A. BACKGROUND OF THE PROJECT AND THE ASSIGNMENT

The World Bank (WB) and the European Union (EU) have been implementing a hybrid Trust Fund (TF)-financed Strengthening Governance in Mongolia (SGM) project aimed to support the efforts of the Government of Mongolia (GOM) to improve fiscal discipline, public financial management (PFM), as well as transparency and accountability processes for strengthened governance in Mongolia.  

This TF, through both Recipient Executed (RE) and Bank Executed (BE) interventions, has been serving two main purposes. Firstly, it complements and expands the ongoing technical assistance the WB is providing through the Strengthening Fiscal and Financial Stability (SFFS) Project. Secondly, this TF supports the GOM in advancing the current efforts toward increasing transparency, participation, and accountability in fiscal matters as well as in strengthening its capacity to deal with non-technical drivers of the reform process that prevent state agencies from implementing policies and regulations as intended.

The Parliament of Mongolia is the highest governing body of Mongolia, passing legislation and determining the state’s foreign and domestic policy, acting independently and transparently, and ensuring the fundamental principle of including the people’s engagement in the legislative process and implementation of laws. The Standing Committee of Budget Affairs (SCBA), one of the 11 standing committees of the Parliament, is responsible to prepare all the laws and resolutions in relation with the fiscal policy and budgetary proceedings at the parliament level. Within the standing committee, the Fiscal Council engages to provide independent review on the budget as the primary responsibility. The council also responsible for reviewing implementation of the fiscal sustainability law and support the standing committee of Budget affairs in certain budgetary procedures. 

The objective of the project is to improve the capacity of the Fiscal stability council of the Secretariat of the  Parliament of Mongolia for accurate macroeconomic forecasting which is a necessary assessment of proposed laws that will affect the budget.  The FSC will provide valuable proposals and recommendations to the Fiscal Standing committee and members of the Parliament in making decisions about the implementation of specific principles and ensuring fiscal discipline by accomplishing this objective.

B. OBJECTIVE OF THE ASSIGNMENT

The main objective of this assignment is to develop Macroeconomic and Fiscal forecast scenarios for Mongolia, its models and manuals in accordance with international best practices and the requirements of the Secretariat of the Parliamentar and the Fiscal Stability Council of Mongolia with many variations.

C. SCOPE OF THE WORK 

1. Review of following guidelines on macro and budget projections and provide relevant comments and draw conclusions:

• “Financial Programming and Policies” used by the IMF; 
• Common macro-fiscal forecasting techniques developed by the international consultant who worked under sub-component 1.1 of SGM;
• Macro-fiscal forecast best practices of other countries /Austria, Hungary and others/;

2. Determine indicators (variables) and develop models required for development of macro-economic, fiscal, financial projections based on the results of the review.

3. Collect data related to the criteria;

4. Identify risks related to the implementation of budget and macroeconomic policies;

5. Define specifics of the Mongolian economy;

6. Develop macroeconomic, fiscal and financial forecasting using the indicators and models described above based on the instructions given by the Chairman, members of the FSC and the Secretariat of Parliament of Mongolia;

7. Organize discussions, training, workshops, produce promotional materials and manuals on projections, specifications and models;

8. Submit information and related materials to the Secretariat of FSC during the project period;

9. Other additional work if necessary.

D. DELIVERABLES

The following materials must be submitted to the Fiscal Stability council in Mongolian.

1. A report on the mapping and techniques of macro and fiscal projection modeling included in the scoping work, including selected macroeconomic and fiscal indicators (a report related to part C(1) of this assignment);
2. Proposal on the macroeconomic and fiscal forecasting model options suitable for Mongolia; 
3. A report on the results of discussions held with stakeholders; 
4. Translation of the necessary documents within the framework of the assignment upon request of the client;
5. Training and instructional materials to the Fiscal Stability Council;
6. Final report including the model, instructions, manuals, and the conclusions, recommendations of the consulting services provided (with relevant documents attached) reflecting the comments and recommendations provided by the FSC and the Secretariat of the Parliament;

The report on project implemented shall be submitted to the project implementation unit in English and Mongolian.

