National Consultant- To Conduct a study on the implication of increasing cost of external borrowing and to develop borrowing strategies in the context of Bangladesh’s graduation to the middle-income country group
Home Based - May require travel
With this backdrop, the Government of Bangladesh (GoB) has started developing a roadmap on how the country will manage the challenges associated with the graduation. For example, as Bangladesh continued to grow, the share of grants in the total external financing has been consistently reducing over the last 50 years and during the FY 2020-21 it was only 6.39% of the total disbursements of external financing. This implies that in future the GoB may need to engage more of its own resources and/or increase external borrowing to implement the development projects. At the same time, as attainment of higher growth has increased repayment capacities of the economy, the development partners have started indicating that extremely concessional financing meant for the LDCs might shrink over the coming years.
Economic Relations Division (ERD) is mandated to mobilize external resources for socio-economic development of Bangladesh. As the focal point of the Government, ERD interacts with the development partners as well as coordinates inflow of all external assistance into the country. The role includes functions of assessing the needs of external assistance, devising strategy for negotiations and mobilizing foreign assistance, strengthening relations among the development partners, ministries and divisions and acting as a catalyst for opening suitable new channels of external financing.
With the graduation, it is expected that strategies related to the conventional borrowing mix will change and hence ERD need to develop in-house capacity to conduct such analysis so that it may provide strategic direction for the Ministry of Finance with regard to mobilization and allocation of resources required for national development
Description of the Assignment
This consultancy is to assist Economic Relations Division (ERD) to assess the implication of increasing cost of external borrowing and to develop borrowing strategies in the context of Bangladesh’s graduation to the middle-income country group. The consultant will conduct in-depth analysis to elaborate various scenarios associated with expected increasing cost of borrowing in future and will support ERD to develop comprehensive strategies to mitigate the corresponding risks
Duties and Responsibilities
Scope of Work
The following list reflects the main activities that the consultant is expected to carry out within the contractual period:
- Reviewing the ERD’s relevant policy documents regarding external resource mobilization, flow of external resources and national planning documents (e.g. 8th FYP, SDGs, perspective plan, Delta Plan 2100 etc.);
- Analyzing the existing sources of foreign financing and assess the impact of the current financing sources on national economic development;
- Exchanging opinions with key stakeholders including ERD, Finance Division, Bangladesh Bank, other line ministries and divisions, bilateral and multilateral Development Partners, private sector and civil society;
- Conducting review of relevant literature of the development partners (strategic documents on programme and financing) to identify scopes of low-cost borrowing in the post LDC graduation context;
- Prepare a strategy/ framework for accessing foreign assistance with low costs and favorable terms;
- Preparing a strategy/ framework for transitioning to less concessional and non-concessional external financing from the existing concessional financing;
- Drawing scenarios elaborating probable impact on the debt portfolio owing to the transition to less concessional and non-concessional external financing from the existing concessional financing
- Review of relevant documents: The consultant will review relevant policy documents of the Government and Development Partners.
- Stakeholder meeting/interview: S/He will also meet with the Government officials, respective persons from bi-lateral and multi-lateral Development Partners, private sector and civil society.
- Data Collection: Collecting and preserving qualitative and quantitative data and information.
- Reporting: S/he will draft, incorporate feedback, validate and finalize the study report.
Deliverables and Payment milestones
Number of workdays
Percentage of payment
Submit an Inception report with a detail methodology, workplan with timeline for the assignment.
Mid October 2022
Prepare and submit first draft of the study Report
Mid November 2022
Submit final study report after validation of the draft report
Mid December 2022
Travel: The consultancy will be home based with required visits to the stakeholders within Dhaka City. No field visit is required for this consultancy
National Project Director of K4DM Project Phase-II will be the contract administrator for the assignment and with the guidance of National Project Director, the National Project Manager will supervise the activities of the consultant, evaluate her/his performance and approve the deliverables.
