Sida-USAID guarantee in Zimbabwe

A partnership agreement between Sida and USAID on provision of risk-sharing loan guarantees to financial institutions has so far resulted in 15 guarantees jointly funded by the two aid agencies. 

Now Sida announces a technical assistance for a new guarantee for Barclays Bank of Zimbabwe for providing credit to small and medium-sized enterprises in Zimbabwe. This guarantee, financed by Sida, USAID and the British aid agency DfID, is for a USD 40 million revolving fund for small businesses.

The purpose of the guarantee is to increase lending to an underserved sector of borrowers, including businesses in the agricultural sector, those owned by women and young people, as well as micro-finance institutions.

The tasks of the consultant include the following: develop a monitoring and evaluation framework with indicators that measure intended results; improve and adapt the services and operations of Barclays Bank to better address financial needs of the target group; build the capacity of potential and actual borrowers.

The deadline for submitting tenders for this technical assistance contract is March 4, 2016.