Background:  

Grenada’s economy depends on climate-sensitive sectors like tourism, agriculture, and construction, which are highly exposed to extreme weather and sea level rise. To transition to a low-carbon, climate-resilient economy as outlined in its Nationally Determined Contributions (NDC) and National Adaptation Plan (NAP), Grenada requires significant support from the private sector to mobilize the over $500 million required in investments over the next decade. To address this, the Government of Grenada, through the Grenada Development Bank (GDB) with funding provided by the Green Climate Fund (GCF) is leading a climate finance capacity-building project for the Private Sector in Grenada. This includes training for private sector stakeholders on green finance management, climate risk screening, and investment planning. By doing so the project aims to foster an environment where the private sector can actively contribute to Grenada’s climate adaptation and mitigation efforts.

Targeted beneficiaries include: 

a) financial institutions – commercial banks, development banks, credit unions, regulatory bodies

b) insurance companies and insurance service providers

c) private sector businesses – hoteliers, micro, small, medium, and large commercial businesses

d) commodity boards and state-owned enterprises

e) private sector education and medical service providers and training agencies

f) construction service providers - builders, architects, engineers, etc.

Consultancy Objectives:

The Government of Grenada, through the Grenada Development Bank (GDB), is seeking to engage an International Climate Finance Specialist who will be responsible for implementing deliverables for the following outputs:

Output 1.3.2:

A Procedures and Standards manual for green financing project/program portfolio management, in private sector finance institutions in Grenada is established.

Output 1.3.3:

Private Sector stakeholders in the Financial Sector are trained to develop concrete procedures and standards for their green finance portfolio.

Output 1.3.7:

Financial regulators and policymakers (such as GARFIN, FIU, AML/CTF Commission, CAIPO, IRD, PURC) are enabled to develop guidelines and/or regulations, that promote the transition to a green financial system. 

Output 2.4.1:

A GAP analysis of the financial sector for climate financing is developed and validated.

Output 2.4.2:

An assessment report of barriers to private sector investments in climate change mitigation and adaptation, by micro, small, and medium-size enterprises (MSMEs) in Grenada is developed and validated. 

Output 6:

A comprehensive country climate finance policy and strategy to leverage the private investments needed for climate change resilience and mitigation investments is developed and validated.

Timeline: 

The Climate Finance Expert will be engaged in a fixed-price consultancy which is expected to be conducted for the duration of 5 man-months within a seven-month period. 

Key Qualifications and Experience:

The Climate Finance Specialist must possess the following key qualifications, skills, and demonstrated experiences: 

Education: 

· Master’s degree (PhD preferred) in Economics, Climate Change, Public Financial Management, Environmental Science, Law, or related fields.

Professional and Practical Experience:

· Over 10 years in international development, with 7+ years in climate finance policy design, working with national governments and international organizations.

· Evidence of hands-on experience in capacity building and stakeholder consultations should be provided.

Technical Expertise:

· Experience in high-level climate finance reporting, financial modelling, green budgeting, and climate finance project development.

· Knowledge of UN Climate Negotiations, Financial Mechanism of the Convention, and GCF Readiness programs.

Regional Experience:

· Experience working in the Caribbean or similar regions is prioritized, with the required insight into local financial and cultural contexts for climate finance.

The GDB now invites suitably qualified individual consultants (“Consultants”) of all backgrounds to indicate their interest in providing these services. Firms may propose qualified individual consultants for this assignment – one individual consultant per firm. Only the experience and qualifications of individuals will be considered in the selection process.

Submission Guidelines:

Expressions of Interest must be submitted with the headline GCF Readiness and Preparatory Support Programme - International Climate Finance Specialist on or before 2pm AST, December 27th, 2024, and must include, 1) A Statement of Capability, with an indication of availability, and 2) A Curriculum Vitae with relevant accomplished works. Expressions must be submitted via the following email: info@gdbbank.com, copied to: cpu@gov.gd and must be addressed to:

The General Manager

Grenada Development Bank

Melville Street

St. George's

Grenada

The detailed Terms of Reference (TOR) for the assignment can be found at the following websites: www.gov.gd or www.procurement.gd or grenadadevelopmentbank.com or, can be obtained through a written request to info@gdbbank.com.

Only shortlisted candidates will be contacted to submit a full proposal.

Terms of Reference