During the contract period, S/he will prepare the action plan for the assignment with the guidance of the National Project Director, Deputy Project Director, National Project Manager and relevant personnel of the project through meetings and interviews. The consultant will also prepare final reports on the agreed deliverables and upon successful accomplishment of the deliverables and acceptance of the final reports final payment will be made.
Knowledge for Development Management (K4DM) Phase-II project will provide logistical support as required for smooth accomplishment of the assigned works.
Duration of the Work and Duty Station
The duration of the assignment for the Consultancy will be 60 working days over a period of Three (3) months starting from Mid-September 2022 to Mid-December 2022. The Consultant is expected to assume her/his duties in the upon signing of the contract. The assignment primarily home-based with occasional visits to the stakeholders.
- Inception report with a detail methodology, workplan with timeline for the assignment.
- First draft of the the study Report covering all the areas mentioned in scope of work.
- Final study report after validation of the draft report.
- Demonstrates integrity by modeling the UN’s values and ethical standards (human rights, peace, understanding between peoples and nations, tolerance, integrity, respect, results orientation (UNDP core ethics) impartiality.
- Promotes the vision, mission, and strategic goals of UNDP.
- Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability.
Research and analysis
- Able to carry out research and analyses using latest methods and tools.
- Willing to promote organizational learning and knowledge sharing.
Job Knowledge/Technical Expertise:
- Strong interpersonal and communication skills.
- Strong analytical, writing and presentation abilities.
- Openness to change and ability to receive/integrate feedback.
- Ability to work under pressure and tight deadlines.
- Demonstrates integrity and ethical standards.
Required Skills and Experience
Minimum eligibility criteria for this position:
Minimum Master’s Degree in Social Sciences especially in Economics, public policy, public finance and Development Studies.
- Minimum 10 years of working experience of conducting research and developing strategies in the relevant areas.
- Practical experience of working with the government, multilateral and bilateral agencies and civil society organizations.
- Experience in the usage of computers and office software packages and advance knowledge of spreadsheet and database packages.
Excellent written and verbal communication skills in English are required
Evaluation Method and Criteria
Individual consultants will be evaluated based on the following methodology:
The award of the contract shall be made to the individual consultant whose offer has been evaluated and determined as
a) responsive/compliant/acceptable; and
b) having received the highest score out of the set of weighted technical criteria (70%) and financial criteria (30%). The financial score shall be computed as a ratio of the proposal being evaluated and the lowest priced proposal received by UNDP for the assignment.
Only individual obtaining a minimum of 70% (i.e. 49 points out of 70 points) in the technical analysis would be considered for the financial appraisal.
Technical Criteria (Maximum 70 points)
Education background and academic attainment
Experiences in conducting research and developing strategies
Overall experience of working in the relevant areas with the government, multi-lateral and bi-lateral agencies and civil society organizations.
Financial Evaluation: All technical qualified proposals will be scored against a maximum of 70 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:
DOCUMENTS TO BE INCLUDED WHEN SUBMITTING THE PROPOSALS
Interested individual consultants must submit the following documents/information to demonstrate their qualifications. All the documents should be grouped into one (1) single PDF document as the application only allows to upload maximum one document:
- Duly accomplished Letter of Confirmation of Interest and Availability using the template provided by UNDP in Annex II.
- Personal CV and/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.
- Financial proposal, including fees, travel cost, DSA, workshop arrangement like snacks, folders, papers and other relevant expenses: as per template provided in Annex II.
1) The financial proposal shall specify a total delivery amount (in BDT) including consultancy fees and all associated costs) i.e. travel cost, subsistence per diems, printing costs, consultation workshop and interview costs and overhead recharges.
2) In order to assist UNDP in the comparison of financial proposals, the financial proposal will include a breakdown of this amount. This must at least specify: the daily rates and number of anticipated working days, any travel costs and overhead recharges. Payments will be based upon the deliverables specified in the ToR. The cost of preparing a proposal and of negotiating a contract, including any related travel, is not reimbursable as a direct cost of the assignment.
Note: Incomplete proposals may not be considered
The Consultant must submit a detail financial proposal and a summary budget as per the template.