Antecedentes

The Government of Fiji is now in the process of finalizing the Sustainable Development Bond Framework. Under the ‘Sustainable Development Bond Framework’ the Fiji Government will issue more specialized bonds related to its sustainable development ambitions. Under this Framework, Fiji may issue 3 types of bonds:

• Green and Blue Bonds where an amount equal to the net proceeds will be exclusively used to (re)finance eligible expenditures falling within the Eligible Green and Blue categories
• Social Bonds where an amount equal to the net proceeds will be exclusively used to (re)finance eligible expenditures falling within the Eligible Social categories
• Sustainability Bonds where an amount equal to the net proceeds will be exclusively used to (re)finance eligible expenditures falling within both Eligible Green and Social categories.

Against this background, the Fijian Government is working with the Government of the United Kingdom, the United Nations Development Programme (UNDP) and the United Nations Capital Development Fund (UNCDF) to issue the first sovereign blue bond by summer of 2022. The UN is working hand in hand with the Ministry of Economy and relevant line Ministries to bring the Blue Bond to market.

A critical component of the Project is designing and incubating projects for financing by the Blue Bond proceeds, using a blended finance approach to use the Blue Bond proceeds as catalytic funding, and identifying potential blue bond buyers from the local market.

Against this background, UNCDF seeks the expertise of a Financial Sector Engagement Consultant who has a strong network with financial institutions (banks, pension funds, insurance companies, private and public investors etc.) in Fiji. These financial institutions are those who would be interested to be prospective buyers of the blue bond and/or financiers of underlying projects.

In executing this assignment, the consultant will work with the UNCDF and UNDP Blue Economy Financing Team, as well as international consultants who are advising the Government on getting projects in green shipping, sustainable fisheries, and marine protected areas to investment-readiness stage.

Deberes y responsabilidades

1. EXPECTED OUTPUTS AND DELIVERABLES

Activity 1: Bring one aquaculture project proposal to a close with Ministry of Fisheries and relevant project partners

• Provide inputs to project proposal drafted by the Ministry

• Identify and engage other stakeholders that will improve the commercial model of the project
• Collect necessary inputs from project stakeholders on the project design and written proposal
• Organise meetings/workshop with the Ministry to finalise and close project proposal
• Conduct field visits to hatchery and other value chain sites

Activity 2: Advise on the development of commercial models for other Blue Bond projects

• Provide inputs to feasibility studies for three sub-projects under the Blue Bond
• Review two other project proposals from line Ministries and other project proponents and assist them with improving commercial models
• Provide updates on project design process in Blue Bond Working Group meetings

Activity 3: Engagement with potential co-financiers and financial structuring of blue economy projects

• Organize meetings with leading financial institutions in Fiji and gauge interest in purchasing the Blue Bond and/or providing financing to blue economy projects
• Advise on financial structuring options with local financial institutions and investors

1. Time Frame: 20 Weeks

Tentative payment percentages are subject to verification at contract negotiations. All components of each item must be completed to qualify for a payment.

1. Duty station: Fiji

1. Institutional arrangements/reporting lines

The consultant will report to the UNDP Blue Bond Project Manager and UNCDF Regional Technical Specialist for Finance and Innovation. Payments shall be released upon satisfactory completion of the deliverables above and clearance from UNCDF.

Competencias

• Strategic thinking capability, with an entrepreneurial mind-set, as well as being adaptable and able to deal with large organizations.
• Active interest in investing in developing countries and understanding of emerging market environments, opportunities and barriers to investing.
• Strong knowledge of financial markets and financing for sustainable development, with ability to apply it to strategic and/or practical situations.
• Full familiarity with a range of debt and equity instruments.
• Experience with business planning and financial projections.
• Competency with financial modeling and analysis

Habilidades y experiencia requeridas

Experience and qualifications:

• Post graduate level qualification in administration, finance, marketing, economics, accounting or related fields
• A minimum of 10 years of relevant work experience investment banking and asset management experience.
• A minimum of 5 years of experience working with development banks, sovereign wealth funds, government, and private sector funds in developing markets.

Language requirement:

Proficiency in English (written and spoken) required.

Price Proposal and Schedule of Payments

Consultancy must send a financial proposal based on Lump Sum Amount. The total amount quoted shall be all-inclusive and include all costs components required to perform the deliverables identified in the TOR, including professional fee, travel costs, living allowance (if any work is to be done outside the IC´s duty station) and any other applicable cost to be incurred by the IC in completing the assignment. The contract price will fixed output-based price regardless of extension of the herein specified duration.

Tentative milestone payment percentages are subject to verification at contract negotiations. All components of each item must be completed to qualify for a milestone payment. Payments will be done upon completion of the deliverables/outputs and as per below percentages:

Cumulative analysis

The proposal will be evaluated using the cumulative analysis method with a split of 70% and 30% financial scoring. The proposal with the highest cumulative scoring will be awarded the contract. Applications will be evaluated technically, and points are attributed based on how well the proposal meets the requirements of the Terms of Reference.

Technical Criteria for Evaluation (Maximum 70 points)

• Criteria 1: Post graduate level qualification in administration, finance, marketing, economics, accounting or related fields – Max 15 points

• Criteria 2: A minimum of 10 years of relevant work experience investment banking and asset management experience – Max 35 points

• Criteria 3: A minimum of 5 years of experience working with development banks, sovereign wealth funds, government, and private sector funds in developing markets – Max 20 points

Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation.

Documentation required

Interested individual consultants must submit the following documents/information to demonstrate their qualifications. Please group them into one (1) single PDF document as the application only allows to upload maximum one document:

• Letter of Confirmation of Interest and Availability using the template provided in Annex II.

• Personal CV or P11, indicating all past experience from similar projects, as well as the contact details (email and telephone number) of the Candidate and at least three (3) professional references.

• Technical proposal, including a brief description of why the individual considers him/herself as the most suitable for the assignment.

• Financial proposal, as per template provided in Annex II. Note: National consultants must quote prices in United States Dollars (USD).

Incomplete and joint proposals may not be considered. Consultants with whom there is further interest will be contacted. The successful consultant shall opt to sign an Individual Contract or a Reimbursable Loan Agreement (RLA) through its company/employer with UNDP.

Annexes

• Annex I - Individual IC General Terms and Conditions
• Annex II – Offeror’s Letter to UNDP Confirming Interest and Availability for the Individual IC, including Financial Proposal Template

Proposal Submission

All applications must be clearly marked with the title of consultancy and submitted by 5:00pm, 15th March 2022, 5pm (Fiji Time) online via UN Jobs website https://jobs.undp.org/ or etenderbox.pacific@undp.org