Achieving SDGs alone according to UNCTAD’s World Investment Report will require $3,9 trillion per year between 2015 and 2030 for health, education and infrastructure - leaving a $2.5 trillion annual shortfall relative to the current and forecast commitments of $1,4 trillion. Innovative financing mechanisms can close the gap by channelling the resources that are available at the market and by leveraging the private sector capital worth over $200 trillion to address the most pressing development issues. Governments’ potential to strategically mobilize various sources of financing for social purposes remains underutilized while many around the world are dealing with fiscal crises and rolling back many essential services. The alternative finance can help leverage public funding to mobilize various new sources of investment (private and venture capital, P2P lending) for public policy, social services and achieving a number of SDGs, while at the same time realigning interests of various partners and creating new investment opportunities.
This project builds on the successes and lessons learned of the Transformative Governance and Finance Facility [Phase I], and seeks to utilize new technologies and alternative finance mechanisms in support of the SDG agenda. It is a continuation of UNDP’s partnership with the Ministry of Finance of the Slovak Republic, during which, through the first phase of TGFF project, UNDP Istanbul Regional Hub (IRH) established the Alternative Finance Lab (AltFin Lab), in an effort to explore potential and feasibility of various alternative finance mechanisms both in the Europe and CIS (as well as other regions). Through the work on prototypes and expanding to new grounds to understand what has the potential to be catalytic in the Europe and Central Asia context, the Lab was set to support (in)formal citizen and other groups, government partners, business and others who are willing to experiment with some of the top emerging finance mechanisms. Through this project, the work of the Lab will be further promoted, moving from recognizing promising areas and pilot projects, in creating success stories and upscaling them to the regional level.
In this context, the IRH is looking for the Senior Expert on Alternative Finance mechanisms who will, under the guidance of the IRH innovation specialist, continue to work on and further develop AltFin Lab portfolio of projects, activities as well as work on developing new transformational partnerships and projects, which should all contribute to SDG agenda. The needed Senior Expert will help develop and implement a portfolio of experiments with concerned relevant country office (CO) teams, other UNDP business units, UN agencies and governments in order to better understand their implications and the potential for financing public policies and development.
Duties and Responsibilities
The Senior Expert will work under supervision of Knowledge and Innovation Specialist from IRH; and will guide the work of Junior Expert from AltFin Lab; closely working with other national experts from Cos on four (4) different distinct areas of alternative finance. Focus is on testing and prototyping:
Crowdfunding and Crowdinvesting
- Testing the demand for new business models regarding civic CF projects and combining them with crowdsourcing for low carbon initiatives. This includes developing long term connections with local authorities (municipalities), public utility companies etc. via introductory presentations with relevant stakeholders in designated municipalities, utilities etc.
- Crowdfunding Lending and Investment - exploring and implementing at least three projects focused on renewable energy, agriculture and SMEs;
- Blockchain (exploring new business models, supporting the application of the technology to COs, pitching to and bringing on board new investment projects (possible location: Jordan, Kazakhstan, Ukraine, Kosovo);
- Identifying business models and working on a possible pilot and partnerships around blockchain for energy sector and digital coins in the ECIS region (possible countries – Tajikistan, Moldova);
Innovative Financial Technologies
- Testing at least 3 new alternative finance business models and bringing on board more CO teams/their partners interested in carrying it out in their region;
- Exploring the possible business models around AI (Artificial Intelligence), AR (Augmented Reality), VR (Virtual Reality) for government services and development activities;
Resource mobilization and Capacity building
- Strengthening CO personnel by providing training on tools and methodologies of usage and implementation of alternative finance mechanisms (within their specific context). Consequentially, these personnel will be equipped to provide expert advice to other COs
- Support with establishing AltFinLab Hub in one of the ECIS countries, which should be able to provide similar type of services that the Lab is currently providing to COs i.e. to their clients;
- Working on identifying possible partnerships between us, International Financial Institutions (IFI) and partners in order to secure new funding streams;
- Investigating the possible De-Risking fund for impact investment in Green energy projects, together with IFIs and crowdfunding platforms;
- Resource mobilization (specific pitch to WB, Global Financing Facility, USAID grants program for a % of their funding to go through the Lab; focus on development agencies, designing a report on alt finance in a way that sets us up for more investments).
Within this context, the Senior Expert will be responsible for delivering tasks, including the development of pilot projects in the region (working with UNDP COs) to build hands on experience with applying alternative financing mechanisms:
- Supporting the development of pilot projects for crowdlending in the field of renewable energy;
- Finding potential new partners willing to cooperate with us and forming partnerships with them;
- Supporting the development of UNDP AltFinLab regional HUBs, in the field of alternative innovating financing models;
- Developing pilot projects on blockchain technology and innovative technologies (AI, AR, VR);
Specific deliverables will be agreed with the certifying officer at the beginning of each month and they will be reported on a monthly basis and will specifically focus on the following:
- Advisory support services to COs for designing and implementing crowdfunding investment (civic, reward, equity, debt crowdfunding) campaigns within and outside the scope of the UNDP Global Crowdfunding Academy (number of COs supported, number of campaigns in the design stage/implementation stage, amount of funding raised); and setting up national crowdfunding ecosystems;
- Setting up ecosystem for crowdfunding for climate change – working on feasibility and business models – developing the ecosystem with relevant partners (already built partnership with UNFCCC and platforms and other interested stakeholders)
- The quarterly reporting will focus on specific aspects of building a crowdfunding ecosystem such as legal requirements, type of business models to be pursued, partnership opportunities, pilot countries, etc.
