Ecuador: Specialist Consultant For Debt For Climate/Nature Swap

ECUADOR: SPECIALIST CONSULTANT FOR DEBT FOR CLIMATE/NATURE SWAPINTRODUCTION TO GGGIThe 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 web page. 
GENERAL INFORMATIONDuty Station: Quito, EcuadorContract Duration: (21) March 2024 to (08) August 2024Estimated Work Days:  100 daysConsultant Level: Level 5Deliverable-based or daily rate: Deliverable-based PROJECT BACKGROUND 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.
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, the Government of Ecuador, under the leadership of the Ministry of Economy and Finance (from now on referred to as MEF) and the Ministry of Environment, has embarked on an ambitious effort to increase the mobilization of international climate finance and private investments for a climate resilient and low-carbon development. The Green Climate Fund's (from now on referred to as GCF) project called "Mobilization of international climate financing and private investments for climate-resilient and low-carbon development in Ecuador" will help Ecuador in achieving its goals.
The primary outcome of this project is that the GCF recipient country; Ecuador, has developed or enhanced its strategic frameworks to address policy gaps, improve sectoral expertise, and enhance enabling environments for GCF programming in low-emission investment.
The baseline to this outcome is that the Ministry of Environment, Water and Ecological Transition (from now on referred to as MAATE), the Interinstitutional Climate Change Committee (from now on referred to as CICC) and the Institutional Committee for Thematic Financing (from now on referred to as CIFST) face challenges to fulfil their mandate of coordinating and overseeing climate finance efforts due to: i) limited technical and institutional capacity; ii) lack of frameworks for the implementation of innovative sustainable finance instruments. Thus, the primary target is that MAATE, CICC and CIFST have enhanced capacity to fulfil their mandate through; i) enhanced technical capacity; ii) sustainable finance instruments frameworks: Debt for Climate Swap mechanism.
The objective of these Terms of Reference is to hire a consultant focusing on analysing, structuring, and implementing the Debt for Climate/Nature Swap mechanism of the government of Ecuador.
OBJECTIVES OF THE ASSIGNMENT The main objective is that the Debt for Climate/Nature Swap transaction is formally defined and institutionalized in the Government of Ecuador public debt strategy and plans. To achieve this objective, the consultant shall provide at least four regulations ready to be implemented when approved by the relevant ministries and/or other government actors, so they become official national regulations.
The consultant shall carry out the following:
Reviewing Ecuador's public debt policy to identify regulatory, Standard Operating Procedures (SOP) and governance gaps hindering the implementation of debt for climate swap operations.Convening and organizing five roundtables with strategic stakeholders i.e. MEF, CISFT, MAATE, MPCEIP, MREMH to validate regulatory barriers/gaps and proposed recommendations.Develop SOP and regulatory recommendations for the formal inclusion and regulation of debt for climate swap operations in Ecuador's public debt policy. This activity will consist in the development of legal instruments defining: Relevant actors involved in the transaction; Roles and responsibilities; Step by step process; Decision making criteria; Use and monitoring of funds; Timeline of implementation of Swap transactions.Establishing a governance mechanism, and monitoring, and reporting system in the form of regulation to ensure governance and transparency in the use of debt for climate swap proceeds. SCOPE OF WORK - DELIVERABLES Deliverables / Activities Deliverable 1: Prepare a Work Plan of the activities to undertake under the assignment tied to the specific objectives mentioned above. The Work Plan should include a timeline of main activities, methodology, milestones, validation meetings with GGGI, and description of final deliverables. The Work Plan should include the scheduling of meetings with the relevant stakeholders and their respective legal teams.Report: Debt for Climate/Nature Swap regulatory review. Deliverable 2: Organize and conduct roundtables with relevant stakeholders (at least 3).Roundtable report: meeting minutes, presentation material, participants list disaggregated by gender, future compromises, legal instrument deliverables, and agreements. One report for each roundtable should be presented, once the individual reports are revised and approved, they can be included in the aggregated report for this deliverable.Report: Debt for Climate/Nature Swap Standard Operating Procedures (SOP).Report: Debt for Climate Swap regulatory recommendations. Deliverable 3: Report: Debt for Climate/Nature Swap governance, monitoring and reporting methodology.Write at least four regulations ready to be implemented when approved by the relevant ministries and/or the national assembly, so they become official national regulations and/or law.  