BIFSIR: Building an Inclusive Financial Sector in Rwanda (2010-2014) - Final Evaluation

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Evaluation Plan:
2013-2018, Rwanda
Evaluation Type:
Final Outcome
Planned End Date:
07/2015
Completion Date:
09/2015
Status:
Completed
Management Response:
Yes
Evaluation Budget(US $):
35,070

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Title BIFSIR: Building an Inclusive Financial Sector in Rwanda (2010-2014) - Final Evaluation
Atlas Project Number: 00081703
Evaluation Plan: 2013-2018, Rwanda
Evaluation Type: Final Outcome
Status: Completed
Completion Date: 09/2015
Planned End Date: 07/2015
Management Response: Yes
Focus Area:
  • 1. Others
Corporate Outcome and Output (UNDP Strategic Plan 2014-2017)
  • 1. Output 1.1. National and sub-national systems and institutions enabled to achieve structural transformation of productive capacities that are sustainable and employment - and livelihoods- intensive
Evaluation Budget(US $): 35,070
Source of Funding: KOAICA, UNCDF, UNDP
Joint Programme: No
Joint Evaluation: Yes
  • Joint with UNDP, UNCDF
Evaluation Team members:
Name Title Email Nationality
Davy Serge Evaluation team leader davyserge@yahoo.fr BENIN
Gasana Charles National consultant cgasana@gmail.com RWANDA
GEF Evaluation: No
Key Stakeholders: UNCDF, UNDP, Government of Rwanda, KOICA
Countries: RWANDA
Lessons
Findings
Recommendations
1 Monitor and support the implementation of remaining projects and activities: Agent banking initiatives implemented by Umutanguha Finance, Support to PAJER(Parliament des Jeunes Rwandais) to deliver financial education and entrepreneurship trainings, Support to Micro Finance Institutions to develop Micro and Small Enterprises products, implementation of code of conduct by Association of Microfinance Institutions in Rwanda(AMIR) members, support to Ministry of trade and industry(MINICOM)/Hanga Umurimo to train women and Youth in entrepreneurship and to develop a database for Monitoring Proximity Business Advisors(PROBAS)activities in all districts, support to Rwanda Cooperative Agency to implement U-SACCO(UMURENGE Savings and Credit Cooperatives) automation process, support to central Bank of Rwanda (BNR) to conduct trainings, to organize workshops on new draft law with stakeholders at district level and conduct technical study tour.
2 Strengthen the staff capacity in Financial Sector Development Directorate of Ministry of Finance and Economic Planning to execute relevant policies, develop and analyse new policies and develop and manage M&E system without external support.
3 Strengthen the capacity of the central Bank to regulate and supervise new innovative financial services(e.g. mobile banking, agent banking etc.)
4 Assess systematically and regularly the impact or at least a satisfaction survey analysis of capacity building activities ( workshops,trainings,conference, study tours)
5 Develop and disseminate regularly communication materials about the achievements of the programme to all stakeholders through appropriate channels
6 Put in place a clear knowledge transfer mechanism to FSDD/MINECOFIN
7 Integrate environment considerations and specific financial products targeting only women and youth into the second phase of the programme
8 Develop standardized UNCDF IF project reporting templates and definition while maintaining flexibility for programme specificity.
9 Elaborate a clear phasing out strategy in the second phase of the programme
10 Create more synergy and collaboration with other UNCDF inclusive finance initiatives (YouthStart, Microlead, CleanStart, Making Access Possible, Mobile Money for the Poor etc) and incorporate them if possible into the second phase of the programme
11 Conduct a baseline study at the beginning of the BIFSIR II Programme
12 Collaborate with other donors/ partners (AFR/DFID, World Bank, GIZ, Terrafina) and other organizations involved in the inclusive financial sector development and women and Youth (Ministry of Youth and ICT, Ministry of Gender and Family Promotion, Ministry of Education etc.)
13 Conduct mid-term evaluation of the second phase of the BIFSIR Programme.
14 Use the Making Access Possible (MAP) tool which is a diagnostic and programmatic framework to support expanding access to financial services for individuals and micro and small businesses.
15 Programme governance structures must provide a suitable forum for strategic decision making and accountability oversight on strategic decisions and tasks. Representatives must periodically assess the performance of the programme.
16 Make the roles of Chief Technical Adviser or National Technical Adviser and Programme Manager separately in the design of the phase II of the programme.
17 Ensure to have a rigorous data based approach in designing the BIFSIR II programme. It is important of having measurable and strong indicators, baseline and targets for the Phase II of the programme
1. Recommendation: Monitor and support the implementation of remaining projects and activities: Agent banking initiatives implemented by Umutanguha Finance, Support to PAJER(Parliament des Jeunes Rwandais) to deliver financial education and entrepreneurship trainings, Support to Micro Finance Institutions to develop Micro and Small Enterprises products, implementation of code of conduct by Association of Microfinance Institutions in Rwanda(AMIR) members, support to Ministry of trade and industry(MINICOM)/Hanga Umurimo to train women and Youth in entrepreneurship and to develop a database for Monitoring Proximity Business Advisors(PROBAS)activities in all districts, support to Rwanda Cooperative Agency to implement U-SACCO(UMURENGE Savings and Credit Cooperatives) automation process, support to central Bank of Rwanda (BNR) to conduct trainings, to organize workshops on new draft law with stakeholders at district level and conduct technical study tour.
Management Response: [Added: 2015/11/11]

