A. BACKGROUND OF THE PROJECT AND THE ASSIGNMENT

Mongolia has been implementing the Strengthening Fiscal and Financial Stability (SFFS) Project financed through a credit from the International Development Association (IDA). The Objective of the SFFS Project has been to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure. The project is designed into five components: (i) Strengthening Macroeconomic and Fiscal Management; (ii) Improving the Efficiency of Public Financial Management; (iii) Enhancing Financial Sector Stability; (iv) Strengthening the Social Protection System; and (v) Project Management and Monitoring. The objectives are to strengthen fiscal responsibility and implement relevant policy measures, improve fiscal discipline, strengthen the resiliency of the banking system, improve public expenditure quality in social protection, and provide support for Project implementation, coordination, monitoring, and evaluation, including, inter alia, audit arrangements, reporting requirements, procurement, and financial management activities respectively. For more details, please refer to the Project Appraisal Document Report No. PAD2269 .

The main objective of subcomponent A.3.1 is to strengthen the capacity for debt management and external development financing operations of the Ministry of Finance (MOF) and the government of Mongolia with a view to, among others, achieving the intermediate result indicator of the SFFS Project on preparing for the Parliament’s approval of the  Government Medium-Term Debt Management Strategy 2019-2022.

Public debt management was sparsely coordinated where its fragments were reflected in various laws in regulations until Feb 2015 when the first Public Debt Management Law was approved building the foundation of the integrated debt management coordination and policy. Nevertheless, there are many areas that need to be improved where performance indicator criteria are to be met and sustained thoroughly. It is essential to regularly maintain debt management activities and make its operations as a routine that will assist the Debt Management Office (DMO) in transitioning from goal-oriented operations to functional routines. Developing documented procedure manuals and regulations for various debt management operations will also facilitate the implementation of the Debt Management Reform Plan.  

Under the project’s objective of strengthening the government’s capacity for public debt management and external development financing operations, the Debt Management Division (DMD) of the MOF (Ministry of Finance) sees a realistic need to have consistent monitoring and managing of public debt for better coordination and decision-making, while also widening the options for external development financing operations. Hence, it will be essential to have gap analysis reports on public debt management activities and to conduct research on improving the efficiency of external financing.

Therefore, the DMD seeks to hire a National Consultant with expertise in government grants who can help advance the above-mentioned agenda on public debt management and external financing from the perspective of policy, regulations, and methodology. 

B. OBJECTIVE OF THE ASSIGNMENT

The main objective of this consultancy service is to further the DMD’s operations by providing research on diversifying grant options and more efficient financing sources, while also producing necessary recommendations and reports that would deepen the understanding of individual grants and related projects thus improving overall implementation. 

C. SCOPE OF THE WORK

The Consultant is expected to undertake the tasks including, but not limited to, the following: 

Task # 1: To Research options for efficient financing sources, and market conditions necessary to tap international capital markets by implementing measures to develop the market e.g., research international market conventions and standards to broaden the investor base.

Task # 2: To prepare summary reports and preparation materials of projects for Cabinet and Parliamentary meetings to discuss the approval and ratification of the projects. 

Task # 3: To research other grant options besides bilateral donors elevating international financial cooperation e.g. research international grant options and standards to broaden the Government’s grant access etc.

Task # 4: To facilitate drafting of guidelines to support development of MOF’s advice to government on external grant opportunities, which would include improving grant receiving decision making requirements e.g. realistically assessing needs for a new grant, and implementing measures to prevent the ineffective use of grants, to ensure the grant amount complies with the limits set by the annual budget laws, etc.

Task # 5: Undertake any other tasks as reasonably requested and/or assigned by the Head of the DMD.

• Provide written and oral translations as necessary and as requested by the Client as it pertains to the assignment.
• Undertake such other tasks as reasonably requested and/ or assigned by the Director of FPD and head of DMD as it pertains to the assignment.

D. DELIVERABLES

The Consultant is responsible for the following deliverables: 

• Research report on options for efficient financing sources and market conditions necessary to tap international capital markets implementing measures to develop the market. 
• Research report on other grant options besides bilateral donors elevating international financial cooperation for improving standards and broadening government access to grants. 
• Draft guidelines on external grant decision-making.
• Monthly progress reports on the tasks performed under the assignment together with other reports and translation materials as reasonably requested by the Head of the DMD.

E. CONSULTANT’S QUALIFICATIONS/ SELECTION CRITERIA

Education:  A suitable candidate should have a university degree in a relevant field: Business administration, international relations, finance, or economics;

Experience: Incumbent should have at least one year of work experience where sound research and analytical skills were utilized. Experience in International institutions and central government agencies would be an advantage. Relevant operational skills involving administrative tasks such as organizing meetings, producing follow-up minutes, and developing procedures are preferred. 

Language skills:  Fluent written and spoken skills in English and Mongolian;

Other skills: Be proficient in Microsoft Office, specifically Word, Excel, PowerPoint, and Access, and have excellent web research and navigation skills; Excellent interpersonal skills with the ability to function effectively and collaboratively in a team environment; high integrity and accountability; and be able to work overtime if required.

F. SUPERVISION AND REPORTING 

The consultant will report directly to the Head of the DMD while simultaneously reporting to the Project Implementation Unit (PIU) coordinator. The consultant will work on a full-time basis during the period of the contract.

In the event of project restructuring occurring during the lifetime of the contract which affects the Sub-Components currently set (i.e.Sub-Components may be absorbed, eliminated, or newly added), the PIU, at its discretion might arrange how the assignment might be altered accordingly or appointed elsewhere.   

The DMD and PIU (SFFS/SGM) shall evaluate the consultant’s performance on an output basis and approve invoices for delivered outputs. 

The Consultant must prepare and submit monthly and quarterly reports detailing achievements and, when appropriate, also include details of the impediments in the execution of the entire assignment as requested and on time. 

All reports shall be prepared in both English and Mongolian, in electronic and hard format, which shall be submitted to the DMD and the PIU.

G. CONTRACT DURATION 

The consultant work is expected to commence in November 2022. The duration of the assignment is 6 months. 

H. INSTITUTIONAL ARRANGEMENTS

The Ministry of Finance (MOF) will provide office space and the consultant will work with DMD staff and consultants on a day-to-day basis. In particular, the consultant is expected to communicate and coordinate his/her work with the Senior Consultant and another national consultant who will be supporting the implementation of key activities under the sub-component, particularly on the agenda of contingent liabilities. The consultant shall be provided with all necessary data and information to perform the tasks detailed in this TOR.

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