The details of the regulations will be defined throughout the execution of deliverable 2 – 5 as well as the roundtables with relevant stakeholders. The Service Provider shall adapt policies to deliver a portfolio of regulations, that capture the specific features/aspects of the government needs or operational environment to ensure optimal project delivery.Systematize all collected information to prepare a final report encompassing all the work done in the consultancy as well as recommendations for future debt for nature swap operations. PAYMENT SCHEDULEPlease 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:

Deliverables Payment Percentage Completion Date Deliverable 1: includes activities 1 & 2
30%
Two weeks upon contract signature
Deliverable 2: includes activities 3, 4, 5 & 6
40%
Fourteen weeks upon contract signature
Deliverable 3: includes activities 7, 8 & 9
30%
Twenty weeks upon contract signature
COORDINATION AND COMPLIANCE All relevant technical papers, reports, regulation drafts and other documents prepared from the start to the end of the assignment shall be revised and approved by the project manager (GGGI).  The dates of the review periods must be detailed within the workplan.All relevant technical papers, reports, and other documents prepared from the start to the end of the assignment shall be attached to the final Report and should be included in a digital repository.All reports and results must be in Spanish, in accordance with GGGI format requirements, and presented in electronic formats, along with complete sets of raw data, research materials, interview notes and any related evidence.The consultant will make the best use of both primary and secondary sources of information to develop activities defined under the contract objective.The consultant will work closely with GGGI staff to ensure the goals of this consultancy, and he/she will also be responsible for reporting their progress to the GGGI assigned supervisor.This position will require a near full-time on-site presence at the MEF at least 4 out of 5 (80%) days of the working week.This consultancy fee is a lump sum cost. EXPERTISE REQUIREDAdvanced university degree (master's degree or equivalent) in Law, Sustainable Finance Law, Sustainable Development Law, Climate Change Law, or a related field.8-15 years of relevant experience since obtaining a master's degree.At least 5 years of specific experience in some of the following areas: sustainable finance law, sustainable credit product structuring law, public policy formulation, climate change law. Verifiable experience design and Implementation of government regulations/laws, Ecuadorian experience is desirable.Knowledge of sustainable finance instruments such as debt for nature swaps.Verifiable experience in generating public policy and environmental evaluations.Verifiable experience in creating standard operating procedures.Experience in managing multidisciplinary groups.Will be highly valued for having one of the following knowledge/experiences:International context and/or negotiations among parties regarding debt for nature swaps.International experience developing regulatory frameworks for sustainable finance instruments. KNOWLEDGE AND SKILLS Advanced knowledge of sustainable finance principles and practices, including debt-for-nature swaps and sustainable credit product structuring.In-depth understanding of relevant laws and regulations related to sustainable finance, climate change, and sustainable development in Ecuador, Latin America, and the World.Strong analytical skills, with the ability to assess complex legal and regulatory frameworks and provide practical recommendations.Experience in policy formulation and environmental evaluations, with a focus on promoting sustainable development.Proven ability to develop and implement standard operating procedures to ensure compliance with regulations and achieve sustainability goals.Strong communication and negotiation skills, with the ability to engage effectively with stakeholders at all levels.Fluency in Spanish and English  ADMINISTRATIVE INFORMATION   Request:  GGGI Application form, CV?and cover letter? Selection method/process: competitive? Timeline of selection: 15 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. Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI's Child Protection Policy is written in accordance with the Convention on the Rights of the Child.