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The UN Capital Development Fund makes public and private finance work for the poor in the world’s 46 least developed countries (LDCs). 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’s financing models work through three channels: (1) inclusive digital economies, which connects individuals, households, and small businesses with financial eco-systems that catalyze participation in the local economy, and provide tools to climb out of poverty and manage financial lives; (2) local development finance, which drives structural transformation of localities through policy and regulatory reform, fiscal decentralization, innovative municipal finance, and project finance to unlock capital flows to the local level, combined local economic expansion and sustainable development; and (3) investment finance, which provides catalytic financial structuring, de-risking, and capital deployment to drive SDG impact and domestic resource mobilization.
UNCDF’s Local Development Finance Practice (LD) aims to be center of excellence and innovative fund for local government finance and local economic development finance in the world’s 46 LDCs. LD promotes and supports transformative investments through local governments and domestic financial institutions (banks, pension funds) in LDCs by piloting and scaling up innovative financing mechanisms and policies in the public and private sectors. UNCDF’s work in Local Development Finance is best understood as an appreciation that the local dimension to development is essential for least developed countries (and least developed regions in all developing countries) to transform their economies and societies into an inclusive, diverse and sustainable system for human realization and planetary health. Local development is clearly defined not just as a local initiative, because everything happens somewhere, but as an initiative that draws from local assets to add value that is inclusively shared locally: infrastructure, services, value chains and environmental value – in other words an initiative with transformative impact.
The Local Finance Initiative (LFI) Programme is designed to unlock the flow of capital to invest small and medium-sized infrastructure projects that are required to accelerate local economic development and private sector development. It is a UNCDF front office capacity that help to deliver local economic development in collaboration with national institutions, local authorities and SMEs in developing countries. Furthermore, LFI through the UNCDF’s International Municipal Investment Fund Technical Assistance Facility (IMIF-TAF) help municipalities to prepare projects to be investment ready and support to ensure that they meet the requirements for accessing financial markets.
The UNCDF is seeking to hire an experienced Investment Officer with expertise in developing and financing municipal investment projects and the formulation of public private partnership investment frameworks. The Investment officer will be based in Tanzania and work under the direct supervision of the Global LFI Manager based in Dar es Salaam, Tanzania. There is a secondary coordination reporting line to the Municipal Investment Finance (MIF) Manager based in New York.
Duties and Responsibilities
Summary of Key Duties and Responsibilities:
Organization and facilitation of project development and financing activities of the IMIF-TAF investment pipeline – 40%
Organization and facilitation of key LFI and Tanzania country programme activities related to commercially viable investments, project development, transaction structuring and financing – 40%
Knowledge management, capacity development and support to develop and disseminate knowledge tools for IMIFTAF and Global LFI work – 20%
Organization and facilitation of project development and financing activities of the IMIF-TAF investment pipeline (40%)
Manage a portfolio and provide specialized project development and due diligence support that will lead to the financial closure of municipal investment projects. The activities will include but not limited to the following: credit analysis (including financial model), legal review, technical appraisal, procurement, environmental and social integrity due diligence; governance and political.
Prepare project financing documentation to present to investment committees, potential lenders and investors having clear, transparent and relevant information that is in accordance with international standards.
Interact with local stakeholders (such as central and local government officials, private sector banks, equity investors, project sponsors, development partners, etc.) during investment identification, project development life cycle and during external financing stages.
Integrate and work efficiently and effectively with a team of international consultants supporting IMIF project pipeline development.
Provide reports in the format agreed upon and other adhoc and periodic reporting.
Timely planning, budgeting and reporting in accordance with the guidelines of the Implementing Partner, UNCDF and Global LFI Secretariat.
Required Skills and Experience
Organization and facilitation of key Global LFI and country Programme activities related to commercially viable investments, project development, transaction structuring and financing (40%)
Preform Peer Review of the investments managed by the network of Global LFI investment officers including the country Programme pipeline.
Supervise the work of associate investment officers and consultants.
Provide targeted technical support to municipal project sponsors to prepare their projects to be investment ready for. This includes review of technical feasibility studies, collection of relevant data to enhance business plans and confirm project bankability, technical due diligence market assessment, and advisory services.
Provide support to local government and other public sector partners in the PPP steps of procurement, tendering, assessment, approval, concession agreement, contract management and performance management. Develop investment projects using single purpose investment vehicles (SPV)‘s.
Provide support to the public partners in the areas of legal, policy, regulatory, risk management etc. and other areas of the enabling environment.
Facilitate the required technical studies under guidance of the Global LFI Secretariat by engaging the project sponsors, consultants, local authorities and communities as appropriate, including the development of TORs that reflect project finance requirements and support of the procurement processes.
Prepare and facilitate technical missions for investment projects validation and pipeline development.
Liaise closely with UNCDF local development finance investment committee and impact teams responsible for measurement of transformative impact of investment projects, including in climate change, food security, women’s economic empowerment and local economic development. Exchange data and information to ensure that selected projects meet the criteria for transformational impact.
Capacity development of key stakeholders of the Programme in the areas of commercially viable investments (20%)
Provide support and awareness training to key stakeholders including the local governments, capital markets, private sector and relevant ministries, ensuring Programme knowledge generation and dissemination, including support to the development of LFI tools and toolkits, case studies, briefs, research documents, and client impact evaluations.
Support the development of training materials and workshops related to the work of Global LFI .
Provide specialist input in the development and application of municipal bonds; SPVs; PPP processes and tools to facilitate knowledge transfer, training, and development of capacities of local stakeholders in the public and private sectors.