- Number of Alternative Finance Fellowships and Internships provided to UNDP COs on applying alternative finance mechanisms
- Number of established UNDP AltFinLab regional HUBs, in the field of alternative innovating financing models
- Advisory support services in terms of application of blockchain and innovative technologies, setting up pilot projects and scaling them up – (including Artificial Intelligence, Augmented Reality, Virtual Reality) for development (number of COs supported, number of use cases researched and written up)
Timeframe: Up to 120 working days over estimated period of one year from the start of the assignment.
Specific timeline for delivery of services will be agreed with the certifying officer at the beginning of each month. Payments will be made in 12 instalments (once a month) upon submitted satisfactory timesheet and progress report against deliverables and upon its acceptance by the Supervisor/Certifying Officer (Knowledge and Innovation Specialist from IRH).
Travel costs related to the possible missions to Europe and CIS region and other locations, will be paid separately to the Consultant as per UNDP rules and regulations.
- Promotes the mission and values of the UN;
- Displays cultural, gender, religion, race, nationality and age sensitivity;
- Treats all people fairly without favouritism.
- Strong writing, presentation and reporting skills;
- Excellent communication and team-building skills.
Required Skills and Experience
- M. Sc. in Economics/Business/Engineering is a must, PhD degree in Economics/Business/Engineering would be an advantage.
- At least 5 years of working experience in the area of development in international organizations;
- At least 4 years practical experience in the field of crowdfunding, education on crowdfunding, or in alternative finance mechanisms; preferably for renewable energy including experience with building public awareness on climate change, sustainable energy and/or innovative finance;
- At least 2 years’ experience working with the Paris Agreement obligations, international climate change policies including NDCs of the countries in Europe and CIS region and practical experience in applying alternative finance mechanisms for renewable energy (with the preferably geographic focus in Europe and Central Asia);
- Experience with building public awareness on climate change, sustainable energy and innovative finance is a mandatory;
- Proven track record of successfully completed crowdfunding campaigns is a mandatory;
- At least two (2) years of working experience in the field of blockchain, with a working experience of developing blockchain based prototypes;
- Experience in Project Management, in organizing workshops and trainings and in writing implementation and other reports is a must;
- Excellent English language skills, both written and verbal are a requirement.
Evaluation of Applicants
Individual consultants will be evaluated based on a cumulative analysis taking into consideration the combination of the applicants’ qualifications and financial proposal.
The award of the contract should be made to the individual consultant whose offer has been evaluated and determined as:
a) responsive/compliant/acceptable, and
b) Having received the highest score out of a pre-determined set of weighted technical (P11 desk reviews, interviews and methodology evaluation) and financial criteria specific to the solicitation.
Only candidates who will obtain at least 70% of points will be invited for the next stage of the technical evaluation and financial proposal evaluation.
Technical Criteria - 70% of total evaluation – max. 35 points:
- Criteria A - At least 5 years of working experience in the area of development in international organizations – max points: 9;
- Criteria B – At least 4 years practical experience in the field of crowdfunding, education on crowdfunding, or in alternative finance mechanisms; preferably for renewable energy; and with blockchain technology- max points: 8;
- Criteria C – At least 2 years’ experience working with the Paris Agreement obligations, international climate change policies including NDCs of the countries in Europe and CIS region and practical experience in applying alternative finance mechanisms for renewable - max points: 7;
- Criteria D –PhD degree in Economics/Business/Engineering – max points: 3
- Criteria E – Interview Criteria - Practical experience in organizing workshops and trainings, excellent communication and team-building skills- max points: 5
- Criteria F - Methodology (evaluation of the brief methodology on how the candidate would approach and conduct the work (shall be uploaded by the applicant during online application) - max points: 3.
Financial Criteria - 30% of total evaluation – max. 15 points.
Qualified candidates are requested to apply online via this website. The application should contain:
- Cover letter explaining why you are the most suitable candidate for the advertised position and a brief methodology on how you will approach and conduct the work. Please paste the letter into the "Resume and Motivation" section of the electronic application.
- Filled P11 form including past experience in similar projects and contact details of referees (blank form can be downloaded fromhttp://www.eurasia.undp.org/content/dam/rbec/docs/P11_modified_for_SCs_and_ICs.doc); please upload the P11 instead of your CV.
- Financial Proposal* - specifying all-inclusive daily fee in USD for the tasks specified in this announcement. Mission related costs, if any, should not be included in the price offer, as they will be paid separately per UNDP rules and regulations.
- Incomplete applications will not be considered. Please make sure you have provided all requested materials
*Please note that the financial proposal is all-inclusive and shall take into account various expenses incurred by the consultant/contractor during the contract period (e.g. fee, health insurance, vaccination, personal security needs and any other relevant expenses related to the performance of services...).
Payments will be made only upon confirmation of UNDP on delivering on the contract obligations in a satisfactory manner.
Individual Consultants are responsible for ensuring they have vaccinations/inoculations when travelling to certain countries, as designated by the UN Medical Director. Consultants are also required to comply with the UN security directives set forth under dss.un.org
General Terms and conditions as well as other related documents can be found under: http://on.undp.org/t7fJs.
Qualified women and members of minorities are encouraged to apply.
Due to large number of applications we receive, we are able to inform only the successful candidates about the outcome or status of the selection process.
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.