Firm Level International Consultancy Service Design and Management of the Regulatory Sandbox Unit of the National Bank of Ethiopia and the Ethiopian Capital Market Authority
Project Title: Innovative and Inclusive Finance
Duty Station: Addis Ababa
Type of Contract: International Firm Level
Duration of the assignment: 9 Months
Expected period of the contract: August 2023 - April 2024
The Innovative Finance Lab is expected to play a strategic and catalytic role in curbing the challenges of financing using a three-pronged approach:
· mobilizing capital to address the supply constraints through the Enterprise Financing Facility (EFF) – a USD 100 million investment fund, which deploys innovative financial products and services addressing the need of SMEs in Ethiopia.
· matching with the EFF, the lab will provide capacity building towards development of investment ready projects through the Technical Assistance Facility (TAF) to harness the demand side gap and;
· bridging the gap by advocating for policy and regulatory reforms of market-oriented innovative and digital financial solutions informed by evidence generated from piloting of innovative financial products and services through its regulatory sandbox unit.
The overall objective of this consultancy is to design and manage the Sandbox Unit (following successful approval of the design by the project team) for a period of nine-months as an integral part of the Innovation Finance Lab initiative. More specifically the assignment under this consultancy covers the following components:
· Design of the sandbox framework: (including but not limited to procedural and organizational including comprehensive assessment of existing legal/regulatory framework, management, and governance of the sandbox, outlining the operation process, development of risk management framework)
· Implementation and management of the sandbox, monitoring performance, impact measurement, exit plan and reporting
Details of each component is outlined in the ToR of the assignment attached here with.
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