SheProspers: Elevating Women Entrepreneurs in Bangladesh Project

Terms of Reference (ToR) for Consultancy Firm/Company

For Policy Advocacy and Project Monitoring & Evaluation

Introduction:

The Asia Foundation (TAF), with funding support from the GSRD Foundation, has successfully launched and implemented an 18-month project in Bangladesh. The project aimed to provide Women SMEs in Bangladesh with the necessary skills and training for sustainable business growth. Building on past success, the program envisions a more focused approach in the upcoming phase and aims to support women entrepreneurs by tailoring interventions to their specific business growth stage -- whether in the startup, sustaining, or growth phase. Through this project, TAF will help secure bank loans for 30 entrepreneurs in the growth phase. The project will also enhance the skills of 200 sustaining-phase entrepreneurs while providing them with information and market linkages, enabling business formalization and increased qualification for loans. Moreover, through the project, over 1,000 startup-stage businesses will gain access to fundamental business management insights and information on accessing finance.

About The Asia Foundation:

0The Asia Foundation is a nonprofit international development organization committed to improving lives and expanding opportunities across Asia and the Pacific. Informed by decades of experience and deep local expertise, our work across the region is focused on good governance, women’s empowerment and gender equality, inclusive economic growth, environment and climate action, and regional and international relations. Headquartered in San Francisco, with an office in Washington, DC, The Asia Foundation works through its network of 18 country offices across Asia and the Pacific. Working with public and private partners, the Foundation receives funding from a diverse group of bilateral and multilateral development agencies, foundations, corporations, and individuals.

Objective of the Consultancy

A consultancy firm/company is responsible for project Monitoring & Evaluation (M&E), produce half-yearly reports, annual reports and policy advocacy papers. Conduct two 'capitalisation exercise' to extract key learnings from the project implementation. The primary objective is to identify successes, challenges, and areas for improvement in the project. The exercise will involve in-depth analysis of what worked well, what did not work well, the key factors contributing to success, the main challenges faced, and most importantly, recommendations for future improvements. The findings of this exercise will significantly inform the development of future projects aimed at supporting women entrepreneurs in Bangladesh.

Monitoring and Evaluation

Monitoring and evaluation of the project will involve systematically tracking its progress, assessing the effectiveness of activities, and ensuring alignment with objectives. Through regular data collection and
analysis, this process provides insights into outcomes, enabling informed decision-making, adaptive strategies, and the optimization of resources for sustained project success.

Policy Advocacy

In line with the government’s goal to establish a “Smart Bangladesh”, the central bank has recently unveiled guidelines on digital banks with a detailed regulatory framework. According to the guideline, a consortium of 10 banks jointly announced their immense interest alongside mobile financial services like Nagad and bKash and many other financial, non-financial, fintech and telecommunication companies to join the voyage of the digital banking era in Bangladesh.

Digital banks are poised to lead the way in extending micro-loans to the underserved financial services population in Bangladesh, particularly benefiting women entrepreneurs. TAF aims to contribute to this transformative landscape by developing a white paper. This document will serve as a catalyst for robust debates and conversations, shedding light on the immense potential of digital banks and their pivotal role in fostering financial inclusion for small women-owned businesses.

To amplify the impact of this initiative, the program will organize two policy advocacy sessions. These sessions will bring together key stakeholders, including banks, regulators, investors, women entrepreneurs, and various other stakeholders. By convening these diverse perspectives, the aim is to stimulate dialogue, share insights, and collaboratively shape policies that foster an environment conducive to the growth and inclusion of small businesses led by women.

Scope of Work

The consultancy firm/company will be responsible for the following tasks:

  • Reviewing all relevant project documentation, reports, and data related to the 18-month project.
  • Conducting interviews with key stakeholders, including project managers, beneficiaries, partners, and other relevant personnel involved in the implementation.
  • Analyzing the project's successes, failures, challenges, and impact on women entrepreneurs in Bangladesh
  • Identifying the key factors that contributed to the project's success and challenges faced during implementation.
  • Providing concrete and actionable recommendations for future projects aimed at supporting women entrepreneurs in the region.

Deliverables

  • The consultancy firm/company shall submit the following deliverables:
  • Develop a comprehensive Monitoring and Evaluation (M&E) Framework and Plan
  • Partner reporting format (quarterly)
  • Produce half-yearly and annual reports, which will include story collection from the beneficiaries.
  • Conduct two capitalisation research reports summarizing the findings of the capitalisation exercise, including successes, challenges, key factors contributing to success, and areas for improvement.
  • Share the presentation of the findings to key stakeholders of the project.
  • Produce One white paper on the potential of digital banks and their role in fostering financial inclusion for small women-owned businesses.
  • Organize two policy advocacy dialogue sessions.


Timeframe

The assignment is expected to be conducted within April 2024 to July 2025.

Qualifications and Experience

The consultancy firm/company should possess the following qualifications and experience:

  • Demonstrated expertise in conducting similar exercises or project evaluations, preferably in the field of entrepreneurship, women's empowerment, or economic development.
  • Minimum 5 years proven experience in analyzing complex projects and providing actionable recommendations.
  • Familiarity with the socio-economic context of Bangladesh and experience working in the region would be advantageous.
  • A team with diverse skills and expertise, including researchers, evaluators, and subject matter experts.
  • Prefer the firm/company who has previous affiliation or working experience with the foundation.

Reporting

The consultancy company will report directly to the Asia Foundation.

Budget

The consultancy company shall provide a detailed budget proposal, including all costs related to the conduct of the capitalisation exercise. VAT and TAX will be deducted as per the government's NBR policies.

Proposal Submission


Interested consultancy firm/companies are requested to submit the proposals, including relevant experience, qualifications, methodology, timeline, and budget to the following email: country.bangladesh.jobs@
asiafoundation.org by April 15, 2024.

**11. Evaluation Criteria: **

The selection of the consultancy firm/company will be based on the following evaluation criteria:

  • Demonstrated experience and expertise in conducting similar exercises.
  • The soundness and appropriateness of the proposed methodology.
  • The feasibility of the proposed timeline.
  • Cost-effectiveness of the budget proposal.


The Asia Foundation and the GSRD Foundation will evaluate the proposals and select the most suitable consultancy company to carry out the capitalisation exercise.

*Note: The terms of reference can be further customized based on specific requirements and regulations of The Asia Foundation and the GSRD Foundation. *