Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)

INTRODUCTION TO GGGI

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.  

Paraguay faces significant challenges in mobilizing and effectively utilizing climate finance. In partnership with MEF, GGGI is launching a new Green Climate Fund (GCF)-funded technical assistance project titled “Strengthening the National Designated Authority, Candidate Direct Access Entity, National Programming Process, and Development of Strategic Frameworks for Low-Carbon Development in Paraguay.” This initiative aims to enhance Paraguay’s capacity to access, manage, and coordinate GCF resources, track climate finance flows, integrate climate action into planning and budgeting, and catalyze private sector investment in climate mitigation.

Key objectives include:

• Strengthening MEF’s capacity as Paraguay’s Nationally Designated Authority (NDA) to effectively coordinate and manage GCF funding and track climate finance flows.

• Supporting AFD’s accreditation process to meet GCF’s standards and criteria.

• Operationalizing Paraguay’s Green Taxonomy to provide clear definitions for green assets and investments, fostering transparency and investor confidence.

• Integrating climate indicators and targets into the Paraguay National Development Plan 2050, including a strategy to drive green job creation and sustainable economic growth. 

The Sustainable Finance Consultant will play a key role in advancing the implementation of Paraguay’s Green Taxonomy and supporting the broader sustainable finance agenda under the GCF Readiness project. The Consultant will lead the piloting of the Green Taxonomy with selected financial institutions, develop tools to assess alignment and compliance, and prepare an actionable roadmap for national rollout. Additionally, the Consultant will contribute to the development of strategic frameworks, capacity-building initiatives, and climate finance instruments in close collaboration with MEF and other stakeholders. The work will focus on promoting sustainable financial products that support a productive transformation aligned with environmental and climate objectives.

The specific objectives of the assignment are to:

• Support the piloting of Paraguay’s Green Taxonomy by assisting a selected institution in integrating the taxonomy into credit disbursement or capital-raising instruments (e.g., green bond frameworks).

• Design and administer a self-assessment tool to evaluate the alignment of financial institutions with the Green Taxonomy and identify capacity or implementation gaps.

• Analyze pilot results and self-assessment findings to develop recommendations for improving the taxonomy’s adoption and institutionalization.

Develop a Green Taxonomy Action Plan outlining key steps, responsible actors, and resource needs to support full-scale national implementation.

5. Develop sustainable financial and capital-market products that promote inclusive economic growth and environmentally sustainable activities, in alignment with national development priorities and the Paraguayan regulatory framework. Carry out a comprehensive analysis of Paraguay’s financial sector and capital markets—identifying key challenges and propose potential, regulation- compliant solutions to diversify funding sources, improve market access, and strengthen system stability and transparency.6. Contribute to the broader sustainable finance deliverables of the project, including development of the GCF Country Program, GCF capacity-building activities, support to AFD’s accreditation process, integration of sustainable finance in the PND 2050, and design of a national MRV system for climate finance flows. 

The Sustainable Finance Consultant will be part of the Readiness Technical Unit (RTU) and will report to GGGI Project Manager and to the Vice Ministry of Economy and Planning (VEP) of the Ministry of Economy and Finance (MEF). The consultant is expected to lead the following activities, among others:

 1. Pilot Implementation of Paraguay’s Green Taxonomy

• Support a selected institution in integrating the Green Taxonomy into financial instruments (e.g., green bond frameworks).

• Conduct a gap analysis of the institution’s readiness to implement the taxonomy taking into account the existing regulatory framework.
• Provide targeted training to institutional staff selected by the NDA, focusing on the integration of the Green Taxonomy into operational practices.

 2. Development and Administration of a Self-Assessment Tool

• Design an Excel-based tool to evaluate the alignment of financial institutions with the Green Taxonomy.

• Identify gaps and priority areas for alignment.

• Conduct capacity-building sessions to improve institutional understanding and implementation.

 3. Assess results from pilot and self-assessment processes to develop recommendations for more effective roll out of green taxonomy

• Assess the insights and lessons from the piloting of Paraguay’s Green Taxonomy.

• Develop recommendations for more effective roll out of green taxonomy based on the assessment of the pilot program.

 4. Develop Green Taxonomy Action Plan to expedite its roll out and adoption

• Assist MEF in developing Green Taxonomy Action Plan that outlines the necessary steps, budget, and involved actors for the full rollout and widespread adoption of Paraguay’s Green Taxonomy.

• Integrate stakeholder feedback to the Green Taxonomy Action Plan

 5. The Sustainable Finance Consultant will also support the broader delivery of sustainable finance components of the project, including but not limited to:

• Development of sustainable financial and capital-market products that promote inclusive and sustainable economic activities, in alignment with national development priorities.

• Development of Paraguay’s GCF Country Program, with a focus on defining the climate finance strategy, identifying and prioritizing key investment areas, and contributing to the early-stage design of mitigation and adaptation projects.

• Preparation and delivery of GCF capacity-building materials, including tailored training on the GCF investment cycle, access modalities, funding windows, and evaluation criteria.

• Support to AFD’s GCF accreditation process, particularly in developing a pipeline of eligible projects and drafting concept notes aligned with GCF requirements.

• Input into the Paraguay National Development Plan 2050, especially regarding the integration of sustainable finance mechanisms, instruments, and enabling policies.

• Design and support for a climate finance MRV system, including tracking methodologies, data sources, and institutional responsibilities for climate finance flows.

• Bachelor’s degree in economics, finance, business administration, or related fields relevant fields.

• Advanced degree in sustainability, international development, finance or related field.

• At least 7 years of professional experience in the design and structuring of sustainable finance instruments and policies, with proven knowledge of financial products that foster sustainable and inclusive productive transformation.

• Professional experience working with the public or private sustainable development sector will be valued.

• Strong understanding of sustainable finance instruments.

• Fluency in Spanish and English is required. 

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. 

The consultant will be required to work from the premises of the MEF as instructed by the DGCID.

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.