*Deadline extended to January 29, 2025, at 23:59 PM Eastern Standard Time*
*Check our Q&A session recording!*
Click here to access the recording
Passcode: 9X?4t.r#
Click here for Questions and Answers
***
UNCDF is currently implementing ‘Shafal – Remittance Management for Socio-economic Stability of Migrant Families’ programme, which aims to address these challenges by focusing on enhancing the asset-building capacity of migrant workers and their families. This program aligns with the Sustainable Development Goals (SDGs) and the Government of Bangladesh’s plans for leveraging remittances for development. Through a combination of financial inclusion, digitalization, and entrepreneurship development, Shafal seeks to create a more resilient and economically empowered migrant population. To enhance the current context, the Shafal has identified areas requiring improvement and recognized three key outcomes:
Outcome 1: Migrant workers and their families benefit from a better remittance management and reduce their risk of falling back into poverty.
Outcome 2: Financial institutions sustain the asset-building strategies of migrant workers and their families by providing gender-smart and migrant-centric services, in an accountable and effective manner.
Outcome 3: Government defines the policy reforms, guidance and instruments required to facilitate financial services for migrant workers and their families.
For this Terms of References (ToRs), under Outcome 1 of this project, UNCDF is seeking private institutions such as financial institutions, business development institutions, business associations, fintech companies, microfinance institutions, payment service operators/providers, relevant startups etc. , that can sustainably offer digital financial literacy (DFL) to the migrant workers and their family members, especially women. This initiative aims to empower migrant workers and their families to access financial services and efficient remittance management.
UNCDF seeks to partner with a private organization, or potentially a consortium of organizations, to tackle a critical challenge hindering Bangladesh's economic development which is the underutilization of migrant remittances. Despite significant volumes of remittances flowing into the country, a substantial portion remains trapped in informal channels, hindering national economic benefits and exposing migrant workers and their families to financial risks. Additionally, limited financial and digital literacy among these families restricts their ability to effectively manage and leverage these resources for long-term financial stability and investment.
UNCDF is committed to unlocking the full potential of remittances for sustainable development in Bangladesh. To achieve this, UNCDF will provide a competitive grant to the selected organization(s) to support the development, implementation, and monitoring of innovative Digital Financial Literacy (DFL) solutions. This grant will empower the chosen partner(s) to design and deliver impactful programs that address the specific needs of migrant workers and their families, particularly women, residing in the six targeted districts.
UNCDF would like to partner with an entity that can develop DFL solutions that are:
Gender-Smart: The ToR recognizes the unique challenges faced by women in accessing financial services and participating in financial decision-making. The selected proposal will demonstrate a clear understanding of these challenges and propose strategies to ensure women actively participate and benefit from the DFL programs.
Culturally Relevant: The DFL solutions should be tailored to the specific needs and cultural context of migrant worker communities in the targeted districts. This may involve utilizing local languages, leveraging existing community networks, and developing content that resonates with the target audience.
Action-Oriented: The DFL programs should equip participants with practical skills and knowledge to manage their finances effectively. This could include training on budgeting, saving, investing, sending and receiving remittances through formal channels, and utilizing mobile banking services.
This ToR prioritizes both immediate impact and long-term sustainability. Applicants should propose solutions that can be:
Scalable: The DFL programs should be designed to be easily replicated and scaled in other districts across Bangladesh.
Tech-Enabled: Leveraging digital platforms and mobile technologies can ensure wider reach and accessibility for geographically dispersed migrant communities.
Partner-Driven: The proposal should foster collaboration between the NGOs, financial institutions, fintech companies, and community-based organizations to create a robust ecosystem for financial inclusion.
All applicants need to cofund in cash (for costs such technical resources, staff, and operational expenses) at least 40% of the total project cost.
***
Please submit your proposal trough this e-investment platform. Incomplete submissions or submissions using other templates or sent by other electronic or non electronic means will not be eligible.
For more information please download the following documents:
- Terms of Reference
- Instructions to TOR Applicants
- Main application guidance document
- Low Value Performance Based Agreement
- Budget Template
- CV template
- Partner Capacity Assesement Tool - PCAT
- Risk Assesment Tool for private sector
A performance-based payment (PBP) grant implies that no advance payments will be made. Grants amounts that are contingent on the successful achievement of pre-determined milestones and targets. Achieving the milestone (s) and the target (s) will therefore trigger a grant payment. Grant payments will be reimbursements for funds spent by the grantees, according to the project implementation plan and pre-agreed milestones and targets. The Grantee will be responsible of providing a comprehensive and compliant financial report reporting all the financial transactions relating to the grant. The Grantee will need to keep supporting documents related to these transactions to justify all actual costs incurred.
For queries write to the following address: queries@uncdf.org with the following subject: 241115 - BGD - Development of Innovative Digital Financial Literacy Solutions for Migrant Workers or their Family Members, Particularly Women.