The recommendation is valid and it is being already carried out by the project team in Ministry of Finance and Economic Planning (MINECOFIN) and UNDP. The BIFSIR Annual Work plan and Budget (AWPB) 2015 has been extended to April 2016 upon a decision of the BIFSIR Steering Committee on 4th September 2015. UNDP poverty Reduction and Environment Unit (PEU) has several monitoring tools to closely monitor the activities. A PEU monitoring Plan is in place and UNDP corporate Planning system provides a platform for tracking the progress of project implementation and the achievement of results. At the one UN level, Programme Monitor(M&E system) has been operationalized to track all UN intervention in Rwanda including BIFSIR outputs. At the project management level, the project team and UNDP staff have regular IP meetings to closely monitor the implementation and solve any bottlenecks in the way. UNDP jointly with the project management team occasionally organizes field visits to witness and view the impact of the project on the ground.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
1.1.Ensure timely disbursement of funds and implementation of activities of the revised BIFSIR AWPB 2015
[Added: 2015/11/11]
UNDP,UNCDF BIFSIR project team, MINECOFIN FSDD 2016/06 Overdue-Initiated
1.2.Continue to support the project team to implement the remaining activities of 2015 Annual Work Plan and monitor and update on the progress of the remaining activities
[Added: 2015/11/11]
UNDP,UNCDF 2016/06 Overdue-Initiated
2. Recommendation: Strengthen the staff capacity in Financial Sector Development Directorate of Ministry of Finance and Economic Planning to execute relevant policies, develop and analyse new policies and develop and manage M&E system without external support.
Management Response: [Added: 2015/11/11]

The recommendation is valid and has already been reflected in the programming of the new phase of the Financial inclusion Programme.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
2.1.Ensure that the new programme document includes interventions that strengthen the Capacity of the staff of the Financial Sector Development Directorate of MINECOFIN specially in a. Planning b. Monitoring and Evaluation c.Development and analysis of new policiescapacity of the staff of the Financial sector Development Directorate of MINECOFIN, specially in
[Added: 2015/11/11]
UNDP, UNCDF 2016/06 Overdue-Initiated
3. Recommendation: Strengthen the capacity of the central Bank to regulate and supervise new innovative financial services(e.g. mobile banking, agent banking etc.)
Management Response: [Added: 2015/11/11]

