UNDP Jobs - 105985- IC/017/22 - International Consultant for preparing

IC/017/22 - International Consultant for preparing a feasibility study on establishing and managing a climate and gender focused investment fund in Uzbekistan

Location :

Homebased with one possible mission to Tashkent

Type of Contract :

Individual Contract

Starting Date :

02-May-2022

Application Deadline :

25-Apr-22 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

50 w/d

Languages Required :

English

Expected Duration of Assignment :

May to Oct, 2022

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Background

Uzbekistan is highly exposed to climatic risks with average temperatures in the country expected to rise at a faster pace than the world average causing water shortages, reduced crop yields, and adverse impact on livelihood of people. Development of private sector and entrepreneurship in climate resilient sectors will play a key role in country’s climate adaptation efforts. Accounting for half of country’s population, women are currently underrepresented in the private sector, have higher chance of being unemployed, and hence are among the vulnerable part of the society which needs support in combating the impact of the climate change.

UNDP stands ready to assist the Government of Uzbekistan in building financial resilience of the private sector, particularly among women entrepreneurs, to the climate impact by improving access to public, private, and development finances.

In this regard, UNDP is planning to hire an International Consultant (thereafter Consultant) to perform a feasibility study on establishing a climate and gender focused investment fund which will help empower women in Uzbekistan by providing financing to businesses owned or run by women in select business areas which are considered to have a significant climate change mitigation or adaptation impact. The expected impact of the Fund’s activities will be more resilient women and the society to climate changes which will be reflected in increased efficiency of resource usage, reduced damage of natural disasters on household income, as well as increased participation of women in the private sector and employment. The Fund will be state owned and managed but will aim to raise additional financing from international development and private institutions.

The feasibility study will be jointly managed by UNDP’s two projects launched in 2020, namely “Aid for Trade in Uzbekistan (AFT)” and “Financing for Sustainable Development in Uzbekistan (FfD)”. The main objective of AFT is to support the inclusive growth in Uzbekistan through the promotion of trade and enhancement of competitiveness, to support the country’s efforts to reduce poverty and improve peoples’ lives. FfD aims at mobilizing public and private resources needed to finance the development and provide on-demand policy research and capacity building to help maximize the impact of policies/reforms on economic, environmental, and social dimensions of the 2030 Agenda.

The broad purpose of the feasibility study is to get solid evidence and to assess the feasibility to setup and launch an impact investment fund that will source and provide financing to projects meeting climate and gender criteria and to do so mobilizes public, private, and development financing.

For that purpose, we have defined the following sub-objectives:

To better define the target investees or borrowers, which should include businesses owned (co-owned) or managed (co-managed with at least half in senior management) by women and operating in areas which contribute to climate change mitigation or adaptation goals.
To identify the most suitable geographic areas and target groups for piloting, which will set the basis for a national roll out.
To identify appropriate types (debt, equity or other), pricing, tenor, and structure of potential financing solutions which will better suit the needs of target investees or borrowers.
To define clearly exit strategies, risk-return requirements, as well as key business, financial, and legal risks expected to be faced by the fund
To define KPIs which will be applied to measure the expected climate and gender impact from potential investment projects
To provide insight into the fund’s capital structure and methods of engaging local partners (national government, state managed funds, etc.), development institutions, and private investors.
To analyze the current legal and regulatory framework for the fund’s operations under in terms of efficiency, cost, or other parameters.
To define how gender equality is to be incorporated into the vehicle’s design and operations.

Duties and Responsibilities

Consultant will work under the general guidance of both Projects’ Managers and direct supervision of the Task Manager on Innovative Financing Instruments.

