Background

The United Nations Capital Development Fund (UNCDF) is the UN’s capital investment agency for the world’s 48 Least Developed Countries (LDCs). UNCDF uses its capital mandate to help LDCs pursue inclusive growth. UNCDF uses ‘smart’ Official Development Assistance (ODA) to unlock and leverage public and private domestic resources; it promotes financial inclusion, including through digital finance, as a key enabler of poverty reduction and inclusive growth; and it demonstrates how localizing finance outside the capital cities can accelerate growth in local economies, promote sustainable and climate resilient infrastructure development, and empower local communities. Using capital grants, loans, and credit enhancements, UNCDF tests financial models in inclusive finance and local development finance; ‘de-risks’ the local investment space; and proves concept, paving the way for larger and more risk-averse investors to come in and scale up.

Against this backdrop, UNCDF/FIPA (Financial Inclusion Practice Area) provides seed capital and technical support through Inclusive Finance projects to ensure that more households and small business gain access to financial services that expand opportunities and reduce vulnerabilities. Its ability to provide risk capital directly to the private sector is helping bring new financial products to underserved and hard to reach markets and spurring innovations. Through flexible grant and loan instruments, UNCDF supports a wide range of providers (e.g. FSPs, banks, cooperatives, money transfer companies, and mobile networks operators) and financial products and services (e.g. savings, credit, insurance, payment services, remittances).

The microfinance sector in Myanmar has developed rapidly since the enactment of the Microfinance Law in November 2011. The sector continues to grow but is in need of support at nearly every level. UNCDF has been involved in issues of financial inclusion in Myanmar since shortly after the enactment of the law and builds on UNDPs experience in Myanmar since 1997.

In 2015 UNCDF has started a new project in Myanmar: Expanding Financial Access (EFA) which is aiming to push forward the implementation of the Financial Inclusion Roadmap (i.e. Roadmap) that lays out a vision and strategy for broadening and deepening financial inclusion in Myanmar. The Roadmap emerges out of a national supply and demand side diagnostic documented in the Making Access Possible (MAP) Myanmar Financial Inclusion Synthesis Note, and the MAP Myanmar Country Diagnostic Report.

With a central focus of Roadmap implementation, the EFA project aims to:

• Support key priorities of the Roadmap, seeking to strengthen financial institutions targeting MSMEs and cooperatives, small-scale farmers, women led enterprises, youth, poor and low- income people, through a financing facility (namely the Market Development Facility – MDF), capacity support to launch a wider range of relevant and affordable products, and customer capability initiatives.

• Assist the government in creating a suitable context to foster formal financial inclusion, through capacity building initiatives targeted at the public sector, in particular, the Financial Regulatory Department (FRD), relevant Ministries, the Myanmar Agriculture Development Bank, MSMEs and the cooperatives sector.

• Further support the Roadmap implementation   by assisting the FRD with its Secretariat role to ensure that the Government of Myanmar is able to coordinate the various efforts and partners priorities to the Roadmap.

With regards to financial inclusion expansion UNCDF has an ongoing partnership with the UNOPS-managed  LIFT Fund.   One initiative planned for early 2020 commencement is the Leave No One Behind (LNB) project.  With LIFT funding,  UNCDF will take on an implementing partner (IP) role, over a 36-month period to:

1)    Manage, report, and assist sub-grantee(s) (e.g. MFIs, Cooperatives) in extending financial services to marginalized sectors and areas throughout Myanmar.
2)    Provide technical experience and apply professional services (legal and audit) to carry out transformation support for 10 MFIs undergoing a NGO to Company conversion.
3)    Assist several of the transformed MFIs to establish the beginnings of a funding pipeline from commercial lenders
4)    Provide direct assistance to the GoM, as needed, to catalyze financial inclusion expansion through innovation, strategy development,  technical assistance, and other means.

Purpose of the Framework Agreement

UNCDF would like to enter into a non-exclusive Framework Agreement, also known as Long-Term Agreement (LTA), with the Results Measurement consultant who will perform the services described below on a need-basis.  In UNCDF, an LTA is a framework agreement by and between UNCDF and a company or individual where the latter may, at any time within the duration of the LTA, be required to render the agreed services at the agreed and fixed unit prices for a minimum period of 12 months, with potential extension for up to two (2) additional years, depending on satisfactory performance.

Under an LTA, UNCDF does not guarantee that any specific quantity of services shall be purchased during the term of this agreement.  The LTA does not form a financial obligation or commitment from UNCDF at the time the LTA contract is signed and that such an agreement is non-exclusive.   

Where a request for service arises, UNCDF can engage the individual on LTA through a “call-off” of the LTA.   Every call-off shall have specific tasks, scope of services and outputs to be delivered within a specific period.   For this work, the call-off shall be formalized through the issuance of a Purchase Order, attaching thereto the TOR, and any other document relevant to the call-off.  Financial commitments will only be established each time a Purchase Order for the specific services/TOR for Individual Contractor is committed.

The LTA shall have a cumulative ceiling amount that may accrue to the individual contractor during the life of the LTA, but said amount shall remain as an upper limit, and must not and cannot be interpreted nor understood as neither a financial commitment nor guarantee of business volume.

