Fiscal and Climate Finance Consultant to the Ministry of Finance and Economic Affairs of Barbados, Barbados At IDB – Inter-American Development Bank


Closing date: Friday, 16 June 2023

Post of Duty: Barbados

The IDB Group is a community of diverse, versatile, and passionate people who come together on a journey to improve lives in Latin America and the Caribbean. Our people find purpose and do what they love in an inclusive, collaborative, agile, and rewarding environment.

About this position :

The Inter-American Development Bank and ministries of economy and finance of Latin America and the Caribbean launched in 2022 the “Regional Climate Change Platform of the Ministries of Economy and Finance of Latin America and the Caribbean Platform” to exchange best practices for strengthening their climate and sustainable development agenda. Among the objectives of the Platform, the Bank is committed to support the ministries of finance in the integration of climate action in this policy and fiscal management.

The climate change agenda requires Ministries of Finance to play a central role, for this purpose facilitating and translating the challenges and opportunities brought by the need to align planning and budgeting to the Paris Agreement as well as build a low carbon and resilient development pathway. For this purpose, we are looking for an experienced Climate Finance Advisor to the Ministry of Finance and Economic Affairs. As the Ministry’s consultant, you will support the ministry in developing a Climate Change Policy (main tasks in the context of the team).

You will work for the Climate Change Division (“CSD/CCS”), which is part of the Climate Change and Sustainability Sector (“CSD”). This team is responsible for advising IDB management and developing policies, strategies, operational guidelines, and programs on issues relevant to the sector, as well as related areas. In addition, CSD carries out relevant sector research, analytical work, sector practices and case studies on climate change and sustainability. As a division of CSD, CSD/CCS provides support: (i) in the mainstreaming of climate change in the actions and operations of the IDB group and (ii) in the mainstreaming of climate change in the regional countries of the IDB group through support to the ministries of environment, planning, and economy and finance of the region. Both axes share the objective of strengthening climate policy at the subnational, national, and regional levels.

You will also work under the supervision of the Fiscal Management Division. This team is responsible for support to the operations of the IDB group in renewable energy and energy efficiency, biofuels, climate change mitigation and adaptation in IDB beneficiary countries.

What you’ll do :

  •  Develop a detailed workplan and timeline in which you will explain how you will deliver the products included in this consultancy, the data requirements, mapping of stakeholders and identification of key fiscal and climate change topics to be overseen by the Ministry of Finance, which may include but will not be limited to: 1) Macro-fiscal planning and management in the areas related to climate change (including the design of a climate finance strategy and action plan for its integration by the Ministry of Finance and assessing, identifying, quantifying and managing macro-fiscal risks of the transition to a decarbonized economy and fiscal risk posed by natural disasters including a model to estimate the fiscal impacts of decarbonization).

2) Opportunities in the design and implementation of carbon credits (including the implications for the country achieving NDC’s emissions reductions goals), thematic bonds, climate finance opportunities, bilateral climate and biodiversity funding, etc.

  •  Evaluate the implementation of the current climate fiscal budget tagging efforts of the Government, assess the inclusion of biodiversity tagging and recommend new measures to foster the ex-ante and ex post actions required during the process.
  •  Draft a Climate Change Strategy for the MFEI, which will require and include the following activities: o Collect all sectoral information on planning exercises, low carbon and resilient investments, to elaborate a climate finance context for Barbados, including a mapping of key stakeholders in the Government and partners.

o Map all key initiatives and Working Groups where Barbados has been invited and assess the opportunities for the Government.

o Develop technical notes to be used as talking points by the Government in international and national events on key matters such as: carbon credits, thematic bonds, climate finance opportunities, bilateral climate and biodiversity funding, Barbados’ vision on their Debt for Nature Swap, etc.

Elaborate a Climate Finance Plan for the MFEI to allow for the Government to count on a detailed document that will allow them to operationalize and foster climate investments based on Barbados Updated NDC it will include specific strategies to effectively access, mobilize and scale up climate investments from public, private and philanthropic resources.

