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Organization: GGGI - Global Green Growth Institute
Location: Jakarta
Grade: Consultancy , Consultant - Contractors Agreement
Occupational Groups:
Banking and Finance
Economics
Impact investing, Social venture capital
Public, Private Partnership
Closing Date: 2024-06-28
INDONESIA: BLENDED FINANCE CONSULTANT
INTRODUCTION TO GGGI
The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. To learn more please visit about GGGI web page.
Currently, GGGI supports the Government of Indonesia (GoI) under the joint GoI-GGGI Green Growth Program (GGP, “the Program”). The Program aims to demonstrate that green investments can become the norm both for investors and planners, ultimately improving the quality of economic development for more environmental sustainability and social inclusion. Through the Program, GGGI collaborates with the Ministry of Development Planning (BAPPENAS), the Coordinating Ministry of Economic Affairs, Ministry of Finance, Ministry of Energy and Mineral Resources, Ministry of Environment and Forestry, PT Sarana Multi Infrastruktur (“PT SMI”) and others.
GGGI and the Fiscal Policy Agency (FPA) implement the Green Climate Fund (GCF) readiness and preparatory support project (“the Readiness Project”) in Indonesia. The FPA is the National Designated Authority (NDA) of the GCF in Indonesia, i.e., the agency through which Indonesia and the GCF interact and communicate. In September 2022, the FPA started the 3-year Readiness Project “Enhancing Indonesia’s Access to International Climate Finance and Private Sector Investments for Climate Actions” (“Readiness III”) to support the NDA in enhancing national actors’ institutional capacities to build a pipeline of climate change projects and to increase country ownership. The NDA has selected GGGI as the Delivery Partner to implement this project.
Overall, the Readiness Project aims to mobilize international climate finance and private sector investment to close the financing gap across the priority sectors identified by the Government of Indonesia. It consists of a range of activities with the objective of achieving readiness outcomes, including 1) established capacity of direct access applicants and direct access entities (DAEs) to meet and maintain the GCF accreditation standards, 2) the capacity to develop a pipeline of projects, and 3) effectively implement GCF-funded activities.
OBJECTIVES OF THE ASSIGNMENT
The gap in financing Indonesia’s climate actions needs to be met through alternative funding sources, including from international climate funding as well as private sector investment. However, private sector tends to be less interested to engage in climate actions, due to lack of awareness about climate change as well as the assumption of putting government as the sole responsible party, especially for adaptation sector. Through the Readiness program, Fiscal Policy Agency as the NDA GCF in Indonesia has developed a Private Sector Engagement strategy for selected priority sectors (energy, Forest and Land Use/FOLU, water, and food) to encourage more private sector investment in climate actions. The strategy includes potential business models for each sector as well as a roadmap for the private actor to participate in climate project, including accessing relevant sources of international funding.
Blended finance is an effective approach that leverages development finance to mobilize private finance. By deploying development finance in a way that address investment barriers and improves the risk-return profile of investments, blended finance operates as a market-building instrument that provides a bridge from reliance on development financing towards commercial finance. While the blended finance approach has grown rapidly, its implementation still faces many challenges. This is also aligned with the key findings from previous GGGI’s study.
There are several entities in Indonesia starting to emit interest and develop such financing scheme, collaborative network among them has not yet been established. One of the identified needs for leveraging private sector investment in climate projects is to develop a blended finance strategy for climate investment in priority sectors. A fora specifically discussing blended finance for climate projects, designed for relevant stakeholders to exchange information and establish networks, is necessary for more participation of private sector investment in climate projects.
DELIVERABLES AND PAYMENT SCHEDULE
GGGI requires the services of a qualified expert to be a “Blended Finance Consultant” (hereafter referred to as “the Consultant”) for the National Designated Authority (NDA) of the Green Climate Fund (GCF) in Indonesia.
The consultant will be responsible for the following tasks and duties:
- Map and develop stakeholder participation matrix, which shows the type of stakeholders and their level of participation in the blended finance mechanism for climate projects. Stakeholders should include relevant Ministries/Agency (e.g. Ministry of Finance, Coordinating Ministry of Marine Affairs and Investment, Ministry of Public Works and Public Housing, Ministry of Investment, Financial Services Authority), private companies, business associations, chamber of commerce, as well as financial institutions;
- Provide recommendation on the most appropriate structure and format for the initiation of a blended finance fora;
- Develop the blended finance framework and the execution of the fora, which includes:
- The potential design framework of how a blended finance should looks like based on initial assessment. This should be the base for the fora discussion;
- The mechanism of the blended finance fora, such as the structure, format and topics to be discussed in the fora;
- Developing the Term of Reference for the fora, based on at least two main topics relevant to the utilization of blended finance mechanism in climate projects;
- Coordinate discussions with the identified key stakeholders to obtain agreement on the blended finance fora framework.
