1. Background
The Alliance for Financial Inclusion
The Alliance for Financial Inclusion (AFI) is the world’s leading organization on financial inclusion policy and regulation. Currently, nearly 100 member institutions make up the AFI network including central banks, ministries of finance and other financial policymaking or regulatory institutions from over 85 developing countries and emerging markets. AFI empowers policymakers to increase the access and usage of quality financial services for the underserved through sustainable and inclusive policies and an effective use of digital technologies.
Policies developed and implemented by the members of the Alliance contribute to a range of the Sustainable Development Goals. by Setting their own agenda, AFI members harness the power of peer learning to develop practical and tested policy reforms that enhance financial inclusion with strategic support from both public and private sector partners.
AFI has 7 Working Groups (WGs): Consumer Empowerment and Market Conduct Working Group (CEMCWG), Digital Financial Services Working Group (DFSWG), Financial Inclusion Data Working Group (FIDWG), Financial Inclusion Strategy Peer Learning Group (FISPLG), Global Standards Proportionality Working Group (GSPWG), Inclusive Green Finance Working Group (IGFWG) and SME Finance Working Group (SMEFWG).
As the key source of policy developments and trends in financial inclusion and as the primary mechanism for generating and incubating technical content in the network, the Working Groups serve as “communities of practice”. Providing a platform for knowledge exchange and peer learning among policymakers to share, deliberate and deepen their understanding, the working groups offer leadership and expertise in their respective policy fields and support the network to monitor new developments in emerging fields.
The knowledge generated via the working groups is disseminated for implementation by a range of capacity building activities such as Joint Learning Programs, Member Trainings, Trainings by Private Sector Partners. The practical experience members garner from engaging in peer learning based capacity building is then applied by members as in country implementation projects which are supported by the provision of financial or technical support to AFI member institutions in conducting activities that aim to deliver financial inclusion policies, regulations, supervisory tools or enablers for the development of policies, such as national financial inclusion strategies
The working groups receive strategic guidance and insight from the High-Level Global Standards & Policy Committee, while the Gender Inclusive Finance Committee, supports WGs in integrating gender considerations into all aspects of their work and support members in fulfilling their Denarau Action Plan (2016) commitment to promote women’s financial inclusion.
AFI members have made further commitments in a range of other accords which can be read here.
The AFI’s five regional initiatives support policy implementation in Africa (AfPI), Latin America and the Caribbean (FILAC), the Pacific Islands (PIRI), Eastern Europe and Central Asia (ECAPI) and the Arab Region (FIARI).
**
2. Project Background
In the Arab region, one out of every five persons is between 15-24 years old, and more than half of the population is below the age of 25.
Youth financial inclusion in the Arab region is crucial in advancing a sustainable social economic growth. However, its young population have the lowest level of financial inclusion in the world: 21 percent. Only 13 percent reported that they have a debit card and 10 percent used the internet to pay a bill or buy something online over the previous year (Global Findex Database, 2017).
In this region, 23 percent of youth are facing unemployment which has been notably higher than the rest of the world for at least the past three decades. Furthermore, while the unemployment rate for both young women and men in the region increased between 2012 and 2020, it has increased at a much faster rate for young women. As such, in 2020, the unemployment rate amongst young women in these economies was estimated to be 42.1 % which was more than double that of young men (19.8 %) (ILO, 2020).
A staggering 85.1% of young working-age are in the informal sector, with limited or no access to social and health insurance or credit facilities, and 1.5 million of young people enter the informal sector yearly.
The impact of COVID-19 has hit youth disproportionally. For young people, and especially for vulnerable youth, crisis poses considerable risks in the fields of education, employment, mental health and disposable income. Youth are overrepresented in informal economic sectors ravaged by the COVID-19 pandemic. Millions of young Arabs are at risk of plunging deeper into poverty, especially those living in rural areas and those with disabilities, as well as young women who are impacted the most.
Against this backdrop, in 2019, the AFI network endorsed the Kigali Statement committed to support members to accelerate financial inclusion of disadvantaged groups including the young population.
