Consultant Developing Climate Resilient Loan Products in Renewable Energy

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. 

GENERAL INFORMATION
Project: Fiji Development Bank Climate Finance and Technical Assistance Project (FDB-TA)
Position: Consultancy for Developing Climate-Resilient Loan Products in Renewable Energy
Duty Station: Suva, Fiji and Home Office
Contract Duration: 1 April 2025 – 18 January 2026
Number of Workdays Estimated: 115 days each
Consultant level: 4
Total Fees: USD 45,000

BACKGROUND
The Fiji Development Bank (FDB) is committed to supporting Fiji’s transition towards a sustainable, low-carbon, and climate-resilient economy. Recognizing the urgent need to address climate change and its associated impacts, FDB is enhancing its financial products to support initiatives in electric mobility, renewable energy, and climate change adaptation. These enhancements are designed to broaden access to financing for climate-aligned projects, with particular attention to supporting vulnerable populations. This initiative is part of a collaborative project with the Global Green Growth Institute (GGGI), funded by the Agence Française de Développement (AFD), aimed at advancing sustainable finance solutions (shifting away from business as usual) across key sectors.

FDB’s strategic goal is to align its financing products with national development priorities, as well as global commitments such as the Paris Agreement and the Sustainable Development Goals (SDGs). In this context, FDB is working alongside GGGI and with funding from AFD to expand its portfolio of climate-resilient loan products, making them accessible to individuals and businesses, including those from underserved communities.

The enhanced loan products will prioritize inclusivity, ensuring clear eligibility criteria that expand access to finance for vulnerable groups—including women, marginalized communities, and geographically isolated populations. This emphasis on equitable access is intended to reduce social and geographic disparities in financial services.

The development and enhancement of these products will follow a structured, collaborative approach, engaging key stakeholders, such as the Fiji Government, private sector entities, and other relevant market actors. Through market studies, alignment with national priorities, and the design of financially viable products, FDB seeks to position itself as a leading institution in sustainable finance, driving real progress toward Fiji’s environmental goals and supporting a more inclusive, climate-resilient economy.

OBJECTIVE
The primary objective of this assignment is to develop frameworks (policy statement, strategy & Lending Guidelines) and enhance FDB’s current loan offerings, such as loan terms, eligibility criteria, marketing, in three key areas of sustainable finance: Electric Mobility, Renewable Energy, and Climate Change Adaptation. This includes adapting existing loan products such as agriculture (fisheries, forestry, etc.), new energy vehicle loans, sustainable energy finance, transport loans, etc., to support climate-aligned initiatives and broaden access for vulnerable groups. FDB currently has over 24 loan products, of which one is for energy efficient electronic vehicles and one for sustainable blue finance.

All proposed products will be designed and refined through a collaborative process with key stakeholders, including FDB, the Fiji Government, civil society organisations, professional associations and other private sector actors. These products will aim to meet the diverse financing needs of individuals and businesses, promote environmental sustainability, and strengthen FDB’s role as a sustainable finance leader in Fiji and the Pacific region.

Specifically, the objectives include:

Aligning Loan Products with Global (SDGs), National & FDB Mandate Priorities: Developing enhanced loan products that directly contribute toEnsuring that the enhanced loan products support the SDGs, Fiji government’s goals, including 2021 climate change act, national climate change policy for 2018-2030, national adaptation plan (NAP), and FDB’s mandate in promoting electric mobility, renewable energy, and climate change adaptation, ensuring financial accessibility for vulnerable populations.. Each product will have clearly defined eligibility criteria to promote financial access for vulnerable groups, addressing gender, social, and geographic inclusion.
Promoting Sustainable Development: Facilitating access to finance for projects that contribute to environmental and social sustainability, reduce carbon emissions, energy efficiency and build climate resilience. This involves both expanding current products of FDB to meet sustainable development criteria and introducing enhanced financing options for climate-smart investments.
Enhancing FDB’s Market Position: Positioning FDB as a leading financial institution locally and in the Pacific region for sustainable finance by offering innovative and relevant loan products.
Capacity Building: Equipping FDB staff with the necessary skills and knowledge to effectively manage and promote enhanced loan products, ensuring a strong institutional capability to support and sustain the bank’s climate and inclusivity goals.
Integrating Findings into the FDB Climate & Eco Finance Strategy: The findings from this assignment will contribute directly to the ongoing review of the FDB Climate & Eco Finance Strategy. 

SCOPE OF WORK AND OBJECTIVES
GGGI intends to recruit three individual consultants to develop the frameworks and enhance the existing FDB loan products. The evaluation of expression of interests (EOIs) would be heavily focused on individual expert CVs.

The consultants will report to the Manager Climate & Eco Finance (CEF), FDB on a monthly basis in collaboration with the Senior Economist-Pacific and Green Investment Officer from GGGI and work closely with FDB’s teams in Policy and Product, Finance/Treasury, Credit Risk & Approval, Enterprise Risk Management, Internal Audit, Relationship and Sales, with support from the CEF Team. Regular progress updates will be required, and all deliverables will be subject to review and approval by FDB.

The Consultant will conduct weekly progress meetings with the Manager of the Climate & Eco Finance Team to provide updates on each task's progress against the agreed timeline. These meetings will ensure alignment of deliverables and address any challenges that may arise during the implementation. The outcomes of these meetings will be documented in minutes, which will be reviewed and signed by all parties to signify mutual acceptance and agreement on the progress reported.

The consultant/team will also be expected to engage regularly with key stakeholders, including the Government of Fiji, private sector representatives, and other relevant stakeholders, to ensure that the loan products are developed in a collaborative and inclusive manner.