241115 - BGD - Development of Innovative Digital Financial Literacy Solutions for Migrant Workers or their Family Members, Particularly Women
*Deadline extended to January 29, 2025, at 23:59 PM Eastern Standard Time*
*Check our Q&A session recording!*
Click here to access the recording
Passcode: 9X?4t.r#
Click here for Questions and Answers
***
UNCDF is currently implementing ‘Shafal – Remittance Management for Socio-economic Stability of Migrant Families’ programme, which aims to address these challenges by focusing on enhancing the asset-building capacity of migrant workers and their families. This program aligns with the Sustainable Development Goals (SDGs) and the Government of Bangladesh’s plans for leveraging remittances for development. Through a combination of financial inclusion, digitalization, and entrepreneurship development, Shafal seeks to create a more resilient and economically empowered migrant population. To enhance the current context, the Shafal has identified areas requiring improvement and recognized three key outcomes:
Outcome 1: Migrant workers and their families benefit from a better remittance management and reduce their risk of falling back into poverty.
Outcome 2: Financial institutions sustain the asset-building strategies of migrant workers and their families by providing gender-smart and migrant-centric services, in an accountable and effective manner.
Outcome 3: Government defines the policy reforms, guidance and instruments required to facilitate financial services for migrant workers and their families.
For this Terms of References (ToRs), under Outcome 1 of this project, UNCDF is seeking private institutions such as financial institutions, business development institutions, business associations, fintech companies, microfinance institutions, payment service operators/providers, relevant startups etc. , that can sustainably offer digital financial literacy (DFL) to the migrant workers and their family members, especially women. This initiative aims to empower migrant workers and their families to access financial services and efficient remittance management.
UNCDF seeks to partner with a private organization, or potentially a consortium of organizations, to tackle a critical challenge hindering Bangladesh's economic development which is the underutilization of migrant remittances. Despite significant volumes of remittances flowing into the country, a substantial portion remains trapped in informal channels, hindering national economic benefits and exposing migrant workers and their families to financial risks. Additionally, limited financial and digital literacy among these families restricts their ability to effectively manage and leverage these resources for long-term financial stability and investment.
UNCDF is committed to unlocking the full potential of remittances for sustainable development in Bangladesh. To achieve this, UNCDF will provide a competitive grant to the selected organization(s) to support the development, implementation, and monitoring of innovative Digital Financial Literacy (DFL) solutions. This grant will empower the chosen partner(s) to design and deliver impactful programs that address the specific needs of migrant workers and their families, particularly women, residing in the six targeted districts.
UNCDF would like to partner with an entity that can develop DFL solutions that are:
Gender-Smart: The ToR recognizes the unique challenges faced by women in accessing financial services and participating in financial decision-making. The selected proposal will demonstrate a clear understanding of these challenges and propose strategies to ensure women actively participate and benefit from the DFL programs.
Culturally Relevant: The DFL solutions should be tailored to the specific needs and cultural context of migrant worker communities in the targeted districts. This may involve utilizing local languages, leveraging existing community networks, and developing content that resonates with the target audience.
Action-Oriented: The DFL programs should equip participants with practical skills and knowledge to manage their finances effectively. This could include training on budgeting, saving, investing, sending and receiving remittances through formal channels, and utilizing mobile banking services.
This ToR prioritizes both immediate impact and long-term sustainability. Applicants should propose solutions that can be:
Scalable: The DFL programs should be designed to be easily replicated and scaled in other districts across Bangladesh.
Tech-Enabled: Leveraging digital platforms and mobile technologies can ensure wider reach and accessibility for geographically dispersed migrant communities.
Partner-Driven: The proposal should foster collaboration between the NGOs, financial institutions, fintech companies, and community-based organizations to create a robust ecosystem for financial inclusion.
All applicants need to cofund in cash (for costs such technical resources, staff, and operational expenses) at least 40% of the total project cost.
***
Please submit your proposal trough this e-investment platform. Incomplete submissions or submissions using other templates or sent by other electronic or non electronic means will not be eligible.
For more information please download the following documents:
- Terms of Reference
- Instructions to TOR Applicants
- Main application guidance document
- Low Value Performance Based Agreement
- Budget Template
- CV template
- Partner Capacity Assesement Tool - PCAT
- Risk Assesment Tool for private sector
A performance-based payment (PBP) grant implies that no advance payments will be made. Grants amounts that are contingent on the successful achievement of pre-determined milestones and targets. Achieving the milestone (s) and the target (s) will therefore trigger a grant payment. Grant payments will be reimbursements for funds spent by the grantees, according to the project implementation plan and pre-agreed milestones and targets. The Grantee will be responsible of providing a comprehensive and compliant financial report reporting all the financial transactions relating to the grant. The Grantee will need to keep supporting documents related to these transactions to justify all actual costs incurred.
For queries write to the following address: queries@uncdf.org with the following subject: 241115 - BGD - Development of Innovative Digital Financial Literacy Solutions for Migrant Workers or their Family Members, Particularly Women.