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  • All contracts regardless of size will go to tender from June 1

All contracts regardless of size will go to tender from June 1

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Cabinet Notes: The Procurement Act comes into effect on June 1, 2021, when the Tenders Board Act will no longer be the law.

It will require that all contracts, regardless of size, come before the equivalent of the tenders board for approval. The discretion to waive tendering will have come to an end.

Three officials from the Ministry of Finance were asked to provide the Cabinet with an overview of the fiscal and economic performance of the nation-state during year 2020, and to share proposed fiscal strategies in 2021 to lower the level of economic pain which the Covid-19 crisis inflicted.

The Deputy Financial Secretary, the Budget Director and the Debt Manager provided Cabinet with data and graphs showing that the revenue collected in 2020 fell below 2019 levels by approximately $100 million dollars.

Not surprisingly, collections in the first three months of 2020, before the lockdown caused by Covid-19 on March 26, 2020, the revenue collected exceeded the amounts of the same period in 2019 by 18%.

The growth which was predicted by the ECCB for 2020 was 7.5%; however, the impact of Covid-19 has been to cause the economy to shrink. As gross domestic product (GDP) decreases, the debt to GDP ratio rises, causing the number to move from 70.3% up to 99.5%, though borrowings were not increased spectacularly.

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Tax collection and compliance were pursued by the government arms charged with that responsibility, such that property taxes moved from $18 million to $31 million; more than 5,000 new properties were brought on to the tax rolls.

The Cabinet made a determination to reduce the amount of discretional waivers; the officials reported that waivers amounted to almost $98 million dollars in the year, and that by reducing waivers, tax collection overall would be positively impacted.

The waivers of duties and taxes on imported/used automobiles has already ceased, and that approach has strengthened collections.

A discussion on the Revenue Recovery Charge (RRC) followed. Collection of revenues from tourism accommodation has also risen as more small properties are identified, primarily air b-n-b properties, and taxes collected from the owners.

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]