Renewable energy is a cornerstone of Fiji’s strategy to enhance energy security, reduce carbon emissions, and promote sustainable economic growth. To support this vision, FDB is enhancing its financing options for renewable energy projects. These financing options will serve both individual consumers and businesses, equipping them with the financial resources needed to invest in renewable energy technologies and actively participate in Fiji’s transition to a clean energy future. Renewable energy finance includes manufacturing, import/export, production, and final use of small and large-scale wind power, hydropower plants, solar PV system, solar thermal energy including solar water heating/cooling system, heat pump, biomass boilers, biogas generation, geothermal, waste to energy etc. 

3.1. Host Workshop on Shared Priorities for Renewable Energy

Task: Organize and facilitate a workshop to align stakeholders on enhancing FDB’s renewable energy financing products, with a focus on adapting current offerings for individual and business consumers in solar, wind, and bioenergy sectors. Emphasize criteria that enhance access for underserved populations.
Deliverable: Workshop report summarizing key discussions, agreed priorities, potential partnerships, and action items. Incorporate comments and feedback received from FDB and GGGI in the output.
Content for FDB’s Climate & Eco Finance Strategy Review.

3.2. Develop FDB Renewable Energy Strategy Statement

Task: Draft a renewable energy strategy that integrates sustainable finance goals into FDB’s existing loan products. Ensure alignment with SDGs. government policies, FDB mandate, and accessibility for individuals and businesses in underserved areas.
Deliverable: FDB Renewable Energy Strategy Statement document, including strategic goals, performance indicators, and including analysis of alignment with existing products. Incorporate comments and feedback received from FDB and GGGI in the output.
Content for FDB’s Climate & Eco Finance Strategy Review.

3.3. Undertake a Fiji Renewable Energy Loan Market Study

Task: Conduct a market study assessing demand for renewable energy financing, focusing on adapting FDB’s current products to better support climate resilience and inclusivity. The study will include an analysis of market size, demand features, existing financial products, and barriers to market entry. A review of global best practices in renewable energy financing will also be conducted.
Deliverable: Fiji Renewable Energy Loan Market Study report, including market analysis, demand estimation, competitive landscape, and strategic recommendations. Incorporate comments and feedback received from FDB and GGGI in the output.
Content for FDB’s Climate & Eco Finance Strategy Review.

3.4. Design FDB Renewable Energy Loan Product

Task: Develop a loan product specifically designed for renewable energy projects. This will include borrower features, eligibility criteria, operational requirements, risk management strategies, and pricing models. The product design will also explore potential partnerships with renewable energy companies, suppliers, and government agencies.
Deliverables: FDB Renewable Energy Loan Product Design document, including product specifications, risk assessment, pricing strategy, and implementation plan. The design will also require approval from the relevant FDB management committee.The consultant will also provide relevant inputs for FDB’s Climate & Eco Finance Strategy Review, FDB. Incorporate comments and feedback received from FDB and GGGI in the output.

3.5. Operationalize FDB Renewable Energy Loan Product

Task: Develop the necessary procedures, manuals, lending guidelines, templates, and forms to reflect enhanced renewable energy loan products. Training will be provided to FDB staff in relevant departments to ensure they are equipped to manage and promote the enhanced loan product effectively.
Deliverable: Complete set of operational materials, including procedures, manuals, templates, and forms. Training completion report for FDB staff, documenting the training sessions conducted, participants, and feedback. Additionally, the consultant will provide relevant inputs for FDB’s Climate & Eco Finance Strategy Review. Incorporate comments and feedback received from FDB and GGGI in the output.
3.6. Closely coordinate with the team leader, incorporating their feedback into documents prepared by the consultant and reports requiring the consultant’s input. Actively contribute to teamwork by attending team meetings organized by the team leader and providing regular updates via email and other communication channels.

TIMELINE, DELIVERABLES AND PAYMENT SCHEDULE
Payments will be made upon FDB and GGGI approval of each deliverable.

EXPERTISE REQUIRED
A degree in engineering, energy, sustainability, finance or any other relevant field
At least 4 years of expertise in renewable energy and climate finance.
Proven track record in renewable energy (RE) finance market studies and RE loan product development (writing samples will be required).
Strong understanding of promoting access to energy.
Experience in a similar country context is preferred but not mandatory. 

ADMINISTRATIVE INFORMATION 
The assignment is expected to be completed within the timeline of April 2025 to January 2026. The consultant/team is expected to adhere strictly to this timeline, ensuring timely delivery of all deliverables.

Interested consultants are invited to submit their proposals, including:

A cover letter detailing their suitability for the assignment.
CV
2 references and 2 samples from similar previous assignments.
A budget breakdown and financial proposal. Field trip(s) should be factored into the financial proposal, with the understanding that the majority of tasks will be conducted remotely from the consultant's home office.
Proposals must be submitted by 20 February 2025 (11:59 PM KST) through the GGGI online platform in accordance with the platform’s rules. Any correspondence related to this advertisement should be conducted exclusively through the GGGI platform.

Late applications will not be considered. Submissions received after the deadline via the GGGI platform will be automatically disqualified.

All application materials, including the Cover Letter and CV, must be in English. The opportunity is for individual consultants only. However, a company may nominate one of their experts. In this case, the contract will be signed solely with the individual consultant.

Proposals will be evaluated based on the following:

Relevant Experience: 50%
Proposed Methodology: 25%
Budget and Cost-effectiveness: 15%
Timeline and Work Plan: 10%.