Background

UNCDF is the UN’s capital investment agency for the world’s 49 least developed countries. UNCDF focuses on Africa and the poorest countries of Asia, with a special commitment to countries emerging from conflict or crisis. UNCDF programmes are designed to catalyze larger capital flows from development partners, national governments and the private sector, for maximum impact toward the Millennium Development Goals. UNCDF Asia-Pacific Regional Office covers the following programming countries: Bangladesh, Bhutan, Cambodia, East Timor, Lao PDR, Nepal, Solomon Islands and other Pacific Islands.

In Africa UNCDF is currently active in the following countries:

Senegal, Guinea, Sierra Leone, Liberia, Cote d'Ivoire, Ghana, Togo, Benin, Mali, Burkina Faso, Niger, Chad, Cameroon, the Central African Republic, the Democratic Republic of Congo, South Sudan, Ethiopia, Somalia, Uganda, Rwanda, Burundi, Tanzania, Malawi, the Comoros Islands, Mozambique, Madagascar and Lesotho.

The regional offices are also actively engaging with regional institutions and exploring programming in other LDCs and non-LDCs through a number of UNCDF global and regional initiatives. UNCDF's work in Asia and the Pacific focuses on enhancing good governance and service delivery at the local level, and access to a wide range of affordable financial services. UNCDF builds on its mandate and capacity to provide a mix of capital grants, credits and guarantees, and capacity-building services to important public and private sector actors. 
 
The Municipal Investments Finance Initiative (MIF) was introduced in the context of UNCDF Strategic Development Plan and as part of a new-generation of projects in accordance with the capital mandate of UNCDF. Formulation of effective MIF approach is focused on establishing of sustainable country level frameworks with effective funding mechanisms including investment funds that would influence flow of capital for sub national priority needs investments of municipalities ranging from medium size towns to urban cities. This is to be done through application of a range of feasible investment finance instruments including debt financing such as loans and bonds with provision of effective credit enhancements to facilitate access to unused domestic private capital but also to establish an effective entry point for mobilization of a number of existing and upcoming national and international funding sources made available for municipal investments.

From UNCDF perspective MIF can be perceived as a means of improving not only development effectiveness, but strengthening decentralization, domestic capital markets, local government capacity, and medium to longer term economic development. This effort goes beyond the delivery of grants by linking unused domestic private capital with local public sector development needs, thereby strengthening the domestic capital markets and regulatory framework, facilitating economic development, and enabling municipalities and urban cities to carry out their mandated functions without diverting the central government’s budgetary resources from primary strategic objectives such as social assistance, poverty reduction and the elimination of regional inequalities.

Duties and Responsibilities

Objectives of the Assignment:
 
The overall objective of this consultancy is to support the Asia-Pacific Regional Center of UNCDF in the assessment and formulation of a way forward for the development and application of a new project initiative covering UNCDF’s strategic sector of Municipal Investment Finance. This initiative is to be linked to the needs and opportunities already assessed and to be further defined in the Asia-Pacific region (e.g. taking advantage of work already undertaken in Bangladesh and in Cambodia) and an extension into countries in the Africa region requiring of UNCDF’s assistance.
 
The specific objective is to participate in field missions, conduct evaluations of needs and opportunities, home-based reviews of documents, preparation and presentation of detailed assessments and recommendations, and a comprehensive study, ultimately contributing to the development of a municipal investment finance project design document.
 
Scope of Work:
 
Working under the direct supervision of the UNCDF Regional Technical Advisor and in close collaboration with the government, development partners and UNCDF country teams the consultant will be responsible for:
  • Undertaking scoping missions to countries pertinent to the development of a Municipal Investment finance initiative project in the Asia – Pacific and African regions;
  • Developing a methodology and carrying out LDC country assessments focused on the  capacity and needs of key local and national stakeholders involved in the municipal financial management and investment finance process;
  • Developing assessment and country rating questionnaires, review of data, conducting research and collecting of pertinent knowledge materials most relevant to the issues of MIF in LDCs;
  • Identifying key domestic and international partners most relevant for participating and supporting successful implementation of MIF initiative;
  • Preparation of professional background papers summarizing and analyzing regional/country level assessments for sharing with partners and as a basis for informed MIF study documents leading to project formulation;
  • Identifying best regional and country level opportunities in relation to objectives and requirements of MIF study documents leading to project formulation including contribution of key technical sections;
  • Defining applicable next phase recommendations to transition from study completion and project formulation concept to eventual start-up and scope of implementation.
Deliverables:
The outputs produced under this consultancy at a minimum shall comprise the  following:
  • A descriptive and analytical mission report following each field assignment that provides full details of mission schedule, copies of substantive inputs produced and recommendations for follow-up actions;
  • Country/regional professional research background and assessment paper relative to municipal investment finance;
  • Comprehensive MIF study encompassing a proposed Scope of Activities outlined by the Regional Technical Adviser;
  • Substantive inputs into MIF project implementation plan;
  • Other reports and inputs as requested by UNCDF Regional Technical Advisor.

Competencies

Functional Competencies:
  • Good track record of engagement in international technical assistance projects focused on financial and institutional aspects of municipal investment finance and market assessment, development and monitoring;
  • A strong understanding of and working experience with public sector debt-financing programmes, together with professional familiarity with issues and implications related to establishing and functioning of capital market systems and mechanisms in developing countries involving long-term debt instruments such as municipal bonds;
  • Professional understanding of the functioning of capital investment funds, public sector/local government borrowing, roles of participants and stakeholders in municipal investments finance;
  • A proven ability to work in a collaborative manner with a diverse group of stakeholders in the design and development of proposals in the field of local governance and local development finance; not least securing strong ownership on the part of government together with the ‘buy in’ of potential investors and development partners.

Required Skills and Experience

Education:
  • Postgraduate degree in Economics, Public Financial Management, Public Accounts, Public Management Political / Social sciences or other related field.
Work Experience:
  • At least 7 years of professional experience working on issues related to public administration, decentralization and local governance reforms in developing countries, including at least 4 years of proven experience in local level public financial management and municipal bonds; 
  • Knowledge of financial flows as part of Municipal Development Funds and Financing Mechanisms, and Innovative Financing for Development;   
  • Theoretical and practical knowledge in methodologies on municipal investment financing for developing and least developing countries;  
  • Past experience working in developing and least developing countries; experience in South Asia/Bangladesh and Africa/Senegal will be an advantage.
Language:
  • Fluency in English is required.
Documents to be included when submitting the application form online:
Interested individual consultant must submit the following documents/information to demonstrate your qualifications:
Proposal (Reply online): Highlighted your working experience that make you qualified for this position with a brief description on how the scope of work will be dealt with;
Financial proposal (Reply Online): The financial proposal must indicate daily professional fee in USD; (please note that this original daily fee quoted will be part of the 30% finanical  scores).
Detailed Personal CV and/or UN P.11 Form (Upload Online).
 
Evaluation Criteria:
  • Technical Criteria weight: 70%;
  • Experience related to services: 20%;
  • Written proposal/test and/or interview result: 60%; and
  • Expertise & Availability: 20%.
Only candidates obtaining a minimum of 70% technical points would be considered for the Financial Evaluation.
Financial Criteria weight: 30%
The award of the contract will be made to the individual consultant whose offer has been evaluated and determined as:
  • Responsive/compliant/acceptable; and Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.