REQUEST FOR EXPRESSIONS OF INTEREST FINANCIAL SERVICES

Institution: The Inter-American Development Bank
Country: The Republic of Suriname
Project: Paramaribo Urban Rehabilitation Program (PURP)
Sector: Urban Development and Housing
Abstract: Financial Services to support the Marketing, Underwriting, and Management of Subsidized Loans for Historic Preservation
Loan No.: 3905/OC-SU 
Bid No.: PURP-14SBCC-CF-PURP 1046-049
Deadline: June 29, 2020 (EXTENDED DEADLINE), 11:00 a.m. (Suriname Time) 

The Republic of Suriname has received financing from the Inter-American Development Bank (IDB), toward the cost of the Paramaribo Urban Rehabilitation Program (“PURP”), and intends to apply part of the proceeds to seed a subsidized loan fund to support private and nonprofit owners with the rehabilitation of historic properties in the historic center of Paramaribo (Subsidized Loans for Historic Preservation, “SLHP”).

The financial services requested include marketing, underwriting, and management of the SHLP. The SLHP is funded with approximately USD$1,650,000. These loans are intended to reduce capital costs associated with rehabilitation of historic buildings by providing low-cost gap financing to qualified property owners and businesses investing in the rehabilitation of historic properties in the inner city of Paramaribo. The expected duration of the service is 18 months, with a possibility for extension. 

The selected RESPONDENT will work collaboratively with the PURP as well as other key project stakeholders including the, Ministry of Education, Science and Culture (“MESC”), Stichting Gebouwd Erfgoed Suriname (Suriname Built Heritage Foundation, “SBHF”), and the Ministry of Finance (“MoF”) to manage the SLHP.

Awarded rehabilitation projects will be expected to fulfil the PURP’s policy objectives of revitalizing the historic center as a driver for economic development, supporting the City’s cultural heritage through historic preservation, arts, and culture and attracting entrepreneurs and private investment, tourists, and a larger permanent resident population. Only buildings within the Paramaribo World Heritage Site and its (proposed) buffer zones will be eligible to apply.

Figure 1. Historic District Boundaries

The Ministry of Education, Science and Culture (MESC) through the PURP now invites eligible banks to indicate their interest in providing the Financial Services. The RESPONDENT must be able to comply to eligibility criteria of the IDB. The RESPONDENT must also comply with the following minimum requirements and provide appropriate documentation demonstrating their eligibility in their EOI response:

  1. Must be licensed to offer retail loans in Suriname and have experience in loaning and servicing funds, defining specific parameters of the loan fund, and designing underwriting guidelines.
  2. Must have a presence in Paramaribo to provide accessible counseling, support, and engagement to borrowers.
  3. Must have the ability to and experience in disbursing small and medium sized loans (up to USD$200,000) to retail customers.

In addition to meeting the minimum requirements, we also ask RESPONDENTS to provide answers to the following questions: 

  1. How is your bank equipped to run this program?
  2. What are the terms and conditions under which you are able to disburse funds in USD and SRD?
  3. What is your bank experience with running similar projects together with the government or international organizations

The short list may comprise entirely national consultants.

RESPONDENTS will be selected in accordance with the procedures set out in the Policies for the Selection and Contracting of Consultants financed by the Inter-American Development Bank GN-2350- 9 for the Quality Cost Based Selection (QCBS). RESPONDENTS which meet the minimum qualifications listed above may be invited to submit a detailed proposal through a subsequent Request for Proposal process. 

RESPONDENTS may associate with other firms in the form of a joint venture or a sub-consultancy to enhance their qualifications. For the purpose of establishing the short list, the nationality of a firm is that of the country in which it is legally incorporated or constituted and in the case of Joint Venture, the nationality of the firm appointed to represent it.

Further information can be obtained by email to purp.idb@gmail.com .

Expressions of interest must be delivered by e-mail to purp.idb@gmail.com by June 29, 2020, before 11:00 a.m. Suriname Time (SRT).

Project Implementation Unit (PIU) Paramaribo Urban Rehabilitation Program (PURP)
Attn: Ms. Natasja Deul, Program Coordinator PIU-PURP
Zeelandiaweg no. 7 – Fort Zeelandia
Paramaribo, Suriname
Tel: +597-421975
E-mail: purp.idb@gmail.com