Youth need financial education, especially young women, to increase their skills and competencies empowering them to take effective financial decisions. In addition, access to financial services enables youth to open new formal businesses and MSMEs. The challenges facing the youth segment of the population in the region require swift policy interventions, and in this context, inclusive finance solutions according to their needs and different life stages.
**
3. About the Youth initiative in the Arab region
This initiative aims to support the high interest and commitment of AFI members in the Arab region in the development and implementation of impactful and sustainable policies to advance the agenda on youth financial inclusion in their jurisdictions.
AFI members in the Arab region have been making progress in this area integrating youth into National Financial Inclusion Strategies (Tunisia, Morocco, Palestine and Jordan), implementing policies and regulations to financially include them more and benefit from their potential to participate and contribute to a social and economic sustainable growth.
The Youth initiative in the Arab region has the following key objectives:
Mainstream 2 relevant AFI publications: Youth Financial Inclusion Policy Framework and Guideline note on “Integrating Youth Into A National Financial Inclusion Strategy” among Arab region AFI members.
Identify the pathways to implement high impact solutions among Arab region AFI members to advance the agenda on financial inclusion for youth focused on the 4 pillars of the Policy Framework (Data collection, National Strategies, Regulatory Reforms and Public Policies and Non-Regulatory Interventions).
Support Arab region AFI members to implement the pathway through in-country implementation programs including technical support and capacity building.
Enhance the capabilities of financial sector regulators and policymaking institutions among Arab AFI members to effectively develop and implement policies and regulations tailored to young people, including young women and Forcibly Displaced Populations.
Enable effective peer learning exchanges amongst AFI members in the Arab region and across the AFI network on the broad thematic and on the lessons learnt.
Get an updated information and insights from Arab region AFI members in this policy area which will constitute a base line to start tracking the progress of the implementation of the pillars of the Policy Framework in this region.
Support Arab region AFI members to propose Maya Declaration Commitments related to the development of regulations, policies or initiatives aiming to advance the agenda for youth financial inclusion in the Arab region.
This initiative seeks to contribute to achieve 3 of the strategic objectives in this region:
- Enhance awareness and capabilities to support youth challenges
Sensitize AFI members, public and private institutions, and partners in the Arab region on the youth needs, challenges, and potentials through fruitful and impactful peer learning exchanges and platform discussions (PPD, 3D) that will benefit to the Arab region and to the global AFI network.
- Strengthen the relations with AFI members from the Arab region
Enhance AFI member relations engagement in the Arab region on the youth policy area.
- Build the leadership of AFI in the region
Enhance AFI leadership in the Arab region on the youth theme and related AFI policies areas (digital financial services, national financial inclusion strategy, financial inclusion data, gender inclusive finance, small and medium enterprises) by the recognition of its added value in the support of Arab region AFI members to develop policies toward youth and through the facilitation of new partnerships with Arab donors, partners and academia that could support or contribute to the Initiative.
**
4. Main deliverables of the Initiative
The 5 interlinked deliverables of this initiative are the following:
a) High-level workshop
Objectives:
- Present the landscape on the young population situation in the Arab region, (in AFI members jurisdictions and beyond)
- Present the AFI Youth Financial Inclusion Policy Framework and the Guideline Note “Integrating youth into a NFIS”
- Showcase country initiatives on youth financial inclusion from the Arab region (and other relevant from other AFI regions)
- Present some examples of Maya declaration commitments (MDC) on youth among the AFI network
- Provide general recommendations for the pathway to advance youth financial inclusion in the Arab region within AFI members jurisdictions.
b) 2 technical workshops
Objectives:
- Discuss the pathways for implementing the pillars of the Policy framework on youth financial inclusion in their countries.
- Identify the support that AFI members need from the AFI services perspective (Knowledge exchanges, Capacity building, Policy guidance, In-Country Implementation programs, etc) to adapt the Policy Framework for Youth financial Inclusion in their jurisdictions.
