[newdevjobsindo] Re-Posting Job Vacancy: Innovative Financing Specialist

Mei 31, 2022   Comment  

 

JOB POSTING FOR NATIONAL CONSULTANT

INNOVATIVE FINANCING SPECIALIST

 

FIELD SUPPORT SERVICES PROJECT (FSSP)

 

1.     Summary of the Project

 

Field Support Services Project (FSSP) Indonesia is a five-year project (October 2019 – October 2024) funded by Global Affairs Canada (GAC) and managed by Cowater International. FSSP provides administrative, financial, procurement, and logistical services, as well as support to the in-country development programming for the Government of Canada through the provision of technical specialists in gender equality, governance and human rights, and environment and climate action and assisting GAC in procuring and managing local development initiatives. These programs take place in Indonesia and the ASEAN regions.

 

2.     Background

 

The achievement of the Sustainable Development Goals (SDGs) will require new investment across areas such as social sectors, sustainable infrastructure, rural development, and adaptation to climate change to ensure that the central SDG promise – to leave no-one behind – is met. All sources of financing – public and private, domestic, and international – have an important role to play in financing the SDGs. Increasingly, the international community is seeking 'innovative' ways to finance them, and, in particular, develop financing schemes that combine the resources and technical expertise of both the public and private sectors. Recent examples include blended finance models. The OECD defines blended finance as the strategic use of development finance for the mobilization of additional finance towards sustainable development in developing countries.

Most fast-growing middle-income countries now realize that the private sector has capability to provide resources for economic and social development. Moreover, international organizations such as the World Bank and the Asian Development Bank emphasize that looking ahead Asian countries will have to have ongoing recourse to private markets to meet their long-term development objectives. One of the key mechanisms that can be used to mobilize private resources for development is blended finance. In blended finance funds are provided both by official suppliers of development funding and private investors, sometimes with the presence of non-profit institutions such as foundations and endowments. Funds are provided for specific projects and the risks and rewards of projects financed by blended finance are shared by all parties according to pre--agreed contracts.  The use of blended finance in the national planning process requires a new perspective on the role that private capital has traditionally played in mobilizing the funding needed to implement provide resources for priority public sector projects.

Indonesia has been described as having the "perfect" profile for using blended finance mechanisms: as a middle-income country, it has an emerging economy with a large sized market; it also has many resources available, both domestic public resources as well as domestic private finance (which has outpaced public finance). In 2018, Indonesia was among the top ten issuers of sovereign green bonds (Climate Bonds Initiative, 2018). According to the latest SDG Voluntary National Review (BAPPENAS, 2019), innovative financing is already being developed to finance SDGs in Indonesia. For example, through PINA (Non-Government Budget Investment Financing), PPP (Public Private Partnerships), capital market (i.e., Kehati Index), money market instruments (green bonds), Financial Institutions (Banks, MFIs, venture capital, etc.), debt swap mechanisms, impact investing mechanisms, crowd finance, and blended finance (Government, Private, and Philanthropy). Some examples of blended finance initiatives in Indonesia include:

 

1.   The Government of Indonesia through the Ministry of Finance and PT Sarana Multi Infrastruktur (SMI) seeks to achieve the SDGs through the establishment of an integrated platform called "SDG Indonesia One" which combines public and private funds through blended finance schemes to be channeled into infrastructure projects related to the achievement of SDGs. SDG Indonesia One is a platform that includes 4 (four) types of pillars that are tailored to the appetite of donors and investors, namely: Development Facilities, De-Risking Facilities, Financing Facilities, and Equity Fund. The platform aims to raise funding from investors, donors, and philanthropist to be channeled to projects in Indonesia that support the achievement of Sustainable Development Goals (SDGs).

2.   The Tri Hita Karana Forum acts as a platform to celebrate major SDG related commitments, announcements and milestones in the region to drive sustainable development. Key themes for the THK Forum include oceans, food and sustainable land use, women, sustainable infrastructure (including energy), innovation, resilient cities (including transport, water and connectivity), green finance and better policy to mobilise large scale capital for the SDGs. The Forum demonstrated Indonesia's leadership in the Global SDG Agenda and innovative financing solutions to achieve SDGs. It launched over 30 high-impact initiatives and was estimated to have mobilized close to $10 billion for priority SDGs sectors including green infrastructure, sustainable land use, oceans, ecotourism, health, women and innovation; and

3.   The Tropical Landscapes Finance Facility, launched in Jakarta in October 2016, brings long-term finance to projects and companies that stimulate green growth and improve rural livelihoods. Consisting of a loan fund and a grant fund, the facility help Indonesia promote economic development while contributing to hitting its climate targets under the Paris Agreement. The facility uses public funding to unlock private finance in renewable energy production, and sustainable landscape management that reduces deforestation and forest degradation and restores degraded lands.

