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World Bank recruiting Financial Literacy Trainer


Tajikistan, Kyrgyzstan, 02 October 2013

Featured Project

IFCs CENTRAL ASIAN MICRO & RESPONSIBLE FINANCE PROJECT (CA MRF) was established to further the development of microfinance sector in Azerbaijan and Central Asia by improving the conditions for microfinance institutions (MFIs) to conduct their business on a sustainable basis under the post-crisis conditions.

The goal of Azerbaijan Central Asia Financial Infrastructure Project (ACAFI II), which started in October 2012 and will be implemented for three years, it is to continue to expand secured access to finance (A2F) for individual consumers and MSMEs by improving the financial infrastructure in the four project countries. The project will continue with the development of credit bureaus and expand the collateral registries component trough a programmatic approach, including:

  • Improving legislation relevant to improved credit information sharing and secured transaction practices;

  • Capacity building of credit bureaus/public registries and movable collateral registries;

  • Strengthening the capacity of financial intermediaries by providing new tools related to credit reporting and secured transactions, and improving the risk management practices of local financial institutions;

  • Raising public awareness and disseminating the financial literacy program

One of the objectives for ACAFI II and CA MRF is to raise awareness on the role of financial infrastructure, to increase education and consumer awareness on the role and benefits of credit reporting and movable financing through Financial literacy outreach including direct training modules and broad outreach. Because in the fact financial understanding among consumers is low. Financial literacy levels are especially low for certain groups, such as the less-educated, minorities, and those at the lower end of the income distribution.

The accelerated development of the process in increasing financial literacy of the population is quite natural, since the appropriate level of financial literacy leads to improvement of living standards of the population, economy and improve social welfare. Financial education is necessary for all categories of people. It is necessary for citizens to manage personal finances, the optimization of the savings-consumption, risk assessment and making reasonable decisions when investing savings, and in using a variety of financial products and services.

In order to achieve this overall objective, the Projects will take on a programmatic approach and will focus on the following key objectives:

  • Improving the financial awareness of amongst the general population and potential Financial Institutions clients across the countries through provision of trainings. Such trainings will be conducted by training staff of local training Partners and specially trained FIS credit officers/employees.

  • Design/Elaborate training module/program on Financial Literacy to target the population and deliver it on sustainable basis.

  • Nationwide coverage through this training program to achieve following results:

  • the competence of consumers to evaluate the information they need to make appropriate financial decisions

  • enable consumers to manage their personal/household finances and run better businesses

  • enable clients be informed as effective consumers of various financial services

  • make small borrowers understand their loans and their loan contracts

  • FL is a key component to expand and enhance the financial services beyond credit: savings and insurance

Scope of work

The specific tasks of this position include the following:

  • Based on received documents analyze all materials that will be provided by IFC from two projects countries(Kyrgyzstan , Tajikistan). Based on analysis to identify key topics that should be covered by the content of the training module, as well as broad outreach campaign.

  • Provide report to IFC with key findings and proposed next steps

  • Based on identified needs to elaborate key messages and the content of the Training for Trainers and training for population to improve existing level of financial awareness of population.

  • Work out recommendations which best delivery channels should be used for better coverage of the end borrowers.

  • Develop a basic financial literacy module/training content and training manual for Trainers of Local Training Partners in collaboration with another IFC hired Consultant. The module will at minimum include but not limited to the following:

  • Household budget planning/Basic principles of money management;

  • Managing cash flow and budgeting,

  • Borrowings and savings

  • Understanding of credits, credit discipline among population and potential borrowers

  • Understanding of benefits of using of credit bureau`s services and movables financing, other FIs products.

  • Developed training materials and key messages needs to be discussed with the Financial Literacy Working Group and Local Financial Institutions. Based on the results of the discussions detailed and final content of the Training Modules must be developed.

  • Make presentation for Local Market players on Final Developed Modules.

  • Provide Training to Trainers session to LTPs training staff.

  • Elaborate Internet based training module and support accommodating it on E-platform

  • Provide IFC with materials/tools to measure the impact of the training and broad outreach programs.

Deliverables

The consultant will deliver the following:

  • Report with identified gaps, key findings, key messages and recommendations per each country- Nov 10, 2013

  • Draft financial literacy training modules (ToT and population) and discuss with FIs and FL Working-Group per each country - December 15, 2013

  • Finalize the financial literacy training modules (ToT and population) for each country - December 25, 2013

  • Conduct TOT for local training partners trainers for each country January 30, 2014

  • Prepare materials /tools to measure impact of Financial Literacy program January 30, 2014

  • Internet based training module February 15, 2014

  • Contract schedule

  • October 15, 2013- March 01, 2014. IFC estimates a level of effort for the consultant to be up to 50 days during this period. Payments will be made monthly, based on the invoice received from the Consultant with the number of days worked.

Resources

The consultant will not be occupying IFC premises nor have an IFC e-mail account. Payment will be done upon satisfactory review of work by IFC Task Managers.

Acceptance of the Deliverables

Deliverables are to be submitted in the English and Russian in the World Doc and editable format and in PowerPoint where required. All deliverables are subject to approval by the IFC and deemed to be final upon IFC approval. IFC reserves 7 working days to provide its comments in written to the Consultant on the deliverables. The deliverables will be accepted by IFCs Task Managers upon consultations with the related IFC and WB staff members.

Deadline: 14 October 2013

View the World Bank Group Sub-Contracting Notice

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