E. CONSULTANCY SERVICE’S QUALIFICATIONS/ SELECTION CRITERIA

The desired consultant firm should be a legally established entity in Mongolia meeting the following qualifications and requirements:

• A legally registered entity with at least 5 years of continuous operations and evidence of credibility, experience and competence to undertake the assignment; 
• Ability to mobilize the key professionals (team leader, senior officer, economists, finance experts) meeting the required qualification requirements;
• Ability to transfer the relevant knowledge to the FSC where necessary and have an intention and willingness to complete the assignment timely and successfully taking full responsibility. 

The consultancy team shall have at least 3 (three) members, including a Team Leader and other members. The qualifications of the team members shall fulfill the following criteria:

a) Team Leader (Senior Expert)

• Education: A suitable candidate should have a PhD in a relevant field: economics, budgeting or finance;
• Experience:

            - At least 3 years of experience in the field of budget and finance (developing macro-budget modeling), or have at least 5 years of experience in the field of research and training institutions

            - Experience in publishing or conducting research reports/works;

            - Be able to perform the task at high quality in timely manner.

• Other work-related skills:

            - Sufficient knowledge of the Budget Law, Budget Stability Law,  State Auditing Law, and other required laws and policies;

            - Good written and spoken skills in English and fluent written and spoken skills in Mongolian;

            - Excellent interpersonal skills, ability to work in a group and team environment is required to deal effectively with staff at 

all levels;

            - Proficiency in standard office applications (Word, Excel, Power point web research, online meeting tools).

b) Economists or finance expert /2/

• Education: A suitable team member should have at least a master’s degree in a relevant field: Accounting, Economics, Public Policy/Administration, Finance;  
• Experience:

            - At least 3 years of experience in private or public sector in economics and finance;

            - Published or conducted research works regarding budget planning or monitoring would be an advantage;

            - Be able to perform the task at high quality in timely manner.

• Other work-related skills:

            - Sufficient knowledge of the Budget Law, Budget Stability Law,  State Auditing Law, and other required laws and policies;

            - Good written and spoken skills in English and fluent written and spoken skills in Mongolian;

            - Excellent interpersonal skills, ability to work in a group and team environment is required to deal effectively with staff at 

all levels;

            - Proficiency in standard office applications (Word, Excel, Power point web research, online meeting tools).

SUPERVISION AND REPORTING: The consulting firm will report directly to both the Chairman of the Fiscal stability Council and division of the budgetary scrutiny and analysis of the Secretariat of Parliament of Mongolia. Consultant will also work closely with the "Strengthening Governance in Mongolia" project team. A detailed timebound work plan shall be developed and agreed by the assignment. Contract payments shall be released based on the progress made towards the deliverables specified on the work plan. 

F. INSTITUTIONAL ARRANGEMENTS

In addition to the Fiscal Stability Council, other relevant consultants of the "Strengthening Governance in Mongolia" project may provide support for main outputs in accordance with the outcome agreement. If necessary, the Fiscal Stability council can provide a workplace.

The assignment for the above position will be effective on November 07, 2022. Total input required for undertaking the above tasks is 04 months until February, 2023. 

If you possess the above qualifications, please submit the following documents via email to procurement_sgm@sffs.mn:

1. Cover letter indicating why she/he considers her/himself suitable for the position.

2. Detailed CV highlighting relevant skills/experience.

3. Copy of diplomas or certificates; and,

4. Two (2) reference letters from previous last two employers no later than 15:00 PM, Nov 16, 2022.

The consultant will be selected in accordance with the World Bank’s Procurement Regulations for IPF Borrowers (July 2016).

The submitted documents will not be returned to the applicants. Please be noted that incomplete applications would not be considered for evaluation. Only selected candidate will be contacted.Address for submission of Expression of Interest: Ms.Zolzaya.B, Procurement Specialist, Strengthening Fiscal and Financial Stability Project, Room #205, Negdsen undestnii 8/2, 4th khoroo, Chingeltei District, Ulaanbaatar, Mongolia. Tel: 70120582 or via email to: procurement@sffs.mn

70120582