The recommendation is valid and has already been reflected in the programming of the phase of the Financial Inclusion programme.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
3.1. Ensure that a new programme document includes interventions that address BNR staff capacity building of in: a. Regulation and b. Supervision of new innovative financial services
[Added: 2015/11/11]
UNCDF/UNDP/MINECOFIN/FSDD 2016/06 Overdue-Initiated
4. Recommendation: Assess systematically and regularly the impact or at least a satisfaction survey analysis of capacity building activities ( workshops,trainings,conference, study tours)
Management Response: [Added: 2015/11/11]

The necessity of the systematic and regular impact survey is acknowledged. this recommendation will depend on the scope of the new programme in term of budget, staffing, and the capacity of the project staff since a regular impact survey needs considerable resources and qualified personnel.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
4.1 Ensure that the new programme document includes interventions that address this recommendation
[Added: 2015/11/11]
UNCDF/UNDP/MINECOFIN/FSDD 2016/06 Overdue-Initiated
4.2. Ensure that the new program establishes key performance indicators, baseline,targets. Ensure that the new programme document includes a monitoring mechanism to track the progress of the indicators against targets.
[Added: 2015/11/11]
UNCDF/UNDP/MINECOFIN/FSDD 2016/12 Overdue-Initiated
5. Recommendation: Develop and disseminate regularly communication materials about the achievements of the programme to all stakeholders through appropriate channels
Management Response: [Added: 2015/11/11]

The recommendation is valid and already has been accrued out. Since 2014, the project published four promotional videos, one brochure, one banner and three success stories one of which was published on UNDP global website. The efforts will continue during the new programming cyscle.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
5.1. Produce and disseminate promotional material of BIFSIR achievements
[Added: 2015/11/11]
UNDP 2016/12 Overdue-Initiated
5.2. Ensure that the new programme documents includes approach's on promoting communication on results of the new programme
[Added: 2015/11/11]
UNDP/UNCDF/MINECOFIN/FSDD 2016/06 Overdue-Not Initiated
6. Recommendation: Put in place a clear knowledge transfer mechanism to FSDD/MINECOFIN
Management Response: [Added: 2015/11/11] [Last Updated: 2015/11/11]

This recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion programme.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
6.1 Ensure that a new programme document includes interventions that addresse knowledge transfer to MINECOFIN
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Initiated
7. Recommendation: Integrate environment considerations and specific financial products targeting only women and youth into the second phase of the programme
Management Response: [Added: 2015/11/11]

It is a valid recommendations. BIFSIR supported Microfinance Institutions have already developed financial products targeting women and youth under the current programme.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
7.1Ensure that a new programme document includes interventions that addresse supporting MFIs that target women and youth
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
8. Recommendation: Develop standardized UNCDF IF project reporting templates and definition while maintaining flexibility for programme specificity.
Management Response: [Added: 2015/11/11]

The recommendation is valid yet needs to be consulted between UNCDF and UNDP for harmonization.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
8.1Ensure that a new programme document includes clear guidance on project reporting.
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
9. Recommendation: Elaborate a clear phasing out strategy in the second phase of the programme
Management Response: [Added: 2015/11/11]

This recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion

Key Actions:

Key Action Responsible DueDate Status Comments Documents
9.1 Ensure that a new programme document includes a clear phasing out strategy.
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
10. Recommendation: Create more synergy and collaboration with other UNCDF inclusive finance initiatives (YouthStart, Microlead, CleanStart, Making Access Possible, Mobile Money for the Poor etc) and incorporate them if possible into the second phase of the programme
Management Response: [Added: 2015/11/11]

This recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion

Key Actions:

Key Action Responsible DueDate Status Comments Documents
10.1 Ensure that a new programme document includes interventions that create more synergy and collaboration with other IF initiatives
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
11. Recommendation: Conduct a baseline study at the beginning of the BIFSIR II Programme
Management Response: [Added: 2015/11/11]

