Overview
REQUEST FOR EXPRESSIONS OF INTEREST - FIRMS
The Government of Barbados (GOBD) has received financing from the Caribbean Development Bank (CDB) towards the cost of the project – “Promoting Access to Equity Financing to Small and Medium Sized Enterprises Through the Innovation and Growth Market of the Barbados Stock Exchange” and intends to apply a portion of the proceeds to eligible payments under this contract. Payment by CDB will be made only at the request of GOBD and upon approval by CDB, and will be subject, in all respects, to the terms and conditions of the Loan Agreement. The Loan Agreement prohibits a withdrawal from the Loan Account for the purpose of any payment to persons or entities, or for any import of goods, if such payment or import, to the knowledge of CDB, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations. No party other than GOBD shall derive any rights from the Loan Agreement or have any claim to the proceeds of the Loan.
The Ministry of Energy, Business Development and Commerce is the Executing Agency of this Project and now wishes to procure consultancy services to “Develop a Diagnostic Tool and Conduct Diagnostic/Gap Assessment and Provide Technical Assistance to Small and Medium-sized Enterprises in Barbados.”
The objective of the consultancy is to develop and administer a diagnostic tool capable of assessing the capacity of Barbadian SMEs, to publicly list on the Innovation and Growth Market (IGM) of the Barbados Stock Exchange (BSE), conduct gap analysis and readiness assessments for thirty (30) selected SMEs, and provide short term technical assistance to twenty (20) SMEs to close identified gaps and to ensure their compliance and organizational capacity to meet IGM listing requirements.
Further details can be found in the attached Terms of Reference (TOR). The duration of the assignment is expected to be for a period of eight (8) calendar months comprising seventy (70) person days for the development of the Diagnostic Tool and conducting the gap analysis and readiness assessment, and the remaining period for the provision of technical assistance to the twenty (20) short-listed SMEs.
The Ministry of Energy, Business Development and Commerce now invites interested, eligible consulting firms to submit Expressions of Interest (EOI) for the provision of these consultancy services.
Eligibility
Consultants shall be eligible to participate if:
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in the case of a body corporate, it is legally incorporated or otherwise organised in an eligible country, has its principal place of business in an eligible country and is more than 50 per cent beneficially owned by citizen(s) and/or bona fide resident(s) of eligible country(ies) or by a body(ies) corporate meeting these requirements;
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in the case of unincorporated firms, the persons are citizens or bona fide residents of an eligible country; and
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in all cases, the consultant has no arrangement and undertakes not to make any arrangements, whereby any substantial part of the net profits or other tangible benefits of the contract will accrue or be paid to a person not a citizen or bona fide resident of an eligible country.
Eligible countries are member countries of CDB. Consultants are advised to review the eligibility criteria detailed in Section 4, and conflict of interest provisions in Section 5 of the Procurement Procedures for Projects Financed by CDB (January, 2021), as applicable and as published on CDB’s website.
In the assessment of submissions, consideration will be given to technical competence, qualifications and experience, local and regional experience on similar assignments, financial capability, and existing commitments. Key Experts will not be evaluated at the shortlisting stage.
Instructions
Interested consultant teams are required to submit their Expression of Interest using the “EOI Consulting Firms template” attached to this REOI or can be made available upon request by contacting the First Address below or downloaded from the Specific Procurement Notice on CDB’s website.
All information must be submitted in English. Further information may be obtained from the first address below between 9:00 and 16:00 hours Monday to Friday.
An electronic copy of the Expressions of Interest must be received at the addresses below no later than 16:00 hours (Barbados Time) on March 27, 2026.
Following the assessment of submissions, a short-list of not less than three and not more than six applicants will be provided with full terms of reference and invited to submit technical and financial proposals to undertake the assignment. GOBD reserves the right to accept or reject late applications or to cancel the present invitation partially or in its entirety. It will not be bound to assign any reason for not selecting any applicant and will not defray any costs incurred by any applicant in the preparation and submission of Expressions of Interest.
Contact
Address 1
Ministry of Energy, Business Development and Commerce
1st Floor Warrens Office Complex, Warrens
St. Michael
BARBADOS
https://gov-bb.bonfirehub.com/portal/?tab=openOpportunities