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The 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 about GGGI web page.
Nicaragua relies on concessional international climate finance from development partners to finance its development and climate change objectives. However, the achievement of Nicaragua’s NDC targets requires a substantial increase in the volume of public and private, national and international climate finance invested in the country. The significant investment and efforts required for Nicaragua to implement its development and climate change plans risks being hampered by the 2018 attempted coup, the impact of the COVID-19 pandemic and Hurricane Eta y Iota, which hit the country, almost simultaneously, after a prolonged period of high debt-financed public infrastructure investments, deteriorating the country’s economic outlook, shifting priorities towards economic recovery, and reducing fiscal and policy space to pursue priority climate change initiatives. Although international climate finance offers some relief to the country´s growing debt to GDP ratio, the decreasing level of international aid and limited private sector participation in the country’s development agenda undermines the long- term sustainability of this fiscal approach.
As a result of the limited fiscal space and decreasing ODA resources, the Government of Nicaragua is facing the necessity and challenge of increasing access to international climate finance and private sector contribution to the country’s NDC targets, with two main barriers limiting progress:
The proposed Readiness grant tackles identified climate finance barriers supporting the Government of Nicaragua develop strategic frameworks to enhance access to international climate finance, and promote private sector investments in mitigation and adaptation plans by:
Hire a consultant to support the implementation of the GGGI GCF Readiness project in Nicaragua, regarding activities with the National Designated Authority NDA, Ministry of Environment and Natural Resources (MARENA). The Consultant will be responsible for the implementation of the activities assigned by MARENA and detailed in this TOR It includes support in the identification and management of environmental projects linked to Nationally Determined Contributions NDC, including the identification of financial resources, risk management and preparation to access climate financing.
The Consultant will ensure that all deliverables are of high quality and validated with government counterparts, in compliance with the NDA’s, GGGI’s and GCF’s policies and procedures.
*Note 1) The consultant will report to the Project Manager and the Nicaragua GCF NDA Ministry of Environment and Natural Resources (MARENA in Spanish).
*Note 2) During the first week of assignment the consultant will define the reporting arrangements of the consultancy, in consultation with the NDA and the Project Manager.
*Note 3) The consultant may be required by either the NDA or Project Manager to work within the premises of the Ministry of Environment and Natural Resources, for the days of the consultancy.
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