 

Despite the creation of platforms and mechanisms, OECD's data (Convergence, 2018) show that Indonesia is not in the top 10 list for blended financing. BAPPENAS has expressed the need to consider what kind of policies, regulatory changes and positive support can incentivize private finance to contribute more to SDGs. Furthermore, there is also a need for at-scale demonstration projects and a sector-wise approach and tailoring blended finance strategies according to the needs of the sector (OECD, 2019)

 

In line with the experience of development institutions in other countries, BAPPENAS sees its role in blended finance as one of acting as a "catalyst." There will be Indonesian entities that are seeking finance that will interact with BAPPENAS and other public sector agencies as well as with domestic and international suppliers of capital. BAPPENAS role as a catalyst will be to create the enabling environment in which providers of capital and entities seeking capital interact productively.

Certain preconditions must be met for blended finance to function. Private investors only invest in "bankable" projects offering competitive risk-adjusted returns. BAPPENAS will need to understand how to structure deals so as to appeal to investors while creating a "pipeline" of bankable deals. Legal provisions for the necessary instruments through which providers of capital will invest (such as Investment funds and Collective Investment Vehicles) must be established. (See OECD 2019.)

3.   Objective

 

Global Affairs Canada requires the services of an Innovative Financing Specialist (The Consultant) to work with BAPPENAS in exploring different innovative financing instruments in Indonesia, lessons learned and best practices of different existing models implemented in Middle Income Countries. The objective of the consultancy is to produce a Report specifying how BAPPENAS can create an enabling environment in which providers of capital and entities seeking capital can interact productively in order to use "blended finance" in Indonesia on an expanded scale.

 

Using international practice and experience, the National Consultant will advise BAPPENAS on how develop a strategy to create institutional mechanisms and procedures to enable to use blended finance on a significant scale. The findings will be summarized in a Report for final presentation to BAPPENAS in December 2022.

 

The Consultant will report to Director of Bilateral Funding, Ministry of National Development Planning/National Development Planning Agency (BAPPENAS), Jakarta.

 

4.   Description of Services

 

The expected services of the Innovative Financing Specialist will include, but not be limited to:

• Work closely with:

• BAPPENAS
• International Consultant
• GAC and Cowater
• International Experts and Practitioners MDBs (IFC, ADB etc.)
• Non-governmental suppliers of funds

·         Develop strategy to create institutional mechanisms to enable BAPPENAS to act as a catalyst in using blended finance on a significant scale;

·         Develop capacity building plan necessary to operate blended finance program;

·         Incorporate findings into document for final presentation to BAPPENAS in December 2022;

·         Establish a timetable for intermediate reports and consultations;

·         Meet deadlines for the preparation of all other work before the final report; and

·         Perform other relevant tasks as assigned by GAC or BAPPENAS.

 

5.   Deliverables/Outputs

 

The Innovative Financing Specialist is expected to work in close cooperation with BAPPENAS and International Consultant on Innovative Finance to produce deliverables as follows:

1. Work Plan for the duration of the contract to be reviewed and approved by BAPPENAS.
2. Draft a scoping study report, with the format to be agreed in consultation with BAPPENAS. The scoping study report will be based on desk studies (study results, reports, gap analysis, needs assessment, stocktaking of data sets, lessons learned from BAPPENAS and other related projects) as well as consultations with key stakeholders such as, but not limited to, other donors, national and sub-national governments, civil society organizations, international and local NGOs and private investors.
3. Final Report.

 

6.   Description of the Consultant's Profile

 

GAC requires the services of a national expert with solid knowledge of blended finance, private public partnership (PPP), a good knowledge of Indonesia context and experience working with international development partners.

Competencies

 

• Capacity to identify and analyze data on development funding and able to grasp data pattern and implement it on writing the report;
• A drive for results, including a proven track record of high standards/accountability for work products, meeting deadlines, an ability to prioritize tasks within his/her work program and strategies for working collectively with others on the team to deliver products;
• Ability to deliver quality reports/analysis/assessments within a stipulated time frame;
• Good facilitation skills and ability to generate ideas from, and build consensus among, a wide variety of stakeholders; and

• Excellent English and Indonesian writing skills.