- Elaborate in partnership with members an action plan to support AFI members to increase their capabilities for developing and implementing policies for youth inclusion.
c) Regional capacity building
Objectives:
- Enhance the AFI members capabilities to translate the knowledge generating in this policy area into concrete actions that meet specific youth financial inclusion goals.
- Enable effective peer learning amongst AFI’s policymakers and regulatory membership on promoting youth financial inclusion through data collection, national strategies and policy changes.
- Provide examples and case studies of impactful regulatory and policies changes among AFI members in the arab region and in other AFI regions.
d) Public-Private Dialogue (PPD) Training
Objectives:
- Provide cases of cutting-edge innovations led by the private sector partners to promote youth financial inclusion.
- Identify potential private-public collaborations for the implementation of innovative solutions to advance youth financial inclusion.
e) Special report
Objectives:
- Provide a general landscape of the youth financial inclusion in the Arab region: gather information and data from AFI member institutions (with support from AFI Management Unit) and from the literature review on youth financial inclusion considering at least: data on access, usage, quality, levels of financial education, barriers and main challenges to access to the formal financial system and other relevant variables pertinent for the analysis (COVID-19 impact on youth and young women, levels of informality, employment, rate of entrepreneurship, etc)
- Analyze how financial regulators are tackling the risks, challenges and opportunities that COVID-19 brings in relation to youth financial inclusion (presenting good practices and lessons learnt).
- Provide strategic recommendations on effective and innovative financial regulatory policies for the region.
- Propose the key pathways for enhancing youth financial inclusion in Arab region AFI members through the AFI Policy framework
o Present an action plan to be developed with Arab region AFI members through the technical workshops, and followed up on a regular basis, to support them to enhance youth financial inclusion in their jurisdictions.
The analysis should include policies to leverage the potential of digital financial services in the crisis, as well as policies to support the Youth MSME sector. In addition, gender policy considerations should be integrated in this Special Report as cross cutting-theme, along with considerations of the impact on other disadvantaged population segments, as defined by the AFI Network’s “Kigali Statement”.
**
5. Scope of Work
The work expected from the consultant is the following:
Design of the work plan of the 2 physical technical workshops and their implementation (one in June and the other in July 2022, half day- duration) for at least 15 participants.
The consultant is expected to:- Prepare the technical content to be discussed with AFI members on how to adapt and implement the pillars of the Policy Framework in their jurisdictions.
- Coordinate a group discussion with AFI members on their main challenges and limitations to advance financial inclusion within young population in their jurisdictions. Assessment of AFI members understanding and appropriation of the AFI policy framework (4 pillars).
- Elaborate, in partnership with AFI members, an action plan to support them to enhance youth financial inclusion in their jurisdictions according to the AFI Policy framework and to increase their capacities for developing and implementing policies for youth inclusion. A tool to monitor the progress will also need to be included. In addition, this work will incorporate an assessment of their needs in terms of policy guidance, capacity building, peer learning exchanges or technical support.
Prepare and lead a session of the High-level Event regarding the current landscape of youth financial inclusion in the region
- Prepare a special session for presenting the landscape of the youth financial inclusion in the Arab region including recommendations on how to advance the agenda of youth financial inclusion based on the information gathered and AFI relevant publications.
- Moderate discussions during the special session
- Collect feedback and comments on the landscape and recommendations presented to the audience to be included in the final special report.
Development of the Special report
Propose a provisional Special Report outline, to be agreed with AFI Management Unit.
Incorporate the main outcomes of specific discussions, experiences, and learnings by AFI financial regulators during the 2 technical workshops and High-level Event.
Following review of the draft report by AFI Management Unit and members, submit a final draft taking account of comments and feedback received, and a comment tracker detailing how comments received have been responded to.
