Assessment for Promoting Digital Financial Inclusion of the Poor

• Country: Lao PDR
• Summary: Assessment for Promoting Digital Financial Inclusion of the Poor
• LAT Ref No: 106277748
• Deadline: 05 Sep 2024
• Financier:
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: 0002010802
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• Description:
• Expression of Interest are invited for Assessment for Promoting Digital Financial Inclusion of the Poor in Lao PDR. · Issue Date and Time: Aug 23,2024 05:37 · Closing Date and Time: Sep 05,2024 23:59 Lao Pdr Launched its First Conditional Cash Transfer (Cct) Program; Helping Hand; In 2020. The Program Aims to Improve the Living Conditions of Poor and Vulnerable Households in Villages across 12 Districts in Four Northern Provinces (Xieng Khouang; Houaphan; Phongsaly; And Oudomxay). In its First Phase; The Program Targeted over 20;000 Beneficiary Households. Due to its Success; The Government has Decided to Expand the Program to Additional Districts in the Northern Provinces and to Three Southern Provinces (Savannakhet; Saravanh; And Sekong).Despite the Program's Achievements; The Transition to Digital Payments has been Sluggish. As of Early 2024; Only about 1;100 Beneficiaries; Representing 4.6 Percent of the 24;000 Beneficiaries; Receive Payments Electronically through Mobile Wallets. The Government; Under Rrpm Ii; Aims to Increase this to 20 Percent in the Coming Years; A Goal that Reflects the Current Low Availability of Cash-in/Cash-out Points within the Target Areas; With only 20 Percent of Villages Having Such access. most Cct Recipients are Women from Rural Villages; Presenting a Significant Opportunity to Enhance Financial Inclusion among this Demographic. While Beneficiaries can Choose between Various Payment Methods—including Cash; Mobile Money Accounts; Or Interbank Transfers—Most Continue to Receive Payments in Cash Due to Barriers Such as a Lack of Mobile Network Coverage; Low Mobile Phone Ownership; Limited Digital Literacy; And Insufficient Awareness of Financial Access points.a Recent Survey to Cct Beneficiaries Revealed that 52 Percent of the Interviewed Beneficiaries would be Interested in Receiving Payments via Bank or Mobile Money Accounts if Supported in Account Opening; Highlighting the Need for Stronger Digital and Financial Literacy efforts. objectives: the Main Objectives of this Procurement are to Hire a Firm Which:1. Conduct a Qualitative Survey to Understand the Challenges Faced by Cct Beneficiaries in Transitioning to Digital Payments; And 2. Analyze the Current Financial Literacy Module and Provide Recommendations for Improving Digital Financial Literacy among Beneficiaries. The World Bank Group Reserves the Right to Publicly Disclose Contract Award Information, including but not Limited to, Name of Company Receiving the Award, Brief Description of Services, and Contract Award Amount, for Any Contract Award Valued over Us$250,000. Offeror's Proposal and Contractual Documents will Remain Confidential and Therefore not Subject to Disclosure. The World Bank Group Values Supplier Diversity and Encourages Businesses Owned by Women, Minorities, Lesbian, Gay, Bisexual and Transgender (Lgbt) Individuals, and People with Disabilities to Participate in this Opportunity. Please Indicate in the Response if You Meet One of These Diverse Categories and Specify the Certification Body You Utilize.
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