Required skills and experience

 

The Consultant is expected to possess skills and experience in the following areas:

• Familiarity with blended finance and/or similar techniques for providing private capital for projects in emerging markets, such as project finance and private public partnerships (PPPs);
• Knowledge of the institutional structure and operational techniques of BAPPENAS and other Indonesian institutions that are likely to be involved in constructing a blended finance infrastructure;
• Experience on conducting scoping study on finance related areas;
• Experience and understanding of policy, advocacy, evaluation, business, and finance;
• At least 3 years of relevant experience in writing and researching on public and or/private finance;
• Demonstrated experience in developing reports on desk review and gap analysis; and

●        Experience working with Government partners as well as other stakeholders (private sectors, development partners, and NGOs).

 

Experience considered as an asset:

• Experienced in the fields of business and economic research environment and an understanding of the issues and challenges in Indonesia;
• Experience having developed and/or facilitated complex partnerships, ideally including between public and private parties; strong relationship builder with excellent interpersonal skills is essential for this position;
• Establishment and operations of investment funds, including sovereign investment funds, and including legal, regulatory, institutional and governance aspects.

 

 

Educational background

• Minimum post-graduate degree from an accredited, recognized institution in a relevant discipline such as business administration, economics, finance, international development, or relevant fields. Additional graduate qualifications will be considered as assets.

 

7.   Working Arrangements

 

The Consultant will work from his/her home base with virtual/non virtual meetings/interviews with Ministry of National Development Planning/National Development Planning Agency (BAPPENAS), the FSS International Consultant, GAC colleagues and relevant partners. As necessary, in producing analysis/report/briefs, the Consultant will need to do his/her own literature review and perform triangulation by interviewing experts.

The Consultant will submit deliverables to BAPPENAS in Jakarta. Payment is conditional upon satisfactory delivery of the assignments. In the event that travel to other regions or cities is necessary, all necessary costs will be borne by GAC, through the Field Support Services Project (FSSP).

8.   Duration of the Contract

 

The total expected duration of the assignment is up to 110 days. All reports must be finalized and submitted within this period. The Consultant is expected to start on May 2022.

Payments will be processed monthly upon the presentation of a timesheet and invoice detailing the level of efforts for each deliverable.

How to apply:   Interested individual consultants must include the following documents when submitting the applications to admin@fssproject.com latest by 11 June 2022:   CV 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. 2.    Brief statement as to why the individual considers him/herself as the most suitable for the assignment. 3.    Financial Proposal shall be submitted in the following format: -     The financial proposal should specify an all-inclusive daily rate for up to 110 working days; -     The financial proposal must be all-inclusive and take into account various expenses that will be incurred during the contract, including: the daily professional fee and when applicable any other relevant expenses related to the performance of services under the contract, excluding travel expenses.   Cowater International is an equal opportunity employer, basing employment on merit and qualifications as they relate to professional experience and position expectations. Cowater does not discriminate against any employee or applicant on the basis of race, religion, sex, gender identity, disability, age, or any other basis protected by law.   We thank all applicants, however only those shortlisted will be contacted   EVALUATION OF APPLICATION   The award of the contract shall 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 the weighted criteria (70% technical score (comprising of 15% technical qualifications desk review, 30% written test, and 25% interview) and 30% financial score.   The proposals that achieve a minimum of 70% for the technical qualifications desk review shall be further considered for an interview and written test. The financial score shall be      computed as a ratio of the proposal being evaluated and the lowest priced proposal received for the assignment.   Technical Qualifications Desk Review The evaluation of the technical criteria will be as follows:   St No Criteria Points 1 Academic qualifications of the Consultant. 10 points 2 Familiarity with blended finance and/or similar techniques for providing private capital for projects in emerging markets, such as project finance and private public partnerships (PPPs). 30 points 3 Knowledge of the institutional structure and operational techniques of BAPPENAS and other Indonesian institutions involved in constructing a blended finance infrastructure. 20 points 4 Experienced in the fields of business and economic research environment and an understanding of the issues and challenges in Indonesia. 20 points 5 Experience having developed and/or facilitated complex partnerships, ideally including between public and private parties. 20 points   Total points 100 points     ABOUT US   With more than 34 years' experience, Cowater International is Canada's global leader in management consulting services specializing in international development and has managed the implementation of over 800 projects in more than 80 countries around the globe. We work with governments, partner organizations, communities and civil society to design and    implement sustainable solutions that generate lasting social, financial and environmental  impacts. Our adaptive approach to management has led to our award-winning work and recognition as one of Canada's Best Managed Companies in 2017 and 2018. Headquartered in Ottawa, Canada, Cowater International also has corporate offices in Montreal, Quebec, Paris, France, Pretoria, South Africa, and London, United Kingdom, Nairobi, Kenya in addition to project offices in a wide variety of other locations across Sub-Saharan Africa and Asia.   We thank you for your interest in building a better tomorrow with Cowater International.