Ministry of Finance
Fiscal and Credit Risk Assessment Consultant (International)


Reference Number: (IUL)13-PFMU/13/2020/14



(Consulting Services – Individual Selection)


Republic of Maldives

Maldives Public Financial Management Systems Strengthening Project (PSSP)

Grant No: IDA D2950

Fiscal and Credit Risk Assessment Consultant (International)

[WB Ref No: MV-M0FT-151116-CS-INDV]


The Government of Maldives (GoM) has received financing from the World Bank toward the cost of the Maldives Public Financial Management Systems Strengthening Project (PSSP), and intends to apply part of the proceeds for consulting services.


The consulting services (“the Services”) include achieving Ministry of Finance (MoF) objectives relating to the successful implementation of fiscal and debt management tasks. This consultancy is expected to commence in February 2020. Three on-site missions of two-month duration each are required, with an interval of 2 months in between missions.


The detailed Terms of Reference (TOR) for the assignment can be found at Ministry of Finance website (


The Ministry of Finance now invites eligible individual consultants to indicate their interest in providing the Services. Interested Consultants should provide a CV including information that demonstrates that they have the required qualifications and relevant experience to perform the Services. The shortlisting criteria are:


  1.        I.                        Master’s Degree in Accounting, Finance, Economics, or related field
  2.     II.                        Minimum 15 years of relevant experience in sovereign debt management and contingent liabilities
  3.  III.                        Strong analytical skills
  4.  IV.                        Good written and oral English communication skills
  5.     V.                        Knowledge of the Commonwealth Meridian and/or the Commonwealth Debt Recording and Management System (CS-DRMS) will be an added advantage


The attention of interested 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, setting forth the World Bank’s policy on conflict of interest.  In addition, please refer to the following specific information on conflict of interest related to this assignment:

3.17 Consultants shall not be hired for any assignment that would be in conflict with their prior or current obligations to other clients, or that may place them in a position of being unable to carry out the assignment in the best interests of the Borrower. Without limitation on the generality of the foregoing, Consultants shall not be hired under the circumstances set forth below:

d. Consultants (including their experts and other personnel, and sub-consultants), that have a close business or family relationship with a professional staff of the Borrower, or of the project implementing agency, or of a recipient of a part of the Bank’s financing, or any other party representing or acting on behalf of the Borrower, that is directly or indirectly involved in any part of:

i. the preparation of the TOR for the assignment;

ii. the selection process for the contract; or

iii. the supervision of the contract, may not be awarded a contract, unless the conflict stemming from this relationship has been resolved in a manner acceptable to the


The individual will be selected based on the qualification and experience, in accordance with the procedures set out in the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD loans and IDA credits and grants by World Bank Borrowers, of July 2016, Revised November 2017 and August 2018.


Further information can be obtained at the address below during office hours (0800 to 1400 hours)


Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) by no later than 1300 hours Maldivian time on February 1, 2020.


Ministry of Finance

Public Financial Management Systems Strengthening Project

Attn: Mr. Abdulla Hassan

Project Director

Ministry of Finance

Ameenee Magu, Male’

Republic of Maldives

Tel:  (960)3349102, (960)3349106    

E-mail: [email protected]

             [email protected]

21 January 2020