Request for proposals: Outcomes-Based Finance Consultancy Assignment

Bankers without Boundaries (BwB), an innovator in global finance, is an investment banking, asset management and advisory firm focused on delivering value to our clients that benefit the environment and society. Founded in 2013, BwB is powered by former investment bankers and is a not for profit, with operations in Ireland, the United Kingdom & Singapore. BwB serves the financial needs of governments, institutional clients, corporates, high net worth individuals, cities, and foundations worldwide in meeting the most pressing social and environmental challenges.

We are seeking a consultant (individual or organisation) to support the design of an outcomes-based financing instrument: a School Feeding Impact Bond in Rwanda. 

Link to full RFP document: http://bit.ly/3PPdNMo (please copy and paste in browser)

The consultant will produce a Technical Design Report that establishes the outcome measurement framework and baseline methodology for the Bond. This includes defining robust, evidence-based indicators, measurement approaches, and verification requirements to support outcome-based payments.

The assignment will involve reviewing programme documentation, engaging with key stakeholders, and developing a technically rigorous and independent assessment of proposed outcome indicators, including student nutrition (BMI-for-age), school attendance, and stunting (HAZ).

The consultant will be responsible for:

• Assessing and refining outcome indicators and proposing alternatives where appropriate
• Designing attribution methodologies and measurement approaches
• Developing detailed technical specifications for each indicator
• Recommending outcome targets, thresholds, and payment structures
• Ensuring alignment with Rwanda’s national data systems and operational context
• Identifying measurement risks and mitigation strategies

This is a short-term consultancy (approximately 15–25 working days over 6–8 weeks), commencing in April 2026. The output will inform transaction structuring and will be used by investors, outcome funders, and verification agents.

We are looking for consultants with strong expertise in evaluation design, outcome measurement, and development finance, particularly in outcomes-based financing or impact bonds.

Applicants should demonstrate:

• Proven experience in designing evaluation frameworks and outcome measurement systems
• Strong analytical and methodological skills, including experience with quasi-experimental methods (e.g. comparison groups, difference-in-differences)
• Ability to critically assess and refine indicators, attribution approaches, and payment mechanisms
• Experience working in education, nutrition, or public health contexts (preferably in low- or middle-income countries)
• Knowledge of Rwanda’s education, health, or data systems is highly desirable
• Ability to produce rigorous, evidence-based technical reports suitable for institutional stakeholders

Additional requirements:

• Ability to work independently and exercise objective professional judgement
• Strong written communication skills in English
• Capacity to deliver within a short, intensive timeline

Link to full RFP document: http://bit.ly/3PPdNMo (please copy and paste in browser)

Submission Deadline: 7 April 2026