Request For Expression Of Interest For Help Treasurer Capacity Advancement Livelihoods And Entrepreneurship Through Digital Uplift Project Scaled Up

Request For Expression Of Interest For Help Treasurer Capacity Advancement Livelihoods And Entrepreneurship Through Digital Uplift Project Scaled Up The Ministry Of Finance Mof On Behalf Of The Government Has Recently Incorporated An Apex Development Finance Institution Called Gargaara It Will Be Operating On Commercial Terms And Conditions Including Market Based Pricing And Take Care To Ensure Not To Crowd Out Private Commercial Institutions This Institution Will Work Closely With Somali Financial Intermediaries And International Development Financial Institutions Dfis To Expand Commercial Access To Finance For Businesses And Individuals With A View To Improve Lives And Livelihoods Of Ordinary Somalis Gargaara Is Set Up To Leverage Private Capital When Its Ready And Forthcoming To Encourage Entrepreneurship And Support Generation Of Jobs Through High Growth Msmes And Access To Finance This New Apex Institution Is Structured On Private Sector Principles And Will Benefit From A Range Of Innovative Approaches And Blending Tools To Attain A Far Greater Leverage Of The Us 15 Million Initial Public Funds Being Injected Through The Somalia Capacity Advancement Livelihood And Entrepreneurship Through Digital Uplift Project Scaled Up A Us 31 Million Four Year World Bank Project That Aims To Support Progress Towards Increased Access To Basic Digital Financial And Government Services Targeting Entrepreneurship And Employment Particularly For Women Further Down The Line Gargaara Will Be Opened To Sequential Private Sector Investment And Shareholding Through Follow On Fund Raising From International Sources Including Dfis Thereby Sustaining The Most Dynamic Msmes And Provision Of Jobs In A Capital Constrained Environment The Mof Intends To Use Part Of The Proceeds From Scaled Up To Hire And Individual Consultant Treasurer And Operationalize Gargaara As An Apex Institution To Deliver Financing To Participating Financial Intermediaries Pfis For On Lending To Somali Businesses And Individuals The Objective Is To Kick Start Financial Intermediation For Underfunded Msmes Representing The Core Of The Somali Economy Including Women

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