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 81 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. In order to sharply focus the objectives of the Ten Year Strategy (2013 – 2022) and ensure greater developmental impact, five major areas (High 5s), all of which will accelerate our delivery for Africa, have been identified, namely: energy, agro-business, industrialization, integration and improving the quality of life for the people of Africa.
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 HIRING DEPARTMENT
The Climate Change and Green Growth Department has broad objectives of:
- Developing and implementing the Bank’s Climate Change and Green Growth Framework comprising a Policy, Strategy and Action Plan which will guide the Bank to Paris Alignment within the next few years
- Mainstreaming climate change and green growth into Bank’s High 5s’ operations
- 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, 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 HIRING DIVISION
The Climate and Environment Finance Division is responsible for ensuring the Bank’s and RMCs’ enhanced access to climate and green finance. Specifically, the Division manages the growing pool of climate resources available within and outside the Bank, develops innovative ways and tools to increase Bank’s access to climate and environment finance, strengthens the capacities of RMCs to access global climate finance through their Nationally Determined Contributions, improves climate finance tracking within the Bank, and engages in thought leadership and knowledge development on climate finance.
The purpose of this job is to ensure efficient and predictable access to green and climate finance to enable the Bank to channel funds to achieve the High 5s, bring more climate and environment finance to the Continent and achieve its climate finance targets. The incumbent will be a core member of the climate finance team, supporting the various climate funds for which the Bank is an implementing entity. The job serves all of the Operational Vice Presidencies in order to ensure that climate and green finance are made available and successfully accessed by all of the Operational Vice-Presidencies. He/she will also contribute to achieve the objectives of the Bank’s Climate Change Policy, Strategy and Action Plan.
Under the overall supervision and general guidance of the Division Manager – Climate and Environment Finance, the Climate Finance Officer will perform the following:
- Prepares documentation for, and assists with applications to the Green Climate Fund for projects from the Bank’s operational complexes
- Supports access to other external and internal climate change funds such as the Green Climate Fund, Global Environment Facility, Climate Investment Funds, Africa Climate Change Fund by meeting operational, accreditation and reporting requirements and following appropriate modalities and procedures
- Creates 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, Donors and Development Partners
- Actively communicates with the Fund Secretariats (particularly GCF Secretariat) and other participating accredited entities, National Designated Authorities and Focal Points, and other relevant stakeholders to advance the Bank’s interests and secure project approvals
- Attends and represents the Bank at Fund Meetings and other events where requested
- Advises all Operational Vice Presidencies on accessing climate finance, by building strong links with Officers and Task Managers within the Bank and communicating regularly
- Ensures that the Bank fulfils internal and external quality control and reporting obligations to the climate funds by ensuring that reports are prepared in a timely and accurate manner
- Contributes actively to the development, management and administration of climate funds, by responding to calls for input, attending meetings and conference calls and making innovative proposals to scale up finance
- Supports Bank’s efforts to allocate at least 40% of its approvals per year as climate finance, and support African countries to benefit from the global commitments to raise USD 100 billion per year for climate finance
- Actively works with project teams to develop bankable projects for climate finance
- Works in close coordination with existing climate finance structures under the UNFCCC, the MDBs and other relevant institutions, with the view to advocate for enhanced Africa’s access to climate and green finance
- Provides technical support on climate finance in contribution to all High 5 activities and support RMCs, in helping them achieve their climate finance targets under the Paris Agreement, and particularly their Nationally Determined Contributions and their Long-Term Strategies
- Develop financing instruments that will incentivize the private sector to invest in climate change adaptation and mitigation programs and projects
- Provides advisory and investment services to all Bank’s sector and regional operations on issues related to the access to GCF resources
- Assist in increasing access to finance through the development of innovative financing instruments finance.
COMPETENCIES (skills, experience and knowledge)
- At least a Master’s Degree in international development studies, climate change, climate finance, environmental management, finance, economics or related field.
- A minimum of Six (6) Years experience in climate or green finance; trust fund management; multilateral development bank procedures, and a combination of project development and management experience; private sector experience
- Strong experience in accessing GCF funds with a focus on adaptation and mitigation, ideally demonstrated by direct involvement in the approval of existing GCF projects
- Strong experience in infrastructure finance and in blended finance
- Knowledge and experience on climate finance, and on multilateral climate governance framework and global climate finance architecture
- Understanding of climate and green finance issues, challenges and practices relating to Africa
- Experience in the provision of climate finance resources for lending and non-lending operations
- Experience in the area of climate change adaptation and mitigation, with a particular emphasis on scaling up climate finance for Africa
- Knowledge and experience in policy dialogue and cross-institutional collaboration at the highest level, including with representatives of government and non-government partners
- Understanding of critical issues in sustainable development, international climate change policy, and climate finance, and
- Further experience in financial accounting and reporting, green and inclusive growth accounting and reporting (triple bottom line), risk management, and portfolio management.
- Experience in private sector will be an added advantage
- Ability to communicate orally and in writing effectively in French or English, with a working knowledge of the other language.
- Competence in the use of standard Microsoft Office applications (Word, Excel, Access, PowerPoint). Knowledge of SAP and Bank-Wide Program Processing Schedule (BPPS) is desirable.
THIS POSITION IS CLASSIFIED INTERNATIONAL STATUS AND ATTRACTS INTERNATIONAL TERMS AND CONDITIONS OF EMPLOYMENT.