Rwanda has set Vision 2020 and the Economic Development and Poverty Reduction Strategy (EDPRS) 2008-2012 as its long and medium term roadmap respectively, to pursue the development ambition through various Sectoral Strategic Plans and associated Medium Term Expenditure Frameworks. The Vision 2020 states where Rwanda wants to be in 2020 – reaching middle-income country status by transforming its economy from a subsistence agriculture economy to a knowledge-based society with high levels of savings and private investment, thereby reducing the country’s dependence on external aid. The EDPRS 2008-2012, within this context, identifies and implements priorities through the national budget and private investments. The public expenditures to enhance Rwanda’s development agenda are both internally financed (tax revenues and non tax revenues) and by externally mobilized resources (grants, concessional and non concessional loans). Rwanda has achieved considerable progress in terms of increasing domestic revenues, surpassing 50% of the national budget as of today. However, as it is the case of many developing countries, Rwanda still relies on foreign resources for financing the development budget deficit. Despite the fact that ODA to Rwanda has increased considerably since 2006, the financing gap, shown through the development budget deficit, is acknowledged even for Government of Rwanda (GoR) priority programs. Realization of the Vision 2020 requires considerable public and private investments, which are not met by current domestic resources as well as external resource flows. External aid is seen as a catalyst in realizing this objective, with increased attention given to additional financing sources in order to finance the investment needs. Within this context, Rwanda’s resource mobilization strategy is needed to guide short-, medium-, and long-term resource mobilization efforts of the Government of Rwanda. In responding to this need, particularly to guide the External Finance Unit (EFU) of the Ministry of Finance and Economic Planning (MINECOFIN), a draft Resource Mobilisation Strategy has been prepared. However, it has become apparent that the draft requires further improvements in order to effectively guide GoR’s strategic direction in the sourcing of public and private investments with a view to progressively phase out Rwanda’s dependency on aid. Furthermore, this strategy will outline the direction MINECOFIN will take in its resource mobilization efforts, with a particular focus on deepening partnerships with emerging donors, South-South cooperation, and concessional, innovative financing for particularly, but not limited to, strategic investments.
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Duties and Responsibilities | |
The overall objective of this assignment is to review and finalise Rwanda’s draft Resource Mobilisation Strategy to guide MINECOFIN’s resource mobilization efforts as guided by Rwanda’s Aid Policy. Consideration should be given to the debt sustainability analysis in order to guarantee the strategy’s medium and long-term sustainability. Specifically, the Consultant is expected to assess current financing gaps as well as to analyze feasibility, appropriateness, and applicability of a variety of existing sources of external finance resources. This should then provide strategic guidance to the appropriate types of aid and resources GoR should focus on, and what key strategic actions Rwanda should prioritise in order to mobilize appropriate resources. In addition, as part of the scope of work, the consultant is to facilitate a working session that is aimed at assisting the Government of Rwanda to develop an aid exit.
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Competencies | |
The main competencies required from the international consultant are:
The consultant will have excellent written and verbal communication skills in English and should be knowledgeable about current developments in Rwanda, the region, and Donor and financing environment.
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Required Skills and Experience | |
| Academic Qualifications: Master’s degree Years of experience: 10 Years experience in economics, development finance, or other relevant fields. |
Review and finalization of the draft Rwanda External Financial Resources Mobilization Strategy
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