Expression of Interest For Program Coordinator-Building Credit Reporting Infrastructure

Expression of Interest for Program Coordinator-Building Credit Reporting Infrastructure in Somalia There is no formal credit reporting or any type of formal private sector data sharing arrangements in Somalia yet. The private financial sector does not have adequate tools and information to assess the risks associated with MSMEs and individuals and thus chooses not to provide financing to them. The market has limited use for scoring applications or automated account management systems, as the low number of applications make it difficult to build statistical models. Within the context of the above, IFC is supporting THE CENTRAL BANK OF SOMALIA (CBS), in the development of a credit information ecosystem that meets the needs of Somalia and supports financial institutions to make data driven lending decisions. IFCs initiative aims to expand access to finance for individuals and MSMEs by improving their credit risk management processes of the financial institutions through deploying a credit information system. IFC is looking to engage a Consultancy firm (Program Coordinator) to help coordinate project implementation and provide in-country financial sector expertise/support to the Task Team Leader (s) and Specialists. Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/5629/view.html