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316 - Microfinance Cost Analyst - Ramallah

Application Type : External Vacancy
Job ID/Title : 316 - Microfinance Cost Analyst
Category : Governance and Poverty Reduction
Brand : UNDP
Post Level :
Application Deadline : 19-Apr-10
Duty Station : Ramallah
Type of Contract : SSA,
Post Number :
(for 100 Series Contracts)
Languages Required :
 Arabic, English,
Starting Date :
(date when the selected canditate is expected to start)
Duration of Initial Contract : Six Weeks
Expected Duration of Assignment :
Background:

Deprived Families Economic Empowerment Programme (DEEP) was launched in 2007 as a pilot programme to support chronically poor and hard-hit families in the occupied Palestinian territories. The programme is 30 million dollar programme funded by the Islamic Development Bank (IDB) and executed by the United Nations Development Programme/Programme of Assistance to the Palestinian People (UNDP/PAPP) for the benefit of the Palestinian Authority.

DEEP set out to help poor households which have been relying on relief and humanitarian assistance programmes to graduate from poverty through two main service lines: economic empowerment grants and Islamic microfinance. The programme relies on 16 partner NGOs and 6 MFIs to deliver these services.

The programme is based on participatory methodology which engages the partner organisations and the households in designing and implementing the interventions. These interventions are, for the most part, small income generating activities that are designed based on a thorough analysis of the needs of each household and customised to its capacity. In addition to support in setting up the income generating activities, the partner NGOs are required to provide business development support to the beneficiaries that will enable them to sustain and expand their projects.

The programme’s highest governance authority is the Board of Trustees which is composed of senior representatives of the ministries of Social Affairs, Labour and Planning, in addition to the UNDP and the IDB. The Board of Trustees is headed by the Minister of Social Affairs.

The programme relied on Islamic microfinance methodology which was provided by specialised microfinance institutions with extensive experience in the field. As a result of the complex economic and political situation in the oPt, these institutions were not able to reach financial sustainability except for short period of time and only for some of these institutions. These institutions have been subject to little supervision and monitoring which are required to further develop them and enhance their efficiency and improve their financial services. The programme issued loans to these institutions amounting to 6 million dollars. The institutions used these loans in lending 1800 microentrepreneurs. A revolving fund is slated to be established for the institutional loans to be paid back to in order to sustain their services to the poor.

Description of Responsibilities:
·         Study the pricing mechanisms for financial services applied by the six MFIs.
·         Identifying the fair price that would cover operational and financial costs while reducing the costs born by the beneficiary without jeopardising the sustainability of the MFI’s services
·         Defining the risk management mechanism in the institutions and the methods used in linking this risk to the pricing
·         Developing formulae for the ideal pricing for each institution which links the cost factors for each product with its price
·         The study should also include a set of recommendations that can be applied to reduce the cost of delivering financial services to the poor and more efficient risk management that would ultimately lead to lower prices and would chart this process according to a clear time plan.
 
 
Scope of Work
 
The consultant will undertake the study of the 6 partner MFIs working within the West Bank. As the majority of the activities undertaken to date by the MFI’s have been West Bank based, it is also required to  identify how to apply the study results in the Gaza Strip taking into consideration the differences in the operational and financial costs between West Bank and the Gaza Strip .
 
 
Deliverables
 
·         A draft report should be submitted within 4 weeks of commencement of contract, covering the following elements:
o   main findings
o   lessons learned
o   recommendations
o   formulae for the ideal pricing for each institution which links the cost factors for each product with its price and the main findings
      Report should be provided in Arabic and English languages
Feedback will then be provided to the consultant related to the draft report from UNDP, following which the consultant should submit a final report within 1 week of receiving such feedback
 
·         A presentation on the study to be delivered to stakeholders through a special workshop
 
Competencies :
Qualifications :
 
  • Master Degree in Finance, Economics, Business Administration or Related Field
·         Minimum of 10 years experience in microfinance, banking or academia
·         Experience in Islamic microfinance is desired and knowledge of best practices in Islamic microfinance is an advantage
·         Research and consultancy experience is required
·         Experience and  knowledge in financing and establishing small and micro enterprises is required
·         Knowledge of international experiences in microfinance is an advantage
 
The consultant should ensure that the CV includes a completed list of previous experience in consultancy work of a similar nature, highlights related knowledge of Islamic microfinance and any international experience with microfinance.

       “UNDP/PAPP is an equal opportunity employer

 Applications from men and women will be considered equally”

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