This recommendation is valid. Recently the revised BIFSIR AWPB 2015 added an activity no. 1.5.1 ?Implementation of Making Access Possible for the Poor Tool (MAP)? which is a multi-country project to develop, codify and implement a toolkit of financial inclusion approaches to support expanding quality access to financial services for individuals and micro and small businesses. A MAP concept note, sector diagnostic report and financial inclusion road map will be developed under the current BIFSIR programme cycle.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
11.1 Consult MINECOFIN to assess whether and how MAP can complement the baseline study for the new programme.
[Added: 2015/11/11]
UNCDF, MINECOFIN FSDD 2016/06 Overdue-Initiated
12. Recommendation: Collaborate with other donors/ partners (AFR/DFID, World Bank, GIZ, Terrafina) and other organizations involved in the inclusive financial sector development and women and Youth (Ministry of Youth and ICT, Ministry of Gender and Family Promotion, Ministry of Education etc.)
Management Response: [Added: 2015/11/11]

This recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
12.1 Ensure that a new programme document includes interventions that help collaborate with other development partners in the financial sector in Rwanda
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
13. Recommendation: Conduct mid-term evaluation of the second phase of the BIFSIR Programme.
Management Response: [Added: 2015/11/11]

Given that the budget scope and implementation modality of the second phase programme has not been finalized itt will need to be discussed with stakeholders including Ministry of Finance and Economic Planning during the development of a second phase programme.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
13.1Ensure that the results of consultation with MINECOFIN and UNCDF on the timing and resources of mid-term evaluation are included in a programme document of the second phase programme.
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Initiated
14. Recommendation: Use the Making Access Possible (MAP) tool which is a diagnostic and programmatic framework to support expanding access to financial services for individuals and micro and small businesses.
Management Response: [Added: 2015/11/11]

The recommendation is already included in the revised BIFSIR AWP 2015. The revised BIFSIR AWPB 2015 included an activity no. 1.5.1 ?Implementation of Making Access Possible for the Poor Tool (MAP)?. How to use the MAP and the level of the usage will be determined once the report is published, taking the Rwanda context into consideration.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
14.1Review the MAP final reports recommendations to explore ways to use the tool on expanding access to financial services for individuals and micro and small businesses within Rwanda context.
[Added: 2015/11/11]
UNCDF, MINECOFIN FSDD 2018/06 Overdue-Not Initiated
15. Recommendation: Programme governance structures must provide a suitable forum for strategic decision making and accountability oversight on strategic decisions and tasks. Representatives must periodically assess the performance of the programme.
Management Response: [Added: 2015/11/11]

This recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
15.1.Ensure that a new programme document includes a governance structure that provide a suitable forum for strategic decision making and accountability oversight on strategic decisions and tasks
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Not Initiated
16. Recommendation: Make the roles of Chief Technical Adviser or National Technical Adviser and Programme Manager separately in the design of the phase II of the programme.
Management Response: [Added: 2015/11/11]

The recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
16.1Ensure that a new programme document includes clear roles and responsibilities of CTA (or NTA) and Programme Manager.
[Added: 2015/11/11]
UNDP, UNCDF, MINECOFIN FSDD 2016/06 Overdue-Initiated
17. Recommendation: Ensure to have a rigorous data based approach in designing the BIFSIR II programme. It is important of having measurable and strong indicators, baseline and targets for the Phase II of the programme
Management Response: [Added: 2015/11/11]

The recommendation is valid and needs to be reflected on the programming of the new phase II financial inclusion.

Key Actions:

Key Action Responsible DueDate Status Comments Documents
17.1 Ensure that a new programme document includes SMART indicators, baseline and target.
[Added: 2015/11/11]
UNDP/UNCDF/MINECOFIN/FSDD 2016/06 Overdue-Not Initiated
17.2. Ensure that the new program begins with a baseline survey and establishment of financial indicators.
[Added: 2015/11/11]
UNDP,UNCDF,MINECOFIN FSDD 2017/06 Overdue-Not Initiated
17.3. Ensure that the new program establishes key performance indicators, baseline and targets. ensure that the programme document includes a monitoring mechanism to track the progress of the indicators against targets.
[Added: 2015/11/11]
UNDP,UNCDF,MINECOFIN FSDD 2016/06 Overdue-Not Initiated

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