Punjab Youth Workforce Development (PYWD) is a USAID funded three year [May 2016 – May 2019] project which is being implemented by The Louis Berger Group. The project aims to foster employment generation for the marginalized youth between ages of 16 – 29 years in four districts of South Punjab; Bahawalpur, Lodhran, Multan and Muzaffargarh.
The USAID-PYWD project’s purpose is to empower youth through developing constructive attitudes and to provide them with employment opportunities which will further contribute towards increased stability in focus districts. The underprivileged youth (16-29 years) will be involved and engaged in productive activities through skills development with focus on enhancing their income levels. The PYWD project will intervene by providing skill based training to 9,000 youth, counselling services to 1,000 youth and capacity building of 22 training institutes in selected districts. Within the purview of Access to Workforce Education and Training Component, the project will provide trainings that will lead to self-employment and entrepreneurship among youth. To increase and promote self-employment and entrepreneurship, PYWD project will provide 1,000 interest free loans to youth of focused districts, out of which 35% will female. The objective is to support the youth for setting up their own businesses/entrepreneurial ventures. The youth aspiring to access loan for starting their ventures will be provided with entrepreneurial training and supported with market-linkages for optimum utilization of interest free loans.
1. Objectives of the Consultancy
The objective is to assist USAID-PYWD project and its MFI partners in drafting “Access to Finance” strategy, its effective launching, implementation, monitoring and reporting. The assignment will also include an SoP for the establishment, operations and handing over modalities relating to the planned Revolving Fund launched by leveraging 1:1 resources from partner MFI.
The overall purpose is to provide easy and prompt access to interest free loans to the youth of selected districts for promoting and strengthening entrepreneurship and self-employment. The project intends to hire the services of a Consultant having expertise in the field of microfinance and microcredit, with adequate orientation to interest free loan mechanism for enterprise development.
The Consultant will be required to streamline tasks related to the design, resource mobilization, implementation, monitoring, documentation and communication of the initiative. S/he will ensure close communication with all relevant stakeholders
2. Responsibilities of the Consultant
- To facilitate PYWD through complementing experiential and tacit knowledge of microfinance into developing and finalizing “Access to Finance” strategy emphasizing on the promotion and amplification of youth-led enterprises
- Evaluate and catalogue a list of most prospective sectors and lucrative business ventures in local context for youth and MFIs to invest in
- To conceptualize the initiative in terms of principles, salient features, and scope of operations, ensuring that these are well thought through, logical and effectively integrated in the overall implementation and reporting system.
- Develop an Operations Manual to ensure smooth and effective implementation of “Access to Finance” strategy. It may broadly comprise of the operational structure, staffing, risk assessment tools, community mobilization plan, marketing plan, disbursement procedures, documentation process and monitoring mechanisms.
- Collaborate with MFI partner in the formulation of implementation plan for loan disbursements, repayments and defaulters
- Draft a screening criteria and identify youth who are eligible for entrepreneurial trainings and loans for enterprise development as per the criteria
- Facilitate, execute and monitor the training and capacity building activities of beneficiaries to ensure optimal utilization of finance linked to enterprise development/enhancement.
- Orchestrate operational and procedural modalities including communication & reporting guidelines and mechanisms and ensure transparent execution by MFI partner
- Design a toolkit with requisite tools and procedures to USAID-PYWD project for strengthening the whole process from nominating youth, receiving loan applications, disbursements and loan recovery as per agreed upon schedule and partner’s procedures
- Carry out rigorous follow-up with beneficiaries on the verify the effective utilization of loans as per accorded business plan
- To set up a standardized, accountable and auditable process for establishing, managing, monitoring, reporting and concluding the Revolving Fund created for disbursing Interest free loans to youth.
- To put in place a robust monitoring mechanism for documenting and tracking implementation, as well as results expected from the initiative
- Monitor and report socio-economic and behavior change in the lives of recipients through baseline and end-line assessment.
- To develop and operationalize an effective system for capacity building, information management, reporting and complaint & grievance management.
3. Qualification and Experience
- Masters degree in Business, Economics, Banking or related field
- At least 05-year experience in managing credit/interest free loan programs. Preference to the candidate with experience in entrepreneurship development
- Hands-on experience of working with banks, government or development organizations in enhancing access to finance
- Experience in designing products and services for promoting youth development
4. Reporting line
The Consultant will work closely with Placement, Partnership and Institutional Capacity Building Department and report periodic to USAID-PYWD project management periodically.
5. Duration of Consultancy
The Consultant will have a short-term consultancy agreement to complete the assignment for a duration not more than 06 months.