African Development Bank Group (AfDB) - Established in 1964, the African Development Bank is the premier pan-African development institution, promoting economic growth and social progress across the continent. There are 80 member states, including 54 in Africa (Regional Member Countries). The Bank’s development agenda is delivering the financial and technical support for transformative projects that will significantly reduce poverty through inclusive and sustainable economic growth.
We are recruiting to fill the position below:
Job Title: Principal Climate Finance Officer
Position N°: 50083691
The Hiring Department
- The Vice Presidency for ‘Power, Energy, Climate and Green Growth’ is a Sector Complex focusing on the Bank’s Ten Years Strategy, High 5s priority of “Light up and Power Africa”.
- The complex’s objectives are (i) to develop policy and strategy; (ii) to provide deep sector technical expertise to the Regions by gathering pool of experienced individuals who can be consulted for their expertise on complicated transactions; (iii) to develop new financing instruments; (iv) to act as spokesperson to represent the Bank with external stakeholders on all aspects of “Light Up and Power Africa”. The Complex will focus on areas of Power systems, policy and regulation, renewable energy; and, Climate and Green Growth.
The Climate Change and Green Growth Department has broad objectives of:
The Hiring Division
- Mainstreaming climate change and green growth into Bank’s operations;
- Monitoring and reporting on the implementation of the Bank’s climate change interventions through the Bank’s Climate Change Action Plan and the Bank’s Green Growth Framework;
- Managing access to the growing number of sources of Green and Climate Finance for all Operational Vice Presidencies within the Bank;
- Assisting African countries to develop and implement their NDCs as well as to increase their access to global climate finance;
- Raising awareness of low carbon and climate resilient development opportunities and climate change related risks through the development of the African Financial Alliance on Climate Change (AFAC); and
- Leading all efforts within the Bank focused on minimizing and reversing the effects of Climate Change on the continent.
- The Department consists of two divisions, Climate and Green Growth Division, and Climate and Environment Finance Division.
- The Climate and Environment Finance Division is responsible for ensuring the Bank’s and RMCs’ enhanced access to climate and environmental finance. Specifically, the Division manages the growing pool of climate resources available within and outside the Bank, and develops innovative ways and tools to increase Bank’s access to climate and environmental finance.
- Alongside the existing funds (GEF, GEF, CIF, AF and ACCF), current initiatives include the development of green banks, national climate change funds, thematic funds, bilateral funds and green bonds. Tools deployed by the division include blended finance, guarantees, debt and equity instruments and the newly developed Adaptation Benefits Mechanism.
- The Division works with other MDBs to elaborate the concept of Paris Alignment and support the harmonized reporting of climate finance, participating in international dialogues and providing thought leadership around the challenges and future of climate finance and associated mechanisms under international conventions such as the UNFCCC, the UNCCD, UNCOB, Montreal and Stockholm Protocols etc.
- The Division also provides support for climate related disaster relief on the Continent. The Division’s ultimate objective is to significantly increase the amount of climate and environmental finance that flows to African countries.
Duties and responsibilities
- The purpose of this position is to increase access to climate and environmental finance to enable the Bank to bring significantly more climate and environment finance to the Continent.
- The Bank has set a target of mobilizing USD 25 Bn of climate finance between 2020 and 2025 and this position will play a key role in expanding the continent’s access to new and additional funding by, inter alia, developing and managing new sources of funding including bilateral trust funds, thematic funds, and climate finance mobilized under Article 6 of the Paris Agreement.
- The incumbent will be a senior member of the climate finance team, supporting the various climate funds for which the Bank is an implementing entity and advancing the Bank’s climate finance through the development of new funding instruments.
- The position is technology neutral and serves all of the Operational Vice Presidencies in order to ensure that climate and environmental finance is made available and successfully accessed by all of the Operational Vice-Presidencies. The incumbent will also contribute to achieve the objectives of the Bank’s Climate Change Action Plan (CCAP) and the drafting of post 2020 climate action plans.
Under the overall supervision and general guidance of the Division Manager – Climate and Environment Finance, the Climate Finance Officer will perform the following:
- Develop and manage access to new sources of climate finance including new thematic and bilateral funds, working with the Bank’s existing ecosystem to mobilize funds, draft (trust) fund agreements, develop pipelines and apply innovative solutions to ensure successful access to mitigation, adaptation and environmental finance;
- Support existing staff and consultants in managing and increasing access to existing external and internal climate change funds such as the Green Climate Fund, Global Environment Facility, Climate Investment Funds, Adaptation Fund and the Africa Climate Change Fund by assisting in the development of projects and project pipelines and helping staff to meet operational, accreditation and reporting requirements and follow appropriate modalities and procedures;
- Create opportunities to co-finance projects and leverage new and additional funding sources to achieve the Bank’s climate finance targets by liaising with other Divisions within the Bank and, inter alia, Donors, Philanthropies, Private Sector partners and Development Partners;
- Work in close coordination with existing climate finance structures under the UNFCCC, the MDBs and other relevant institutions, to enhance Africa’s access to climate and environmental finance;
- Provide technical support on climate finance in contribution to the Bank’s objectives, including the provision of support RMCs to help them achieve their climate finance targets under the Paris Agreement, and particularly their Nationally Determined Contributions, the NDC Hub and AFAC;
- Provide advisory and investment services to all Bank’s sector and regional operations on issues related to accessing climate and environment resources including by building strong links and communicating regularly with Officers and Task Managers within the Bank.
Including desirable skills, knowledge and experience:
Application Closing Date
- A Master’s Degree or equivalent post graduate qualification in International Development Studies, Climate Change, Climate Finance, Environmental Management, Finance, Economics or a related field;
- A minimum of six (6) years’ experience in climate and environmental finance; raising funds, drafting and managing trust fund agreements; multilateral development bank procedures; and a combination of project development and management experience including in the private sector;
- Direct experience in infrastructure and blended finance, equity, loan and grant instruments, public private partnerships and other relevant financing mechanisms, preferably in both developed and developing countries;
- Knowledge and experience of multilateral climate governance frameworks and the global climate finance architecture;
- Awareness of sustainable development finance issues, international climate change policy and climate change adaptation and mitigation challenges and practices relating to Africa;
- Knowledge and experience in policy dialogue and cross-institutional collaboration at the highest level, including with representatives of government and non-government partners;
- Ability to communicate orally and in writing effectively in English or French, with a working knowledge of the other language; and
- Competence in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint).
2nd June, 2019.
How to Apply
Interested and qualified candidates should:
Click here to apply online