Deliverables and Payments Timeline :

Deliverables

Payments

Planned Date to Submit

Detailed Workplan and Timeline

10%

15 days after signature of contract

Draft for the Fiscal- Climate change Strategy for the Ministry of Finance and Economic Affairs

20%

1.5 months after contract’s signature

Report on Climate Change and Biodiversity Fiscal Budget tagging, including recommendations for ex ante and ex post operationalization

30%

3 months after contract’s signature

Climate Finance Plan for the Government of Barbados so as to prioritize climate finance options based on a specific portfolio of projects

40%

4 months after contract’s signature

What you’ll need :

  •  Education: Master’s degree or equivalent in Economy, Finance, Public policy, Development or other fields relevant to the responsibilities of the role.
  •  Experience: Minimum of five years of relevant professional experience or the equivalent combination of education and experience in climate finance and development of climate change projects.
  •  Languages: Proficiency in English

Key skills :

  •  Learn continuously.
  •  Collaborate and share knowledge.
  •  Focus on clients.
  •  Communicate and influence.
  •  Innovate and try new things.

Requirements :

  •  Citizenship: You are either a citizen of Barbados or a citizen of one of our 48-member countries with residency or legal permit to work in Barbados.
  •  Consanguinity : You have no family members (up to the fourth degree of consanguinity and second degree of affinity, including spouse) working at the IDB, IDB Invest, or IDB Lab.

Type of contract and duration

  •  Type of contract: Products and External Services Consultant (PEC), Lump Sum .
  •  Length of contract: 12 Months
  •  Work Location : Remote.

What we offer :

The IDB group provides benefits that respond to the different needs and moments of an employee’s life. These benefits include:

  •  A competitive compensation package.
  •  A flexible way of working. You will be evaluated by deliverable.

Our culture

At the IDB Group we work so everyone brings their best and authentic selves to work, willing to try new approaches without fear, and where they are accountable and rewarded for their actions.

Diversity, Equity, Inclusion and Belonging (DEIB) are at the center of our organization. We celebrate all dimensions of diversity and encourage women, LGBTQ+ people, persons with disabilities, Afro-descendants, and Indigenous people to apply.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job interview process. If you are a qualified candidate with a disability, please e-mail us at diversity@iadb.org to request reasonable accommodation to complete this application.

Our Human Resources Team reviews carefully every application.

About the IDB Group

The IDB Group, composed of the Inter-American Development Bank (IDB), IDB Invest, and the IDB Lab offers flexible financing solutions to its member countries to finance economic and social development through lending and grants to public and private entities in Latin America and the Caribbean.

About IDB

We work to improve lives in Latin America and the Caribbean. Through financial and technical support for countries working to reduce poverty and inequality, we help improve health and education and advance infrastructure. Our aim is to achieve development in a sustainable, climate-friendly way. With a history dating back to 1959, today we are the leading source of development financing for Latin America and the Caribbean. We provide loans, grants, and technical assistance; and we conduct extensive research. We maintain a strong commitment to achieving measurable results and the highest standards of integrity, transparency, and accountability.

Follow us : https://www.linkedin.com/company/inter-american-development-bank/

https://www.facebook.com/IADB.org

About IDB Lab

Is the innovation laboratory of the IDB Group. We mobilize financing, knowledge, and connections to drive innovation for inclusion in Latin America and the Caribbean. We believe innovation is a powerful tool that can transform our region, providing today unprecedented opportunities to populations that are vulnerable due to economic, social, or environmental factors. IDB Lab has a commitment to gender quality and diversity as part of its development mandate. The Strategy and Impact unit supports IDB Lab in the development of strategy, connections and knowledge, and impact measurement and reporting.

Follow us : https://www.linkedin.com/company/idblab/

https://www.facebook.com/IDBLab

About IDB Invest

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $14.1 billion in asset management and 325 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

Follow us:

https://www.linkedin.com/company/idbinvest/

https://www.facebook.com/IDBInvest

Additional Information

  •  External Opening Date: May 29, 2023
  •  External Closing Date: Jun 16, 2023
  •  External Contact Email: hrsc@iadb.org
  •  External Contact Name: HR Service Center
  •  Job Field: Technical Support

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