Result of Service

3. Ultimate Result of Service The final outputs of service are the followings: • Formalized governance documentation for the SDC • Formalized membership documentation for the SDC • Official declaration(s) of the SDC • Action plan on country-defined key performance indicators in debt issuances • Scaled growth of the SDC’s membership, secretariat and impact to global discourse on the reform of the sovereign debt architecture.

Work Location

ECA Home Based

Expected duration

12 months

Duties and Responsibilities

1. Background Information The Global South faces a complex array of interconnected and persistent crises that exacerbate poverty and inequality. The magnitude of these challenges is further amplified by several factors, including insufficient access to affordable financial resources to meet economic, social, and environmental goals. Sovereign debt burdens are amongst the most challenging issues for some countries, leading to negatively reinforcing feedback loops, including on development and climate change. Many debt-related challenges continue to increase in magnitude and acuity, despite intentions to improve financing and investing towards inclusive and sustainable economic development. A growing ‘finance divide’ has significantly reduced the ability of many developing countries to invest in recovery, climate action, and sustainable development. In the current poly-crisis era, the average ratio of public debt relative to GDP has climbed nearly 30% in low-and middle-income countries. Debt servicing is consuming a significant and growing portion of revenues. In Africa, 57% of governments are forced to allocate more funds to debt servicing than healthcare, and 17% allocate more to debt servicing more than education. Higher public debt not only limits access to affordable financing but also constraints a sovereign’s capacity to address climate change and development issues. Increased climate change exacerbates environmental, economic and social pressure, thereby undermining a nations’ ability to repay debts. There is an urgent need for action between borrower and creditor nations to break this spiral. Reforms to the international financial architecture are an integral part of these urgently needed actions. In this context, ECA has been supporting African member States to amplify Africa’s position on topics related to the reform of the global financial architecture and on improving sustainable innovative financing mechanisms, by providing analytical, evidence-based advocacy support as well as providing a coordination function to the Sustainable Debt Coalition (SDC). The SDC was launched by the Egyptian Ministry of Finance at COP 27 with the intent to, “(i) highlight the difficult fiscal position of emerging market and developing economies and its debilitating impacts on climate action and development, (ii) spur Coalition partners to align on a set of new crucial commitments to alleviate the debt burden, and (iii) launch a new track for consultations at the intersection of debt, climate, and development”. The Coalition was endorsed by the Forty-First Meeting of the Conference of Ministers in its efforts “to reduce the debt burden of developing countries and create fiscal space for green investment in Africa”. It was further supported in the Forty-Second Meeting of the Conference of Ministers, with a call on partners to “systematically support the sustainable debt coalition in contributing to efforts to tackle the foreign debt challenges faced by Africa and the reform of the global financial architecture”. Drawing on ECA’s three core functions: think-tank, convener, and executing agency, the support to the Coalition will strengthen the voices of developing countries and African member States in strengthening climate-aligned debt management and the broader reform of the global finance architecture. Against this backdrop, the United Nations Economic Commission for Africa (ECA), through the Climate Change, Food Security and Natural Resource Division, is considering recruiting a consultant with a strong technical and leadership background to support the work of the SDC. 2. Duties and Responsibilities Under the supervision of Acting Director, Climate Change, Food Security and Natural Resources Division (“Supervisor”), the Consultant will be responsible for the following: 1. Coordinate the continued scaling of the Sustainable Debt Coalition, including its membership growth, enhanced membership engagement, expanded engagement in international fora, expand and lead the performance of the secretariat. 2. Coordinate strategic planning for the future of the Coalition, including recruitment, personnel management, country engagement, and future leadership arrangements. Act as the SDC’s central focal point. Provide strategic and operational guidance. 3. Enhance, adapt, and formalize governance documentation for the SDC, with the support of the legal consultant(s). Such documentation outlines the purpose of the SDC, its legal architecture, membership classes, and key rights and responsibilities of all stakeholders, including the Secretariat. Be responsible for the regular monitoring and evaluation of the SDC’s activities. Revisions of such documentation should enhance its legal credibility and protections of the SDC from undue influence. 4. Refine membership documentation for the SDC, with the support of the legal consultant(s), consisting mainly of a commitment letter for countries to sign, supplemented by other documentation as deemed necessary by Consultant and delegates of Supervisor. Such documentation shall outline commitments and obligations of member, Coalition, Secretariat, and related parties. Foster robust relationships between the members, prospective countries, joint institutions and the SDC ensuring a strong collaborative effort. 5. Enhance, adapt, and formalize the proposed first official declaration of the SDC, with the support of the legal consultant, to be adopted at its formal launch. Such declaration shall outline the mission and objectives of the SDC, its initial priorities, any commitments of its members, and requests to the Coalition Secretariat. 6. Coordinate the creation of a general action plan for countries interested to develop, market, and manage debt instruments linked to country-defined key performance indicators, especially sustainability-linked bonds. Such action plan shall outline, at least, (i) options available to countries, (ii) a step-by-step process for countries to develop these instruments, (iii) key considerations for key performance indicators and Second Party Opinion, (iv) key legal considerations associated with the use of these instruments (supported by the legal consultant) and key documentation of the sustainable finance instrument, framework, or program to align with sustainable finance principles, and (v) key considerations regarding relevant IMF standards, protocols, and perspectives (supported by the legal consultant). 7. Provide targeted support to countries wishing to use any instrument(s) prioritised by the SDC. Contribute to strengthen the SDC’s communication strategy by organizing related ministerial events, policy work, and knowledge creation to expand the political reach of the SDC. Such support shall be provided in partnership with the Supervisor. 8. Provide support to African countries to be able to advocate for their climate finance needs at the 29th Conference of the Parties to the UNFCCC and in the context of preparatory events for this convening. Offer comprehensive capacity building, technical assistance, and advocacy training session to develop effective communication strategies. 9. Assist consultant on financial planning and fundraising for the SDC. 10. Deliver other services as directed, for the continued scaling of the SDC, related research and advocacy, and the support of its members. 4. Contract Duration The consultant will be working on a full-time basis. Overall Contract Duration: 12 months Total Remuneration: 142,800 USD (11,900 USD per month)

Qualifications/special skills

Education: Advanced university (Master’s degree) in economics, environmental economics or development or related fields is required. A submitted Doctoral thesis is desirable. A first level university degree in a combination of additional two years of qualifying experience may be accepted in lieu of the master’s degree. A minimum of ten (10) years of progressively responsible relevant international experience in sustainable development, of which at least two years of experience in the areas of climate finance is required. Experience in international development issues as they relate to climate change and sustainable development, including knowledge of key players and processes, is required. Knowledge of UNFCCC processes is required. Knowledge and experience of debt issues in developing country contexts is required, in particular related to development finance needs.

Languages

Language: English and French are the working language of the UN Secretariat. Fluency in one of the languages, English or French is required; knowledge of the other is desirable. Knowledge of another UN official language is an advantage.

Additional Information

Not available.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.