Background

Assessments undertaken in collaboration with UNDP in the past few months have validated the necessasitiy, desirability and feasibility of an SME bank in the Maldives. The Government of Maldives intends to build on from the work carried so far in support of development of a comprehensive national SME policy framework. In this regard, in the next stage the government would like to initiate studies to align SME development objectives with policies for decentralization, regional development and gender to come up a with a more coherent and consistent policy framework for SME development nationwide.

Duties and Responsibilities

The objectives of this assessment are to support formulation of a coherent SME policy framework and facilitate informed policy decision making across the government. Towards realizing these objectives, MED would like to seek support of a consultant to map out the potential SME opportunities in selected locations within the country. The focus of the assessment is to assess and identify potential SME business opportunities in all the economic sectors in the Southern (Addu & Fuwamulaku), South Central (Laamu) and Upper North (Haa. Dhaal) Provinces that will contribute to regional economic diversification and employment generation, in particular for vulnerable groups. The findings of the assessment shall provide guidance to attune SME loan disbursements with economic diversification and employment generation objectives in the atolls. It should identify new or emerging SME opportunities that have the potential for future expansion.

The specific outputs expected from the assessment include:

  1. Review existing documentation on SMEs  and SME lending practices in the selected provinces
  2. Undertake need identification of SME activities in the selected provinces
  3. Detail mapping of existing and potential SME opportunities in selected provinces. The mapping shall cover the following details;
  • Sector/industry wide details of existing and potential SMEs
  • Volume of production or level of demand for goods and services produced by SME, including the likelihood of expansion
  • The likelihood of creating value chains through SME linkages within the region
  • The extent of employment generation with breakdowns of relative engagement of women and youth
  • Potential SMEs for creating women and youth entrepreneurs
  • Market access for SMEs within the region and the likelihood of expanding market access
  • Existing and potential SMEs that could cater for export development/import replacement
  • A report on the findings of the assessment with specific policy recommendations and interventions to guide SME development and diversification policy of the government.

The methodology for the assessment shall be developed by the consultant in consultation with the concerned stakeholders.

Reporting arrangements
Under guidance of Minister of Economic Development the consultant will work closely with all stakeholders and will report on a regular basis to MED. The following briefing meetings shall be held:

  • An inception briefing meeting prior to the start of the assessment to provide policy guidance
  • A briefing meeting to discuss and fine-tune the methodology once formulated
  • De-briefing meeting to present the findings of the mapping activity

Competencies

Corporate Competencies:

  • Demonstrates integrity by modeling the UN’s values and ethical standards
  • Promotes the vision, mission, and strategic goals of UNDP
  • Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability

Functional Competencies:

Knowledge Management and Learning

  • Promotes knowledge management in UNDP and a learning environment in the office through leadership and personal example
  • Actively works towards continuing personal learning and development in one or more Practice Areas, acts on learning plan and applies newly acquired skills

Development and Operational Effectiveness

  • Ability to lead strategic planning, results-based management and reporting
  • Ability to lead formulation, implementation, monitoring and evaluation of development programmes and projects, mobilize resources
  • Ability to formulate and manage budgets, manage contributions and investments, manage transactions, conduct financial analysis, reporting and cost-recovery
  • Good knowledge of the Results Management Guide and Toolkit
  • Good ICT skills, knowledge of Atlas
  • Ability to implement new systems and affect staff behavioral/ attitudinal change

Management and Leadership

  • Builds strong relationships with clients, focuses on impact and result for the client and responds positively to feedback
  • Consistently approaches work with energy and a positive, constructive attitude
  • Demonstrates good oral and written communication skills
  • Demonstrates openness to change and ability to manage complexities

Required Skills and Experience

International expert with banking and finance related degree and more than 10 years experience in working in and advising financial institutions agencies/departments. The consultant should also demonstrate experience in:

  • developing government services for SMEs/private sector, analyzing the needs of business, institutional development, be fluent in English and have experience in developing countries, preferably small island economies.