Short Term Consultancy to Develop Tailored Loan Products for the Health Sector in Rwanda
Company Information
Palladium is a global leader in the design, development, and delivery of Positive Impact - the intentional creation of enduring social and economic value. We work with foundations, investors, governments, corporations, communities, and civil society to formulate strategies and implement solutions that generate lasting social, environmental, and financial benefits. For the past 50 years, we have been making Positive Impact possible. With a team of more than 2,500 employees operating in 90 plus countries and a global network of more than 35,000 technical experts, Palladium has improved - and is committed to continuing to improve - economies, societies and most importantly, people's lives.

Project Summary
Palladium is implementing the Rwanda Integrated Health Systems Activity (RIHSA), a three-year USAID-funded task order (720-696-20-F-00001) designed to support the Ministry of Health in strengthening Rwanda’s health system to provide quality health care for Rwandans while building the capacity of the Government of Rwanda (GOR) to move away from a donor-financed health system towards a self-reliant system. The project is aimed at achieving two major objectives:
1. Reduce financial barriers to health care through a mix of public and private interventions and provide tools for improved domestic resource mobilization and improve health care financing for the GOR.
2. Improve the quality of essential health services at national, facility and community levels utilizing a health systems approach.
Through a focus on financing and quality, USAID-RIHSA provides technical assistance to the GOR on various strategies, tools and approaches that will allow Rwanda to sustainably fund its healthcare system and provide quality care at all levels. The Activity is implemented by a consortium led by Palladium International LLC (Palladium) in partnership with RTI International, the Council for Health Service Accreditation of Southern Africa (COHSASA), Zenysis Technologies, and the Rwanda Agency for Accreditation and Quality of Healthcare (RAAQH).

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Context
The Government of Rwanda has prioritized the private sector as a critical partner in its efforts to achieve Universal Health Coverage (UHC). Some of the priority areas of the GOR for private health investment include provision of specialized diagnostic and treatment services (e.g. medical imaging & diagnostic laboratories), manufacturing of medical supplies and equipment (e.g. medical implants, medicine and medical equipment), among others. To achieve this, financing is needed to either construct health facilities, acquire equipment, expand existing facilities or meet running costs. In Rwanda, the health products portfolio in financial institutions is still relatively small has potential for growth. A recent survey on financing opportunities for the private health sector in Rwanda highlighted the limited existence of health-related loan products in the market, with some of the few products available requiring high collateral requirements and offering unfavorable interest rates. While financial institutions view the sector as risky with high potential for credit loss, they also face challenges related to understanding the needs and dynamics of the health sector and thus find it challenging to tailor loan products for this sector. Consequently, health sector entrepreneurs continuously grapple with limited access to credit facilities amidst the financial constraints posed by delayed reimbursements from insurance providers. In addition, the changing epidemiological profile and healthcare needs of the population calls for the adoption of new and effective technologies, and the employment of highly skilled personnel, which come at a very high cost hence the need for comprehensive financial solutions to meet Healthcare Sector funding requirements. In light of the above, USAID RIHSA is commissioning a consultancy to formulate better strategies towards unlocking the needed finance (with favorable terms) for the private health sector.
Objective & scope of work
The objective of this assignment is to support selected Financial Institutions in Rwanda to develop at least two loan products tailored to the health sector, and/or modify existing products to meet the needs and dynamics of the health sector (including Hospitals, Clinics, Health Posts, Medical Laboratories and Diagnostic Centers and Pharmacies among others).

Expected Deliverables
The consultant is expected to develop at least two (2) loan products tailored to the health sector financing needs. The consultant shall:
1.Engage Financial Institutions (Banks and MFIs) to shortlist those that are interested in direct product development support.
2.From the shortlisted institutions, review their existing health sector loan products including features of the product(s), disbursement history/trends and client feedback on the product (s),
3.Work closely with product development teams from the selected financial institutions to scope, identify, and design at least 2 new loan products and/or improve existing ones targeting health sector clients.


Level of Effort
The level of effort for this consultancy is estimated to be not more that 18 working days and to be implemented with 3 Months from the date of signing a contract. The timeline is as follows:
Activity/Milestone Timelines
Inception report 1 week from date of signing contract
Scoping and identification of interested financial institutions 2nd week from date of contract
Stakeholder consultations & Review of existing loan products 3rd week from date of contract
Draft Loan Products 7th week from date of contract
Validation of the products with the managers of the selected financial institutions 10th week from date of contract
Submission of at least 2 new final loan products and a brief summarizing their potential as viable products 12th week from date of contract
Contract Type
This consultancy will be a fixed price deliverable-based contract. Acceptance of the deliverables will be determined by Palladium/RIHSA Health Financing Director. Final approval will be required by the Chief of Party.

Selection Criteria
The applicant must be a consultant with extensive experience in financial product development, including loan products
# Evaluation Criteria Weight (%)
1 Quality of the application and technical proposal 15
2 Applicant’s relevant capacity and demonstrated past performance in conducting similar or related assignment; demonstrated ability to conduct in-country (Rwanda) assessments 30
3 Qualifications of the consultant in financial/loan products development 25
4 Understanding/familiarity with the Rwandan banking and health sectors 10
5 Cost 20
Total Score 100

All proposals received will be reviewed based on the above evaluation criteria. Negotiations will be held with the candidate that scores the highest number of points using the criteria above.
The application proposal should include:
• A description of how the tasks will be successfully accomplished
• A description of the applicant’s relevant capacity and past performance including similar assignments carried out.
• The qualifications of the applicant which should include a current CV
• Understanding/familiarity of the Rwandan banking and health sector
• Cost Proposal detailing the price per deliverable, inclusive of all logistical costs, including transportation, accommodation, data collection and printing costs. The price should also include applicable taxes.

Profile of the Consultant
The local consultant must meet at least the following minimum requirements:
• Master’s degree in economics, finance, business administration, or related degree
• At least 2 years working experience in the banking and finance industry
• Experience in evaluating loans products
• Knowledge and proven experience in development financial products for banks and microfinance institutions
• Experience in advising financial institutions in strategic product development/positioning will be an advantage
• Track-record of successful completing similar assignments preferably within the last 5 years
• Conversant with the operational procedures and standards of international development organizations/ institutions, along with excellent diplomacy and collaboration skills
• Team player and willing to learn and adapt skills to new perspectives
• Fluency in English with excellent written communication skills

Interested candidates should apply using the "Apply" button below not later than 29th November 2022.