- Lead the discussions of at least two (depend on the agreement with MoF) blended finance fora in collaboration with Ministry of Finance and record lessons learned;
- Consolidate recommendations from the conducted fora, including roadmap to integrate the recommendations to the potential role of private sector entities in the priority sectors.
The Consultant will report to the GGGI Readiness Project Manager.
The consultant is responsible for delivering the following deliverables:
|
No |
Description |
Deliverable |
Indicative dates subject to contract |
Payment Schedule |
|
1 |
Deliverable 1 |
Stakeholder participation matrix, including list of relevant stakeholders and the level of participation of each stakeholder in the blended finance mechanism for climate change projects |
15 July 2024 |
20% |
|
2 |
Deliverable 2 |
Blended finance and fora framework, which includes the Term of Reference explaining the structure, format, and potential topics to be discussed in each forum |
30 September 2024 |
30% |
|
3 |
Deliverable 3 |
Event report for at least two blended finance fora conducted, including agenda, materials, highlights of discussions and list of participants disaggregated by gender |
15 November 2024 |
30% |
|
4 |
Deliverable 4 |
Draft brief of recommendations to facilitate blended finance and private sector investment, based on highlights of discussions in the fora |
10 January 2025 |
20% |
Notes:
- The Consultant is to provide his/her own equipment to produce all deliverables.
- The Consultant shall submit the report in electronic versions readable by a Microsoft Office application.
- All outputs must be in English.
- Final deliverable must be approved by GGGI. The Consultant shall consider the comments and necessary revisions proposed to provide a final version of the deliverable in a timely manner.
EXPERTISE INFORMATION
He or she must have the following qualifications:
- Master’s degree in finance, economics, public administration, international development, or relevant fields.
- At least 7 years of experience in climate finance, development finance, international finance, or related initiatives.
- Excellent understanding of Indonesia’s climate finance landscape and innovative financial instruments.
- An excellent track record on stakeholder engagement and facilitating multistakeholder discussion.
- Strong, established network in relevant stakeholders (e.g., Ministry of Finance, Coordinating Ministry of Maritime and Investment Affairs, Ministry of Public Works and Public Housing, Ministry of Investment, Financial Services Authority, financial institutions, and business associations) is highly desirable
- Have strong understanding on steps required to conduct assessment for different types of stakeholders in Indonesia.
- A good understanding of the national context for climate change is a must.
- Experience in managing and coordination with national counterparts dan partners.
- Ability to communicate clearly and effectively in a multi-stakeholder consultations and written reports in English and Bahasa Indonesia, previous examples might be requested.
- Demonstrated strong interpersonal and motivational skills and sensitivity to the local environment as well as the ability to work with minimal supervision.
ADMINISTRATIVE INFORMATION
In order to be considered for the position, the candidate must meet the minimum qualification listed below. Consideration and selection will be based on a panel evaluation of the evaluation criteria factor below. Please note that only shortlisted/finalist applicants will be interviewed or contacted. GGGI does not pay for any expenses associated with the interviews unless expenses are pre-authorized. Reference check will be conducted on those candidates selected for an interview. The applicant’s references must be able to provide substantive information about his/her past performance and abilities.
Interviews and a writing exercise may be requested. Applicants are required to prepare a brief narrative demonstrating how prior experience and/or education and training address selection criteria factors listed below:
- Professional Competency (10 points): Master’s degree (preferably a PhD) in finance, economics, public administration, international development, or relevant fields;
- Experience (40 points): Minimum 10 years of experience in in climate finance, international finance, or related initiatives; an excellent track record on stakeholder engagement and facilitating multistakeholder discussion, existing network in relevant stakeholders is highly desirable.
- Communication (10 points): Ability to communicate clearly and effectively in a multi-stakeholder consultations and written reports in English and Bahasa Indonesia, previous examples might be requested
- Technical Knowledge (40 points): Strong understanding of Indonesia’s climate finance landscape and innovative financial instruments. Candidate must have strong understanding on steps required to conduct assessment for different types of stakeholders in Indonesia. A good understanding of national context for climate change is a must.
Maximum Points Available: 100
At GGGI’s discretion, reference checks and interviews may be conducted as part of the evaluation process.
Applicants must also include in their application package as follows:
- A cover letter of no more than 3 pages that demonstrates how the candidate’s qualifications meet the work requirements;
- A curriculum vitae which, at a minimum, describes education, latest experience and career achievements;
- Names, current and accurate contract numbers (email and phone) of three professional references that have knowledge of the applicant’s abilities to perform the duties set forth in the solicitation.
All of the above information must be included in the application package in order for the package to be considered complete.
Interest candidates should send the above information directly in the link https://careers.gggi.org/vacancy/
All application submitted by GGGI website must be no later than June 28th, 2024 at 5:00 p.m. Korean Standard Time (KST). Application submitted after the deadline will not be considered Application. Cover Letter, and CV must be sent in English. A consortium, or a firm may not be engaged for the individual consultant assignment.
Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.
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