Development banks provide a lot of stable funding to the developing countries, and their projects focus on their needs and growth areas. Typical services offered by these development banks are:
- Long-term loans at market rates, very-long-term loans (credits) below market rates.
- Grants to developing borrower countries.
- Technical assistance project which often focus on advisory services and capacity building in target countries.
Private companies can gain great opportunities from participating in projects funded by multilateral development banks (MDBs) that are typically run by governmental institutions in the recipient countries.
In addition, the MDBs often have private sector operations that may fund corporations or fill market gaps in private funding. An example of such an institution is the IFC -International Finance Corporation, which belongs to the World Bank Group.
With bright growth prospects, emerging markets have become increasingly attractive to the private sector. The ongoing and planned projects of development banks, as well as their publications, can serve as prime indicators on future trends and growth areas. Moreover, these projects run in the volumes of billions of dollars and they all need consulting, goods and services by the private sector. Thus, development banks are some of the largest consumers of consulting services worldwide.
Developing collaboration and new business models
Solved is interested in looking at ways how these services are procured and how a networking approach could be utilized in collaboration with Solved and other new business models. Such an approach involves sourcing from flexible networks and co-creating solutions instead of purchasing fixed consulting assignments from individuals or consulting companies.
Solved is presently developing solutions for answering some of the challenges in the present processes of development banks:
- Increased dialog with end beneficiaries and inclusive processes.
- Increased local consultant participation.
- Tailored, but flexible teams for specific challenges.
- Work sharing by utilizing digital platforms.
Please feel free to contact us, if you have solutions or ideas for the above or especially if you feel that you have expertise that could be used in IFI projects.
Sami Humala and Katerina Monikainen
Solved – The Cleantech Company