**
6. Travel
Travelling is expected in this assignment during the implementation of the High- Level workshop and the 2 technical workshops, to be hosted by a AFI member institution in the Arab country (to be confirmed)
7. Timelines
Deliverables - Timeline
**
Fourth week of April 2022:
- Inception meeting with the consultant. Preliminary consultation on the scope, expected deliverables and related timelines
Second week of May:
Presentation of the Work Plan of the 2 Technical workshops
Preparation of the content of the landscape on youth financial inclusion in the Arab region
Fourth week of May 2022:
- Draft of the landscape on the youth financial inclusion to be reviewed and approved by AFI before the HL event
June 2022:
Lead one session of the High-level workshop (presentation of the landscape of the youth financial inclusion in the Arab region and provision of general recommendations)
Implementation and coordination of the First technical workshop
(including discussions to assess understanding and needs)
Last week of June:
- First draft of the special report to be shared for comments and feedback from AFI Management Unit, AFI members and other stakeholders
First week of July:
- Implementation and coordination of the Second technical workshop (including a session to discuss and hear feedback from members on the content and structure of the special report draft)
- Discussions to elaborate an action plan.
Fourth week of July:
- Second draft of the special report to be shared for comments and feedback from AFI Management Unit, AFI members and other stakeholders
First week of September:
- Final version of the special report**
8. Consultant Experience
The consultant or consulting firm undertaking this assignment should have the following qualifications:
- 10+ years of professional experience in financial inclusion policies and programs on youth and women in the Arab region.
- Previous solid experience working directly with Central Banks and other financial regulatory entities in the financial inclusion area in the Arab region.
- Fluency in English (oral and writing) is compulsory.
- Excellent written, presentation and communication skills in the English language.
- Having Arabic and French language proficiency is an added advantage.
- Advanced degree in a field related to Economics, Public Policy, International Development, or another related discipline.
**
9. Reporting
Throughout the contract period, the Consultant will report to the Policy Manager and Arab region Manager at AFI.
During the consultant’s work on this project, AFI Management Unit will support the deliverables by: providing information of the already implemented programs relevant for this initiative; facilitating contact with AFI’s members for requesting information, sharing desk research, internal information and literature review to support the Special Report preparation.
**
10.Proposal Submission Information:
- Conflict of Interest acknowledgement & sign off [Mandatory]
- Workplan [Mandatory – if stated/required]
- Company Registration [Mandatory]
- Company Profile
- Full CVs of lead and support consultant highlighting relevant work
- List of previous or current clients with whom similar work has been conducted
- At least one (1) sample (link or attachments) of a published technical paper on financial inclusion authored exclusively by the lead consultant.
- Reference letter (if any);
- Disclosure statement, if individual has full time or part time employment contract with any organization or government official or indirect involvement in this tender;[Mandatory – for individual participant]
Submission of Technical and Financial Proposals:
- Kindly submit technical proposal using the template given in annexure 1 and financial proposal using the template given in annexure 2, along with the documents listed above
- Technical and financial proposal must be submitted in two separate PDF files, using the given
- The two proposals are to be submitted to the designated email
AFI reserves the right to disqualify incomplete submission and
non-compliance to the above requirements. Notification result will only be sent to shortlisted candidates upon completion.
****
11. Criteria for Evaluation
Technical Scoring
1. Academic Qualification - 10%
**
2. Experience and technical competence of the key staff for the assignment - 40%
**
- *Adequacy for the assignment (*20%)
**
- *Regional/Global experience (*20%)
**
3. Adequacy of the proposed work plan and methodology in responding to the Terms of Reference - 40%
**
- *Technical approach and Methodology (*20%)
**
- *Workplan (*20%)
**
4. Sample work – Relevance to Assignment and demonstrated experience in writing - 10%
**
Total: 100
****
**
Evaluation of technical and financial proposals
The evaluation and decision on the best proposal will be made based on the combined criterion, where companies are qualified by means of a score that takes into account the combined valuation of the technical and financial proposals, with the following weights:
a) Technical Proposal: 70% (Seventy percent).
b) Financial Proposal: 30% (Thirty percent).
How to apply:
Interested applicants are expected to submit a proposal with an updated CV and using the
template given (Download the RFP document here) by email to AFI’s Procurement & Contracts Office at rfp2209@afi-global.org by 14th March 2022.
The final decision on the selection of a consultant/consulting firm for this project rests with AFI management team and with the Inquiry. Only shortlisted and successful consultants will be contacted.