The main objective of Consultant’s work is to carry out a feasibility study on establishing and managing a climate and gender focused investment fund based on the blended finance mechanism in Uzbekistan. In doing so, Consultant will lead and coordinate the work of local experts and ensure the qualitative and timely delivery of the following tasks:

Stage I. Market analysis and Legal/Regulatory assessment

To assess the market conditions in Uzbekistan including the analysis of the demand, competition, and market for the fund’s planned activities in Uzbekistan. Such analysis will be performed based on the data gathered from interviews, market and statistical reports, prior research papers, and others.
To conduct interviews with respondents or focus groups representing each type of stakeholders (entrepreneurs, bankers, investors, partners, etc.).
To ensure that market assessment will include and address the following key points:
1. Estimating the market size and key segments
2. Identifying direct and indirect competition and market pricing
3. Defining the profile of a target customer
To analyze the existing legislation in Uzbekistan for an impact investment fund based on regulatory, tax, and investment aspects.
To investigate, assess and elaborate the legal procedures to be applied for investing, divesting, collecting, and distributing dividends or interest income. Additionally, the assessment should address conflict resolution in case of fraud, misuse of funds, and bankruptcies.

Stage II. Designing the product and operational model for the fund

To develop the fund’s financial and business model which will cover such aspects as product offer, pricing, cost of funds, and client acquisition costs.
To define the acceptable levels of credit and business risks when financing projects, as well as exit strategies.
To prepare the cashflow flow projection which will cover growth, liquidity and cash needs, as well as sensitivity analysis
To define the list of parameters for Impact Measurement and expected contribution of the fund’s activities towards climate change adaptation and mitigation, as well as gender equality.
To engage with potential investors and relevant stakeholders.

Stage III. Presentation and validation of the feasibility study

To consolidate all relevant parts of the feasibility study developed under the Stages I and II
To present and discuss the findings the feasibility study with key stakeholders including UNDP Uzbekistan, Ministry of Finance, independent experts, and others as well as revise them accordingly based on the feedback and recommendations received
To perform other tasks relevant to the present assignment as requested by UNDP Inclusive Growth Cluster Leader and Project Managers.

Competencies

Strong data collection, communication, analytical, research, and writing skills
Client-orientation and excellent interpersonal and cross-cultural communication skills
Ability to use information and communication technology as a tool and resource

Required Skills and Experience

University degree (Masters or above) in economics, finance, business administration, or other relevant disciplines is required;
At least 5 years of proven senior level experience in impact investing, investment banking, investment analysis, project finance, fund management, or business planning is required;
Excellent understanding of green standards and principles is required;
Good understanding of gender aspects and gender mainstreaming into the development and business processes is required;
Proven experience in preparation of feasibility studies is required;
Previous experience with a development partner or government will be an asset;
Fluency in written and spoken English is required;
Working knowledge of Uzbek or Russian would be an asset.

Application Process:

Interested candidates need to apply online at www.jobs.undp.org and upload requested documents in Part 4 of Procurement Notice no later than April-25, 2022 (New York time). Please combine all your documents into one (1) single PDF document as the system only allows you to upload a maximum one document. Your on-line application submission will be acknowledged to your email address provided in application. If you do not receive an email acknowledgement within 24 hours of submission, your application may not have been received. In such cases, please resubmit the application, if necessary. Link to application at the UNDP Job Site - https://jobs.undp.org/cj_view_job.cfm?cur_job_id=105985 (cut and paste into browser address bar if the link does not work).

You can review detailed Procurement Notice, Terms of Reference and download templates from the UNDP Procurement Notices Site following the link: https://procurement-notices.undp.org/view_notice.cfm?notice_id=90024 (cut and paste into browser address bar if the link does not work).

Applications submitted via email, incomplete applications or received after the closing date (April-25, 2022) may not be given consideration.

For more detailed information about UNDP Uzbekistan please visit our website at www.uz.undp.org UNDP is an equal opportunity employer. Qualified female candidates, people with disabilities, and minorities are highly encouraged to apply. UNDP Balance in Manage Policy promotes achievement of gender balance among its staff at all levels. Requests for clarification must be sent in writing to pu.uz@undp.org, ensuring that the reference number above is included in the subject line. UNDP shall endeavor to provide such responses to clarifications in an expeditious manner, but any delay in such response shall not cause an obligation on the part of UNDP to extend the submission date of the Proposals, unless UNDP deems that such an extension is justified and necessary.