Duties and Responsibilities

Description of Responsibilities:

Within a context of the LNB project, UNCDF is looking for an International Consultant who will be responsible in:

• Provide key technical assistance in coordinating, guiding, advising, and hands-on supporting the MFI transformation process for 10 MFIs in various stages of transformation;  

• Post transformation support to the newly transformed MFIs in preparation for accessing debt financing from mostly commercial lenders and the UNCDF MDF (e.g. due diligence efforts, institutional development services);
• Work closely within the Myanmar and international lending community toward crowding in debt financing and equity, as possible, for post-transformation MFIs;

• Support UNCDF-sponsored seminars on an industry and community level with preparing of training material, logistics support, and facilitation efforts;

• Monitor the performance and support, as needed, the financial inclusion expansion through MFI partner(s) and other financial service provider(s).

Institutional Arrangement

The Consultant will work under the overall guidance of the UNCDF Country Coordinator, together with UNCDF National Programme Officer/ Financial Inclusion Officer. The UNCDF Country Coordinator will approve the consultant’s payment on the basis of the deliverables listed in these TORs.

Duration of the Work

From 15 February 2020 for 400 days technical assistance. The UNCDF Country Coordinator will review the outputs, give comments and certify approval of the consultant’s work in 2 weeks’ time from the delivery of work.

Consultancy fees for the services described in the scope of work will be paid as per deliverables and forecasted timelines.

Duty Station

Home-based, with travel to Myanmar.

The schedule of travel will be negotiated with the consultant according to the requirements of the programme. A separate TOR with clear deliverables, budget and timelines will be prepared and agreed prior to each mission within the terms of this TOR. The consultant might be requested to travel to UNCDF Regional Office or other destinations.

Competencies

• Strong analytical and writing skills and track record in producing relevant reports and other materials;
• High level of communication and interpersonal skills and experience in working effectively in a multi-cultural environment;
• Demonstrates integrity by modeling the UN’s specific values and ethical standards and acts in accordance with the Standards of Conduct for international civil servants while advocating for UNCDF’s mission and vision;
• Ability to develop creative solutions through participatory methods with various stakeholders.

Required Skills and Experience

Education

• Postgraduate qualification in Finance, Business or Economics

Experience

• At least 15 years of professional financial services experience with proven competence in microfinance, financial inclusion, due diligence, and NGO commercialization with a minimum of:
• 5 years of experience in the successful transformation of MFI NGOs to limited liability Company status;
• 8 years of microfinance management, advisory, or operations experience;
• 3 years of financial service provider due diligence experience;
• Financial service delivery experience in Southeast Asia and particularly Myanmar is a strong asset.

Language

• Fluency in English;
• Knowledge of Myanmar preferred.

Evaluation of the Candidates

Step I: Screening: Applications will be screened and only applicants meeting the mandatory criteria will progress to the pool for shortlisting.

Step II: Shortlisting (30 points)

UNCDF will produce a shortlist of candidates and technically evaluate candidates from 1 to 100% as per experience requirements in the Terms of Reference. As applicable, only applicants scoring 70% or more shall be considered for an interview.

Shortlisting scoring:

• Step Level and relevance of Education obtained; (20 %)
• At least 15 years of professional financial services experience with proven competence in microfinance, financial inclusion, due diligence, and NGO commercialization (40%)
• Financial service delivery experience in Southeast Asia and particularly Myanmar is an asset. (25%)
• Strong analytical and writing skills and track record in producing relevant reports and other materials (15%)

Step III   Interview (70 points): An interview shall be conducted to candidates having passed the test.

Step IV: Financial Evaluation: Only candidates with scores above 70% of the technical evaluation (70 Points or above) will be considered.

The following formula will be used to evaluate financial proposal: lowest priced proposal/price of the proposal being evaluated x 30%.

Financial Evaluation (Total 30 marks):

All technical qualified proposals will be scored out 30 based on the formula provided below. The maximum points (30) will be assigned to the lowest financial proposal. All other proposals received points according to the following formula: p = y (µ/z), where:

• p = points for the financial proposal being evaluated;
• y = maximum number of points for the financial proposal;
• µ = price of the lowest priced proposal;
• z = price of the proposal being evaluated.

Interested individual consultants must submit the following documents/information to demonstrate their qualifications. Proposers who shall not submit below mentioned documents will not be considered for further evaluation.

• When applying for this consultancy position, please apply with your official name as shown in the government issued identification document (e.g. passport and/or driver license). Contract award is subject to this verification;
• Personal CV or P11, indicating all past experience from similar projects, as well as the contact details (email and telephone number) of the Candidate and at least three (3) professional references; link to P11: http://sas.undp.org/documents/P11_Personal_history_form.doc;
• Cover letter explaining why you are the most suitable candidate for the advertised position. Please paste the letter into the "Resume and Motivation" section of the electronic application;
• Three professional references including name, affiliation and email addresses.
• Signed financial proposal for the assignment outlining: All-inclusive fee (including professional fees and other professional expenses, such as insurance, taxes, etc.). All Unit Prices Indicated In The Financial Proposal Shall Remain The Same For The Duration Of The IC, Including Amendments Thereto.
• Individual Consultants are responsible for ensuring they have vaccinations/inoculations when traveling to certain countries, as designated by the UN Medical Director. Consultants are also required to comply with the UN security directives set forth under dss.un.org

Women candidates are strongly encouraged to apply. UNCDF is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.

Please include all documents into one file while submitting your application.