Study to Advise on Improving the Long-term Sustainability of the Students’ Revolving Loan Fund- Barbados

GOVERNMENT OF BARBADOS

CONSULTANCY SERVICES TO CONDUCT A STUDY TO ADVISE ON IMPROVING THE LONG-TERM SUSTAINABILITY OF THE STUDENTS’ REVOLVING LOAN FUND

REQUEST FOR EXPRESSIONS OF INTEREST

The Government of Barbados (GOB) has received financing from the Caribbean Development Bank (CDB) to assist the Students’ Revolving Loan Fund (SRLF) in the financing of subloans for students pursuing tertiary level education, as well as to assist the GOB in financing the cost of conducting a study in the form of a Diagnostic Review of the operations of SRLF. The GOB intends to apply a portion of the proceeds of this financing to eligible payments under a contract for which this invitation is issued.

Payments by CDB will be made only at the request of GOB and upon approval by CDB, and will be subject in all respects to the terms and conditions of the Financing Agreement. The Financing Agreement prohibits withdrawal from the financing account for the purpose of any payment to persons or entities, or for any import of goods, if such payment or import, to the knowledge of CDB, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations. No party other than GOB shall derive any rights from the Financing Agreement or have any claim to the proceeds of the Financing.

GOB now wishes to procure consultancy services to undertake a study to advise on improving the long-term sustainability of the SRLF.

The objective of the consultancy is to conduct a Diagnostic Review of the SRLF operations and make recommendations for the development of a long-term strategy for the operations of the SRLF, with particular emphasis on improving its long-term viability and sustainability,

The duration of the assignment is expected to be for a period of six (6) months.

GOB now invites interested eligible consulting firms to submit Expressions of Interest for the provision of these consultancy services.

Consultants shall be eligible to participate if:

(a) in the case of a body corporate, it is legally incorporated or otherwise organised in an eligible country, has its principal place of business in an eligible country and is more than 50 per cent beneficially-owned by citizen(s) and/or bona fide resident(s) of eligible country(ies) or by a body(ies) corporate meeting these requirements;

(b) in the case of unincorporated firms, the persons are citizens or bona fide residents of an eligible country; and

(c) in all cases, the consultant has no arrangement and undertakes not to make any arrangements, whereby any substantial part of the net profits or other tangible benefits of the contract will accrue or be paid to a person not a citizen or bona fide resident of an eligible country.

Eligible countries are member countries of CDB. The attention of interested Consultants is drawn to paragraph 1.9 of CDB’s Guidelines for the Selection and Engagement of Consultants (2011), setting forth CDB’s policy on conflict of interest.

Principal qualifications and experience required to conduct the assignment include:

(a) at least the following requisite qualifications and experience are required:

(i) In-depth knowledge of economics, finance, banking operations, procedures, relevant laws and policies governing credit programmes;

(ii) In-depth experience in market research, trend analysis, and development of strategic plans; and

(iii) In-depth knowledge of financial institutions, corporate governance, financial modelling, student loan programmes, and experience in research and organization planning design and policy development.

(iv) Sound knowledge of accounting principles and best practices and familiarity with The International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards (IFRS).

(b) experience in the management of similar projects would be an asset; and

(c) resources with excellent written and verbal communication skills.

All information must be submitted in English. (Two (2) hard copies of the Expressions of Interest must be received at the first address below no later than June 19, 2017 at 4:30 P.M (Barbados Time) and one (1) hard copy must be sent simultaneously to CDB at the second address below. The sealed envelope containing each submission should include the name and address of the applicant and shall be clearly marked “Expression of Interest – Consultancy Services to Perform a Study to Advise on Improving the Long-term Sustainability of the Students’ Revolving Loan Fund.”

In the assessment of submissions, consideration will be given to technical competence, qualifications and experience, including those stated above, local and regional experience on similar assignments, financial capability and existing commitments. The Consultancy Firm must demonstrate familiarity with the operations of development financial institutions and knowledge of student loans schemes. Following the assessment of submissions, a shortlist of not less than three and not more than six firms with representation from at least two member countries, and at least one firm from a developing country, unless no qualified firm from developing countries could be identified. Short-listed firms will be provided with full terms of reference, and invited to submit technical and financial proposals to undertake the assignment.

GOB reserves the right to accept or reject late applications or to cancel the present invitation partially or in its entirety. The GOB will not defray any costs incurred by any applicant in the preparation and submission of Expressions of Interest. Further information may be obtained from the Administrative Manager at ajohnson@srlfloan.edu.bb or telephone number below between 9:00 a.m. and 4:00 p.m. hours Monday to Friday.

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