REQUEST FOR EXPRESSIONS OF INTEREST

FOR AN INDIVIDUAL CONSULTANT

AFRICAN DEVELOPMENT BANK GROUP

Rue Joseph Anoma, 01 BP 1387

Abidjan 01, Cote d’Ivoire

Client Solutions Division

Syndication, Co-financing and Client Solutions Department

Finance Vice Presidency

The African Development Bank (the “Bank”) hereby invites Individual Consultants to indicate their interest in the following Assignment : Individual Consultant to Support in Setting up and  Running of the “Innovative Finance Platform for Africa (IFPA)”

Islamic finance has the potential to foster investment and infrastructure, and thus, to support strategies for raising economic growth and diversification. Islamic finance can be a strong and non-traditional source of financing to achieve the African Development Bank ‘High Fives’ objectives. Islamic finance has a footprint in Asia and Middle East; and is ripe for growth in Europe and Africa. Given its emphasis on risk-sharing, linkages to real economic activities, partnership-based and equity-focused approaches, widened geographic reach and the rapid expansion of its global assets in Muslim and non-Muslim countries, Islamic finance could serve as a potent tool for mobilizing as yet untapped sources of liquidity to finance the ‘High Fives’.

As the premier African Development Financial Institution, AfDB intends to play an active role in mobilizing Islamic Finance to achieve the objectives of the Bank’s ‘High Fives’ strategic priorities.

Achieving these priorities is partly contingent on the Islamic finance industry’s ability to harness public and private sector investments, in particular for Infrastructure projects. Indeed, the Bank’s strategic priorities in African countries will require enlarging the investor base and diversifying sources of funding. Islamic investors from the Middle East and South-East Asia are showing more interest in Africa and an important pool of resources can be harnessed, as demonstrated by the recent sukuk issuance by African countries. In order to achieve such objective, there is a need to set up a fully dedicated platform that will bring all the efforts together under one roof.

The Assignment will entail working with the Syndication and Co-financing Division of the Syndication Cofinancing and Client Solutions Department to investigate the feasibility of tapping into international Islamic financing liquidity pools as an option for Africa and include in the inception report (this should include details of demand/projects requiring Islamic financing in Africa) and also produce a comprehensive approach paper for establishing the IFPA, based on extensive consultation with the Bank’s departments and key staff. The Consultant is also expecte

to prepare a policy framework document and all other documents required to fulfill the Bank’s approval process for such initiatives, work closely with key staff to build-up a robust pipeline of projects eligible to the support of the IFPA and contribute to the resource mobilization effort with the key partners for the funding of the IFPA.

The Consultant will report to the Division Manager, Syndication and Co-financing. Key deliverables will include but not limited to:

• An Inception report including the final scoping of the assignment, a work plan for the completion of the assignment and a summary of the main findings after preliminary discussions with key market players; the inception report should include details of demand and supply.
• An Islamic finance policy framework/guidelines which should include procedure for establishing the IFPA, compliant with the Bank’s template, and describing the scope, governance and guidelines of the programme;
• A robust pipeline of projects, eligible to such programme;
• A report on resources mobilization with the key partners;
• Terms of reference of the key team members for the management of the IFPA.

The Consultant will prepare an inception report within one month of the start of the assignment indicating the timeline for deliverables. The report will also describe requirements and make recommendations for performing the assignment. Additionally, the Consultant will provide a monthly report of activities undertaken and a report on activities undertaken at the end of the contract.

The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Bank’s Rules and Procedure for Corporate Consultants. Please, note that interest expressed by a Consultant does not imply any obligation on the part of the Bank to include him/her in the shortlist. The selection criteria will be primarily based on the evaluation of the submission of a curriculum vitae in either English or French, and the relevant experience in undertaking similar activities to the Assignment above. The candidate may be invited to a telephone or in-person interview.

Qualifications and Experience required :

• At least a master degree in Economics, Finance or a related field with strong knowledge in Islamic finance ;
• A minimum of 7 years of relevant working experience including experience structuring and executing Islamic financing solutions ;
• Experience in a similar environment such as corporate banking, development banking, investment banking, structuring ;
• Experience with resource mobilization with Development Partners and other types of Partners ;
• First-hand knowledge of financial instruments and techniques ;
• Good knowledge of the Islamic finance market and players ;
• Understanding of the Bank’s policies, strategy and objectives ;
• Track record of structuring and executing capital markets, Islamic financing solutions – provide details of executed transactions and parties to the transactions ;
• Proven ability to acquire new skills (particularly in legal, investment, risk capital, technology and innovative sectors) ;
• Communicate and write effectively in French and/or English, with a good working knowledge of the other language.

The Bank offers a salary on a scale, strictly related to the consultant’s level of experience and area of expertise. The consultant will be remunerated through a lump sum (including fees, accommodation and subsistence allowances). Travel ticket shall be paid by the Bank in accordance with its Travel policy. The candidate will be responsible for obtaining personal health insurance at his or her own cost. The coverage should include all medical expenses, including those resulting from illness or injury incurred during the duration of the assignment.

Individual Consultants are hereby invited to indicate their interest in providing the above-described services. Interested Consultants shall provide information on their qualifications and experience demonstrating their ability to undertake this Assignment (documents, reference to similar services, experience in similar assignments, etc.).

The estimated duration of services is 6 months (with the possibility to renew the contract for another six (6) months depending on performance and the Bank’s needs). The estimated starting date is April 10^th, 2019 at the Bank’s headquarters in Abidjan, Cote d’Ivoire.

Interested Individual Consultants may obtain further information and clarifications from m.b.gueye@afdb.org.

Expressions of interest must be submitted to: Syndication and Co-financing Division, Email: to

Mbaye GUEYE, Email: m.b.gueye@afdb.org and must be received no later than March 29^th, 2019 at 17:00 Abidjan time and specifically mentioning Individual Consultant to Support in Setting up and Running of the “Innovative Finance Platform For Africa (IFPA).