Sustainable Finance BDE 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. 

• Project: GGPI12-E1-13

• Duty Station: Quito, Ecuador

• Contract Duration: (17) February 2025 to (16) May 2025

• Estimated Work Days:  60 days

• Consultant Level: Level 2

• Budget: $ 4,000

• Deliverable-based or daily rate: Deliverable-based

The Global Green Growth Institute (GGGI) is seeking a Sustainable Finance Consultant to support Banco de Desarrollo Ecuador (BDE) in creating its first Thematic Bond/Loan Framework. Working under the direct supervision of GGGI staff, the Consultant will ensure the framework aligns with recognized international standards, such as ICMA’s Principles and aid in the Second Party Opinion (SPO) review process. Additionally, through regular coordination and guidance from GGGI’s Project Manager, the Consultant will help equip BDE with the operational tools necessary to identify the most suitable instrument to advance BDE’s mission.

Project background

The Global Green Growth Institute (GGGI) is an intergovernmental organization founded to support and promote a model of economic growth known as green growth, which targets key aspects of economic performance such as poverty reduction, job creation, social inclusion, and environmental sustainability. GGGI works with members around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. The organization partners with countries, multilateral institutions, government bodies, and the private sector to help build strong economies that are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI supports stakeholders through complementary and integrated workstreams that deliver comprehensive products designed to assist in developing, financing, and mainstreaming green growth in national economic development plans.

GGGI has a diverse portfolio of programs in developing countries around the world. These in-country programs, together with global products and services, focus on delivering results through an integrated approach of evidence-based green growth planning and implementation aligned to countries’ development priorities.

In 2023, with financial support from the Luxembourg government, GGGI established the Global Trust Fund (GTF), a four-year programme to accelerate the adoption of sustainable financial instruments, including thematic bonds and debt-for-nature swaps, in developing countries. This program aims to improve sustainable finance in emerging economies by enhancing policy frameworks, strengthening national green finance ecosystems, and building the capacity of market participants. It facilitates the issuance of thematic bonds by providing key policy support, technical assistance, and guidance to beneficiaries from developing countries.

The GTF strengthens the national green finance ecosystems in more than 10 developing countries in Asia, Africa, Latin America and the Caribbean through initiatives prioritized by the GTF's Board.

The Trust Fund provides pre- and post-issuance and credit enhancement support to potential issuers, which together will raise at least USD 2 billion towards nationally determined contributions (NDC) targets. Direct capital mobilization through the Trust Fund is expected to help avoid 130 million tC02 emissions, improve the resilience of 2 million beneficiaries to climate change, and create 400,000 green jobs.

The achievement of Ecuador’s NDC targets requires a substantial increase in the volume of public and private, national and international climate finance invested in the country. As a result, GGGI through its GTF has embarked on an ambitious effort to increase the mobilization of international climate finance and implementation of innovative sustainable finance instruments to support a climate resilient and low-carbon development of the Ecuadorian economy.

The main objective of this assignment will focus on providing remote operational support in the design of a Green Bond Framework and the SPO review for BDE that adheres to well-established international standards. This effort will involve defining clear eligibility criteria, outlining robust governance and oversight structures, and establishing transparent reporting protocols to ensure the credibility of BDE’s green bond issuances.

Deliverable 1: Work Plan

Under the guidance of GGGI staff, the Consultant will develop a clear and actionable work plan outlining the tasks, timelines, and resources required to support BDE in building its Green Bond Framework. This plan will detail internal review milestones, and coordination mechanisms, ensuring efficient collaboration with GGGI staff and relevant external parties.

Deliverable 2: Operational Support for Framework Construction

The Consultant will conduct a focused review of BDE’s project pipeline, portfolio data, and relevant market analyses to pinpoint potential sectors that meet green eligibility criteria. This process will involve collecting and synthesizing inputs from GGGI staff, as well as relevant internal and external sources. The outcome will be a set of recommended use-of-proceeds categories that align with international standards, laying the groundwork for the framework’s substantive content.

Please note that payments will be disbursed based on the successful completion (reviewed and approved by the project manager GGGI, an approval is granted once the corrections suggested in the review process are implemented) of the deliverables described above, according to the following table:

• The consultant will make the best use of both primary and secondary sources of information to develop activities defined under the contract objective. 

• All deliverables and each of its related activities must be approved by the GGGI PM to be marked as completed.

• This consultancy fee is a lump sum cost.

• This is a part-time hybrid consultancy: (95%) remote; however, the consultant must be based in Quito, Ecuador to attend occasional in person meetings (5%) that may be notified with less than 24 hours in advance. 

• Bachelor’s Degree or equivalent combination of educational and professional

• Experience in Sustainable Finance

• At least 4 years of relevant work experience in thematic bond framework development, financial risk analysis, or providing operational support in executing sustainable finance instruments.

• Prior experience in local or international capital markets is highly valued.

• Proficiency in English is needed.

• ICMA’s thematic bond principles.

• Financial proficiency

• The consultant provides assistance and support execute intricate multi‐step processes with difficult issues related to context and/or scope.

• Ensures consistent quality across a range of deliverables encompassing multiple processes.

• Identifies issues and other operational factors which impact consistent delivery of transactions

• Advises on possible remedial approaches to sustain and advance quality.

• Deliverables reflect consistent quality which sustains the value of products/services and GGGI’s standards of quality and service.

• Request:  GGGI Aplication form, CV and cover letter  

• Selection method/process: competitive 

• Timeline of selection: 14 days   

Date to close is Korean Standard Time (KST). Applications 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.