Loan No.: 84410-NG
Assignment Title: Technical Assistance for Commercial Banks in Nigeria to Downscale their Operations to Micro, Small, and Medium Enterprises in a Sustainable and Commercially Viable Fashion
Reference Number: FMF/DF Project/REOI/001/2017

The Federal Government of Nigeria (FGN) has obtained a loan from the International Bank for Reconstruction and Development and intends to apply part of the proceeds of this loan to engage qualified consulting firm(s) for the implementation of Technical Assistance to select Commercial Banks to downscale their operations to service the needs of micro, small and medium enterprises (MSMEs) in a sustainable and commercially viable fashion.

This technical assistance is planned in the context of the establishment of the Development Bank of Nigeria (DBN), a wholesale development bank licensed by the Central Bank of Nigeria, that will provide long term financing and partial credit guarantees to eligible financial intermediaries for on-lending to MSMEs. In addition to the World Bank, the DBN is supported by other development partners including the African Development Bank (AfDB), European Investment Bank (EIB), German Development Bank (KFW) and French Development Agency (AFD); with a combination of equity, debt financing, and technical assistance support.

The Federal Ministry of Finance (FMoF), which is the implementing entity for the technical assistance component of the project, is currently conducting the selection of commercial banks, with the support of an expert consultant; to ensure their eligibility and interest in a technical assistance facility, along with a preliminary assessment of their technical assistance needs that will inform the detailed terms of reference (including technical assistance tasks, time frames, objectives and deliverables) to be included in the Request for Proposal (which will be sent to short listed firms, following this Expression of Interest stage).

The consulting services (“the Services”) are envisaged to include:
(i) institutional assessment of each of the selected commercial banks to determine specific strengths, weaknesses, technical shortcomings and gaps, including staffing level and capacity for lending to MSMEs; (ii) formulation of a detailed Technical Assistance (TA) plan which outlines measurable goals and objectives to be accomplished within a defined time-frame including certain time bound deliverables on part of the commercial bank;
(iii) inputs for the Technical Cooperation Agreement (TCA) to be signed between each commercial bank and the FMoF, outlining agreed services to be provided and commercial bank obligations under the technical assistance program;
(iv) implementation of an agreed TA plan which could include: (a) modifying processes and procedures for loan eligibility, loan criteria per MSME product, product pricing, client documentation and the loan review cycle; (b) training and mentoring of account officers, relationship managers, branch managers, MSME managers, credit committee and risk staff on cash flow based lending from pre-screening through monitoring (c) development of manual and automated credit analysis tools and forms (d) MSME segmentation development on product usage by segment, segment targeting, product design and/or modification for specific segments (e) advice to client MSMEs, in the context of the loan application process, on relevant requirements (e.g. adequacy of financial records) for accessing loans (f) enhancing technology platforms on data analysis, segment targeting, debt service capacity, cash flow funding structures, expedited loan origination, portfolio servicing, monitoring and risk management (v) completion report including evaluation of commercial bank capacity for MSME lending. The details of above outlined Services are contingent on the detailed terms of reference that will be provided in the Request for Proposal stage.

The FMoF invites eligible consulting firms (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services.

The shortlist criteria are:
(i) Evidence of at least 10 years of demonstrated international experience with similar advisory projects related to MSME finance (in the case of a joint venture this will apply at least to the lead consulting firm).
(ii) Evidence of international experience with at least two commercial bank downscaling projects in different regions (e.g. China, Russia, Eastern Europe and Central Asia, Africa) financed by international development institutions such as the World Bank Group, European Bank for Reconstruction and Development, and/or others as relevant.
(iii) Evidence of demonstrated experience of setting up sustainable MSME finance units in large commercial banks and supporting banks to reach out to MSMEs beyond their traditional client base.
(iv) Evidence of extensive capacity building experience with the understanding and usage of appropriate (e.g. cash-flow based) lending techniques, required in environments where MSME’s financial record keeping and access to collateral is limited, and where weaknesses in the financial infrastructure inhibit efficient foreclosure on collateral.

Interested Consultants should provide the following information as part of their Expression of Interest:
(i) Firm qualifications and details of relevant experience specifically responding to each of the shortlist criteria above and including a brief description of the scope of the projects, the dates of implementation, budget and the funding organization;
(ii) To illustrate achievement and sustainability the expression of interest should indicate measurable results following the cited interventions (e.g. number of partner banks, volume and number of outstanding MSME loans per annum and over the period of the program, portfolio quality, average size of outstanding SME loans, number of SME loan per SME loan officer and/or other indicators as relevant).
The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD and IDA Credits & Grants by World Bank Borrowers, May 2011, revised in July 2014 (“Consultant Guidelines”) setting forth the World Bank’s policy on conflict of interest. Consultants may associate with other firms in the form of a joint venture or a sub-consultancy to enhance their qualifications.

A Consultant will be selected in accordance with the Quality and Cost Based Selection method set out in the Consultant Guidelines.
Further information can be obtained at the contact information below during office hours (0900 to 1700 hours Monday- Friday)

Expressions of interest must be delivered in a written form either to the address below (in person, or by mail or fax) or preferably e-mail by August 31, 2017
Director, International Economic Relations
Attn: Procurement Specialist
Project Implementation Unit (PIU)
Development Finance Institution (DFI)
Room 427,4thFloor
Federal Ministry of Finance,
Ahmadu, Bello Way, Abuja.
E-mail: [email protected]


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