long-term sources of funding for the protection and sustainable management of natural resources in areas of high biodiversity. CTFs typically encompass one or more endowments and/or sinking funds. Coupled with other financing mechanisms, CTFs use income from investments to provide a reliable source of support for management of protected areas, and the long-term investment in conservation programs and projects.
WCS, the Government’s Forest Department, and other stakeholders in the country have initiated discussions about the feasibility of establishing a Conservation Trust Fund in the country. In a workshop held on 19 December 2017, one of the key issues emerging was a discussion around the legal feasibility of establishing such a fund in the country.
CTFs in other countries have been incorporated either in their countries under existing legal statutes (e.g. Trustee Acts) or else have been established in other countries where Trust Law exists and facilitates creation of Conservation Trust Funds (e.g. London).
If a Conservation Trust Fund were to be established in Myanmar it would need to have the capability of creating an offshore investment account and investing its resources with the goal of generating money to meet is conservation mission. The CTF would also need to have the ability to attract funds from a variety of sources that can be managed for conservation purposes.
In Myanmar there is a Trust Act dating from 1882, but uncertain whether these can form the basis for establishment of a Conservation Trust Fund. Other options might include a Public Trust under special legislation, compliant with the Administration of Public Funds Law, a non-profit association, compliant with the new Companies Law on as a local affiliate of an international non-government organisation (registered overseas) compliant with the Association Registration Law.
WCS is seeking legal support to explore in potential legal options for establishing a Conservation Trust Fund in the country, registered either in Myanmar under appropriate statutes or else registered outside the country following Trust Law in another country but established to operate within Myanmar to meet identified conservation objectives.
Specifically the legal consultant will undertake the following tasks working in close collaboration with WCS:
Scope of Work:
Research the legal options available with regard to creation and establishment of the CTF as a Trust in Myanmar. Options should explore the feasibility of creation of the CTF under Myanmar law, including the structure that would be required to comply with legal requirements in the country, the concerned laws and how the Trust would interact with these laws; allow the CTF to establishment an offshore endowment, invest local funds both locally and internationally, and manage a variety of accounts from multiple donors that could be directed to support its mission.
Undertake an analysis to determine an approach whereby the Fund would be created in a different country in the region where existing trust law permits such institutions to be created (e.g. Singapore). Identify the approach that would need to be taken to establish the Fund outside Myanmar while also creating a legal entity in the country to receive the Funds from the endowment and from donors to finance conservation. Identify how this would best be structured.
Identify options to ensure that the funding entering the country and disbursed to entities in the country can be done so without the burden of taxes, the possible permissions it would need (i.e. Central Bank of Myanmar, Myanmar Taxation Department) and if it were not possible to be totally tax free, what taxes and the tax rates that could incur.
In developing the options paper, make recommendations consistent with the goal of maintaining the independence of the CTF, and its ability to operate effectively in Myanmar. For example, to maintain an independent board of trustees with the potential for a minority government membership, and/or potential for non-Myanmar nationals or representatives of international groups to be part of the board. The options should identify opportunities, challenges and any institutional risks for the various proposed alternatives.
For the most feasible options, outline the steps that would need to be taken to establish the Trust, resources required, and estimated time frame.
Duration and Compensation:
The work under this contract will begin by April 2018, and will be completed within 6-weeks, before 25 May 2018.
The consultant will provide a completed options paper and will prepare a presentation outlining the options and necessary actions.
This options presentation will be presented in Nay Pyi Taw to the Steering Committee in the first week of June, as well as technical discussions with high-level government officials.
How to apply:
Submit both hard and electronic copies of applications.
WCS Myanmar Program Office
No. 12(B21/22), Narnattaw Street,
Kamayut, Myanmar (Ph. 01-535711)
Or
Send electronic copies documents of application to: