Background
Interest candidate has to access procurement notice Ref.: https://procurement-notices.undp.org/view_negotiation.cfm?nego_id=4269 Based on World Bank’s Group Report (2016), Indonesian migrant workers made a major contribution to the economy, sending over Rp 118 trillion back to Indonesia in remittances in 2016.[1]. The benefits that accrue from international labour migration cover a multitude of aspects, from the various skills acquired by working overseas, the broad life-enriching experience gained by migrants while living abroad beyond the routine of working and earning income. Migrant workers need financing support pre-departure migration, during their migration process, as well as after they return to Indonesia to support their economy and to also contribute to the Indonesia’s GDP. An important part of the solution to help close this gap is innovative financing – the use of financing mechanisms to mobilize capital for a more resilient and inclusive world. Innovative financing works at the intersection of finance and international development, de-risking and mobilizing private capital for development impact. In this context, public money can help attract private investment. That is, donor resources should be applied to absorb certain risks that constrain private sector involvement in impact investment. For UNDP, innovative finance is an important area of growth and innovation for financing the implementation of the SDGs. This will help to achieve SDG 10.7 (Facilitate orderly, safe, regular and responsible migration and mobility of people) and SDG 17.17 (Encourage and promote effective public, public-private and civil society partnerships, building on the experience and resourcing strategies of partnerships). UNDP, and UN more broadly, needs to engage in innovative finance to create a more sustainable development. Accordingly, UNDP Indonesia would like to leverage its experience in innovative financing for migration. It focusses on how to attract, channel and direct public and private finance for development, including from philanthropy, private investors (e.g., impact investors, angel investors) and religious organizations. It also places emphasis on how such alternative finance is contributing towards migration issues. In order to seek possibility of financing for migration, a dedicated feasibility study on innovative finance mechanism on migration in Indonesia needs to be conducted and it will be duly consulted with stakeholders how to materialize it based on the feasibility study. Migration Governance Project and Innovative Financing Unit Lab plan to have several activities with the consultant to diagnose financing landscape that may be beneficial for migration. In order to achieve the goal with several desired changes:
The feasibility study on innovative financing mechanism on migration will be implemented for and with direct participation and in close partnership with:
The Consultant will work closely with Innovative Financing Lab unit and the government counterparts of the Migration Governance project. For example, the consultant will have a regular communication through virtual meeting, etc. In more specific term, the consultant will engage and collaborate with government and CSOs such as:
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Duties and Responsibilities
Scope of Work
Under the direct supervision of the Technical Analyst for Innovative & Sustainable Finance and Technical Officer of Migration Governance project, the consultant will lead research on exploring the potentials of innovative finance for migration. He/she will be collecting the data and feeding the information from the ground for the research. The consultant will work closely with UNDP Innovative Financing Lab and Migration Governance team. The main focus areas of the research are:
Describe the status of innovative finance sector with its legislative framework in relation to migration, both national and sub-national level;
Identify ways in which innovative finance flows for migrations currently take place in Indonesia: both official and unofficial flows, volumes and trends over time and reasons for using different channels;
Identify concrete cases to leverage those towards certifiable migration-related projects with potential enabling/limiting factors for innovative finance, and describe where and when alternative finance mechanisms and fintech (such as microfinancing, crowdfunding, fintech, blockchain) could enhance the mobilization of funds to migration in Indonesia and how to secure that the new mechanisms are feasible;
Describe concrete opportunities to leverage those towards certifiable migration-related projects and enabling/limiting factors for innovative finance;
Identify potential partner institutions (public, private, and NGOs) for migration-related innovative finance in Indonesia.
In addition, the study should explore the role of UNDP and similar entities to work as an intermediary in channelling innovative funds into migration-related projects and describe what potential limitations there could be and what enabling actions are needed.
The findings will be gathered into a final report with concrete case examples (with specific data and evidence). The consultant will prepare a presentation on the findings for UNDP Indonesia.
Competencies
Competencies and skills requirement:
- Strong analytical, reporting and writing skills.
- Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability.
- Excellent negotiating and networking skills with strong partnerships in technical organizations in the practice area.
- Has familiarity or basic understanding on migration related areas such as with migrant workers or refugees.
- Fluency in English and Bahasa Indonesia with excellent written communication skills, and strong experience writing reports.
- Good teamwork and interpersonal skills.
At least three (3) the most recent professional references of previous supervisors. References may also include peers.
Required Skills and Experience
Academic Qualifications:
Minimum master’s degree in development studies, economics, finance, business and policy administration, social sciences, international relations or other fields related to the scope of the assignment
Years of experience:
Minimum 5 years for Master or 6 years for Bachelor of experience working on development studies, economics, finance, business and policy administration, social sciences, international relations or other fields related to the scope of the assignment.
Experience in assisting or developing study related to finance or economics.
Experience in engaging with local stakeholders (e.g., government, CSO).