[모집] STC-Independent External Evaluation of Seoul Center for Finance & Innovation Trust Fund

Independent External Evaluation of the Seoul Center for Finance and Innovation Trust Fund Phase 4

Terms of Reference

The Seoul Center for Finance and Innovation (SCFI) was established in 2011 through a partnership between the World Bank Group’s Finance, Competitiveness, and Investment Global Department and the Ministry of Finance and Economy of the Republic of Korea. SCFI supports financial and private sector development in the East Asia and Pacific region through grant financing, analytical work, advisory services, and knowledge exchange.

Since its establishment, SCFI has mobilized more than US$50 million through 52 grants and built a strong network of over 50 Korean partner institutions. In May 2023, the World Bank Group and the Ministry of Finance and Economy launched Phase 4 (2023 to 2027), with total contributions expected to reach US$56 million by the end of the phase.

Phase 4 supports activities under three pillars:

• Pillar 1. Strengthening Financial Stability and Resilience: Support for financial sector diagnostics, regulation and supervision, crisis management, insolvency, capital markets, housing finance, and financial integrity.
• Pillar 2. Fostering Innovative and Sustainable Finance: Support for fintech, digital financial services, payment systems, consumer protection, cybersecurity, MSMEs, climate and sustainable finance, and financial inclusion.
• Pillar 3. Promoting Innovation and Competitiveness: Support for entrepreneurship, startup ecosystems, green competitiveness, university-industry collaboration, quality standards, technology adoption, and export promotion.

Objective of the Evaluation

The purpose of this independent evaluation is to assess the design, implementation, and performance of SCFI Trust Fund Phase 4 grant-financed activities in the East Asia and Pacific region and to provide practical recommendations to strengthen program operations and inform future strategic decisions.

The evaluation will focus exclusively on SCFI-financed grant activities and will be guided by the OECD DAC evaluation criteria: (i) relevance, (ii) effectiveness, (iii) efficiency, (iv) impact, (v) sustainability, and (vi) coherence.

Scope of Work

The evaluation will be carried out by two Short-Term Consultants (STCs):

• One international evaluation consultant (Lead)
• One Korea-focused consultant

The evaluation will cover grants approved between January 2025 and September 2026 and will primarily focus on grants under implementation. It will be a formative evaluation assessing progress to date, identifying lessons, and highlighting opportunities to strengthen future effectiveness and impact.

The assignment is expected to include:

• Review of program documents (legal agreements, annual reports, results framework, etc.)
• Review of grant-specific materials (concept notes, progress reports, etc.)
• Interviews with World Bank staff, Korean stakeholders, partner institutions, and beneficiaries
• Surveys or questionnaires for client counterparts, as appropriate
• Preparation of reports, incorporating comments, and sharing key findings through presentations

Deliverables and Timeline

The assignment is expected to run from June 2026 to March 2027.

• Inception Report: July 2026
• Discussion of emerging findings: October 2026
• Draft Evaluation Report: November to December 2026
• Presentation of draft findings: January 2027
• Revised draft report: February 2027
• Final Evaluation Report: March 2027

Qualifications

General qualifications for all consultants:

• Advanced degree in relevant fields (M&E, economics, public policy, etc.)
• At least 8 years of relevant experience conducting evaluations
• Experience with World Bank Group operations and trust fund mechanisms
• Strong analytical and report-writing skills in English

Additional qualifications for the Korea-focused consultant:

• Familiarity with Korea’s development cooperation context and MOFE processes
• Strong knowledge of Korea’s development experience and ODA policies
• Fluency in Korean and English, written and spoken

Level of Effort (Indicative)

• International consultant: 60 working days
• Korea-focused consultant: 30 working days

Submission of Applications

Interested candidates should submit their CV and a short cover letter by March 31, 2026 to:

scfi@worldbank.org