The International Finance Corporation (IFC), a member of the World Bank Group, promotes sustainable private sector investment in developing countries to reduce poverty and improve people’s lives. Through its advisory services and donor-funded programs, IFC fosters financial and social inclusion by creating enabling environments where financial stability, access to finance, and risk management support private sector investment, capital market development, and equitable growth.

The DFS Project in Europe aims to promote financial inclusion and deepen financial markets in the Western Balkans and Eastern Europe by supporting digital banking, fintech, and embedded finance (EmFi). The project addresses systemic gaps through legal reforms, infrastructure development, and ecosystem strengthening.

This tender is designed to complement and align with IBRD’s ongoing technical assistance in the Western Balkans in modernizing payment systems through legal and regulatory reforms and infrastructure upgrades. The goal is to ensure that modern payment systems are adopted and used by private sector financial institutions, thereby enhancing domestic and cross-border financial flows, reducing transaction costs, and fostering innovation.

Objective of the Assignment

IFC seeks to engage a qualified vendor to support two strategic workstreams under the DFS project, with a strong emphasis on enabling private sector financial institutions to adopt and deliver modern payment solutions:

1.       Support the development of Overlay Services for Fast Payment Systems by the private sector

2.       Support to the public sector in developing the guiding documents for the Instant Payment Systems (IPS scheme rules and overlay services) in Bosnia and Herzegovina

The target countries for this initiative include Albania, Bosnia and Herzegovina, Georgia and Kosovo.

Note: It should be noted that most of the Balkan countries are aiming to implement the ‘TIPS Clone’ and this shall be taken into account in provision of the services. The assignment is also consultative in nature and does not require any infrastructure/IT implementation role.

SELECTION OF CONSULTING FIRMS BY THE WORLD BANK GROUP

REQUEST FOR EXPRESSION OF INTEREST (EOI)

Electronic Submissions through WBGeProcure RFx Now

ASSIGNMENT OVERVIEW

Assignment Title: Facilitate the utilization of instant payment infrastructure by the private sector

Assignment Countries:

• Albania
• Bosnia and Herzegovina
• Georgia
• Kosovo

ASSIGNMENT DESCRIPTION

The International Finance Corporation (IFC), a member of the World Bank Group, promotes sustainable private sector investment in developing countries to reduce poverty and improve people’s lives. Through its advisory services and donor-funded programs, IFC fosters financial and social inclusion by creating enabling environments where financial stability, access to finance, and risk management support private sector investment, capital market development, and equitable growth.

The DFS Project in Europe aims to promote financial inclusion and deepen financial markets in the Western Balkans and Eastern Europe by supporting digital banking, fintech, and embedded finance (EmFi). The project addresses systemic gaps through legal reforms, infrastructure development, and ecosystem strengthening.

This tender is designed to complement and align with IBRD’s ongoing technical assistance in the Western Balkans in modernizing payment systems through legal and regulatory reforms and infrastructure upgrades. The goal is to ensure that modern payment systems are adopted and used by private sector financial institutions, thereby enhancing domestic and cross-border financial flows, reducing transaction costs, and fostering innovation.

Objective of the Assignment

IFC seeks to engage a qualified vendor to support two strategic workstreams under the DFS project, with a strong emphasis on enabling private sector financial institutions to adopt and deliver modern payment solutions:

1. Support the development of Overlay Services for Instant Payment Systems by the private sector

2. Support to the public sector in developing the guiding documents for the Instant Payment Systems (IPS scheme rules and overlay services) in Bosnia and Herzegovina

The target countries for this initiative include Albania, Bosnia and Herzegovina, Georgia and Kosovo.

Note: It should be noted that most of the Balkan countries are aiming to implement the ‘TIPS Clone’ and this shall be taken into account inprovision of the services. The assignment is also consultative in nature and does not require any infrastructure/IT implementation role.

FUNDING SOURCE

The World Bank Group intends to finance the assignment / services described below under the following:

• BB: Bank Budget
• TF0C4053: IFC

ELIGIBILITY

Eligibility restrictions apply:

• [Please type list of restrictions]

SUBMISSION REQUIREMENTS

The World Bank Group invites eligible firms to indicate their interest in providing the services. Interested firms must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc. for firms; CV and cover letter for individuals). Please note that the total size of all attachments should be less than 5MB. Firms may associate to enhance their qualifications unless otherwise stated in the solicitation documents. Where a group of firms associate to submit an EOI, they must indicate which is the lead firm. If shortlisted, the firm identified in the EOI as the lead firm will be invited to the request for proposal (RFP) phase.

Expressions of Interest should be submitted, in English, electronically through WBGeProcure RFx Now

NOTES

Following this invitation for EOI, a shortlist of qualified firms will be formally invited to submit proposals. Shortlisting and selection will be subject to the availability of funding.

Only those firms which have been shortlisted will be invited to participate in the RFP phase. No notification or debrief will be provided to firms which have not been shortlisted.

If you encounter technical difficulties while uploading documents, please send an e-mail to the Help Desk at corporateprocurement@worldbank.org prior to the submission deadline.