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Municipal Investment Finance, National Consultant
|Advertised on behalf of :|
|Location :||Dakar, SENEGAL|
|Application Deadline :||15-Apr-19 (Midnight New York, USA)|
|Type of Contract :||Individual Contract|
|Post Level :||National Consultant|
|Languages Required :||English French|
|Starting Date :|
(date when the selected candidate is expected to start)
|Duration of Initial Contract :||1 year|
|Expected Duration of Assignment :||2 years|
UNCDF is the UN’s capital investment agency for the world’s 47 least developed countries (LDCs). With its capital mandate and instruments, UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development. UNCDF Local Development Finance Practice (LDFP) promotes and supports transformative investments through local governments and domestic banks in LDCs by piloting and scaling up innovative financing mechanisms and policies in the public and private sectors. Specifically, LDFP works with LDC governments to: mobilize additional capital for local development including from the domestic public and private sectors (for example, by promoting fiscal decentralization, increasing own revenue of local authorities and stimulating investment finance by domestic banks); design appropriate allocation mechanisms for this capital (intergovernmental fiscal transfers, public-private partnerships, structured project finance, municipal debt instruments); support local investments that provide a demonstration effect and lead to upscaling and mainstreaming of these mechanisms (including supporting UNCDF’s pipeline of investible projects); secure these investments within an accountable institutional environment that sustains and promotes local development (legal, political, administrative, social).
UNCDF’s approach to Local Development Finance acknowledges the challenges for LDCs in enhancing local basic services, promoting local economic development and increasing local resilience to shocks in an increasingly uncertain world. The approach recognizes that LDC economies have reached levels of domestic capital (public and private) significantly greater than a decade ago. Yet underinvestment at the local level remains a feature of LDCs that is holding back structural transformation. In addition to external sources of development finance, there is an additional need to find ways of channeling domestic resources for local development – including in rapidly growing urban areas.
Reporting directly to the Regional Advisor for the Local Development Finance Practice, the Senior Expert will support the Municipal Investment Finance (MIF) Program Manager in the development of the Municipal Investment Finance program in Senegal and West African Region, which has the objective of supporting towns, cities and urban areas in the region to secure the capital and recurrent financing required for their growing infrastructure and service requirements The MIF program operates in Senegal and other selected LDCs in the Western Africa region in coordination with the respective UNCDF country team under the direct supervision of the Regional Technical Advisor who is based in Dakar, Senegal.
The aim of the MIF Programme is to increase the ability of local governments and other sub-sovereign entities to address key urbanization challenges through access to sustainable sources of capital financing. The Programme will improve quality of life in LDC cities in Africa and Asia, especially for the poor. Specific objectives include (i) improving access to capital for investment in critical urban infrastructure and services in LDC cities targeted by the program, (ii) creating or strengthening financial markets and market intermediaries so that they can facilitate capital access for cities, and (iii) establishing policies, standards, and practices that improve the efficiency and effectiveness of the capital financing process in beneficiary countries.
The Senior Expert will provide technical assistance to local governments and local banks as partners of choice and builds on the platform and reputation of UNCDF's support to fiscal decentralization in LDCs over a 20-year period. This includes piloting and testing improved mechanisms, instruments and tools for: Fiscal transfers from central to local government institutions; Improvements in local taxation and fees; Debt instruments (loan borrowing, special purpose project vehicles and bonds) for Municipal Finance; and project / SME finance for infrastructure largely in the productive sectors. Furthermore, the expert will work with municipalities on the process of accessing capital.
Duties and Responsibilities
Provides technical support and policy advice in the area of municipal finance, local
public finance and local private finance — in particular in relation to infrastructure &
service provision, local economic development and the strengthening of municipal capacity in Senegal and the region;
Leveraging conflict in the interests of UNCDF & setting standards
Required Skills and Experience
Interested individuals must submit the following as proposals in order to demonstrate their qualifications: (NOTE: the system does not allow multiple uploads of document. Applicants must make sure to upload all documents in one PDF file).
All applications must contain the following information:
Incomplete applications will not be considered. Please make sure you have provided all requested materials.
Individual consultants will be evaluated based on the following methodology:
Only candidates obtaining a minimum of 70% or above on the scoring of the technical aspect of their proposal will be considered for financial evaluation.
The consultant may be requested to conduct specific missions to the field. If requested, UNCDF will arrange and cover the cost of the Travel in line with UNCDF’s rules and regulations.
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.