Nabilah Safira
TechInPacific – The Central Bank Solomon Islands (CBSI) is seeking qualified U.S firms to assist in its ICT Modernization Roadmap Project.
The task is for the interested firms to design a Technical Assistance (TA) which will be used as the central bank’s blueprint in making complementary reforms and upgrades to its current ICT infrastructure.
The central bank has been known to be in World Bank’s interest for decades already, in which development of its financial services has seen initiatives and development, such as the birth of the Pacific Payments, Remittances, and Securities Settlement Initiative (PAPRI) in 2010.
The project, which emulates strategies to improve the payment systems, was subsequently followed with bills and policies that detailed CBSI roles and its regulations in the electronic payments scene, such as the Central Bank of Solomon Islands Act of 2012 and the Payment Systems Bill of 2018 and 2020.
To ensure the central bank’s credibility and integrity in committing to the policies, certain ICT upgrades are then seen as necessary for the systems to be run efficiently. The TA will be used as a guideline and framework in the upgrading process, to prepare the bank’s technical staff of the ins and outs of the ICT systems, such as in-depth and practical knowledge of operations, as well as securing the upgrade to match the physical architecture of CBSI’s new headquarters.
The firm that successfully submitted its proposal and get accepted will be granted USD 606,350 by the U.S. Trade and Development Agency. The application will be closed after January 31st, 2022 at 5:00 PM Honiara, Solomon Islands Time.
About the Grantee
CBSI is the central bank of the government of the Solomon Islands. Established in 1983, CBSI is responsible for creating and administering Solomon Islands’ monetary policy, as well as issuing the country’s currency, treasury bills, and government bonds. The TA would primarily support the Information and Communication Technology Department, which manages CBSI’s ICT infrastructure.
About the Technical Assistance
The USTDA-funded TA will assist CBSI in developing a roadmap for key ICT infrastructure improvements, including upgrades to server rooms and data recovery facilities, network infrastructure, cybersecurity capabilities, and core banking applications.
