Senior Infrastructure Finance Specialist
World Bank (World Bank)
Location: Washington (United States)
Grade: GG, Mid-level Professional
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Added 1 month ago
Closed on 13 Mar 2020
Job Description

Description

Established in 1944, the WBG is one of the world’s largest sources of funding and knowledge for development solutions. In fiscal year 2018, the WBG committed $67 billion in loans, grants, equity investments and guarantees to its members and private businesses, of which $24 billion was concessional finance to its poorest members. It is governed by 188-member countries and delivers services out of 120 offices with nearly 15,000 staff located globally.

The WBG consists of five specialized institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for the Settlement of Investment Disputes (ICSID). The World Bank is organized into six client-facing Regional Vice-Presidencies, several corporate functions and thirteen Global Practices to bring best-in-class knowledge and solutions to regional and country clients.

he Infrastructure Practice Group is charged with developing sustainable solutions to help close infrastructure gaps in developing and emerging economies. It comprises Energy and Extractives (EEX), Transport, Digital Development, and Infrastructure Finance, Public Private Partnerships and Guarantees (IPG). The World Bank’s active portfolio in Infrastructure consists of 400 operations, implemented by a workforce of over 700 staff in headquarters and 82 country offices. The core values guiding our work include our passion for sustainable poverty reduction, our willingness to put the needs of the client at the center of all our activities, and our honesty and integrity as a common currency.

IPG Group: Overview
The Infrastructure Finance, PPPs & Guarantees Group (IPG) brings together the World Bank’s cross-sector infrastructure finance, PPP structuring, and analytics skills, as well as the Trust Funds and Financial Intermediaries that support those areas of development across the WBG. With these human and funding resources, IPG helps WBG teams and client countries improve the quality and affordability of service delivery through sound infrastructure policies and investment programs; strong enabling environments; and bankable projects. We build our support around knowledge, tools, and experience that support informed choices on the role and value of the private sector in financing and delivering infrastructure, while deploying financial structures and instruments that sustainably manage, mitigate and reduce risk.

IPG provides support, in collaboration with the World Bank Global Practices, IFC and MIGA, across the infrastructure investment cycle:
• Upstream, through advice on strategic prioritization and planning for infrastructure investment programs, support for policy and regulatory strengthening, and institutional capacity building;
• Midstream through project identification, preparation, and structuring, including analysis of the most appropriate contracting and financing modes; and
• Downstream by structuring alternative options to public finance and by deploying financial instruments of the WB, including WB Guarantees to that end, while ensuring financial and technical sustainability of appropriate financial solutions.

The IPG Group consists of the following two units:
• Financial Structuring & PPPs (FSP), which manages IPG’s country client-facing work across the infrastructure investment cycle; and
• Infrastructure Programs and Analytics (IPA), which brings together IPG’s infrastructure knowledge and analytics team with its three global programs—Global Infrastructure Facility (GIF), Public-Private Infrastructure Facility (PPIAF), and the Quality Infrastructure Investment Partnership (QII)—and which spearheads IPG’s global engagement and thought leadership on themes related to infrastructure finance, both internally and externally. IPA includes a small team of staff focused on operationalizing the WB’s goal to maximize finance for development.

The Infrastructure Programs and Analytics (IPA) Unit has staffed based in Washington DC, in Singapore at the World Bank’s Infrastructure and Urban Development Hub, and in World Bank country offices in Dakar, Nairobi, and Tokyo.

Global Infrastructure Facility (GIF)

The Global Infrastructure Facility (GIF) was created in 2015 as a G20 initiative. The GIF’s overarching goal of increasing private sector infrastructure investment in emerging markets and developing economies (EMDEs) is predicated on two objectives: (1) bringing to market bankable, quality infrastructure programs and projects in EMDEs and (2) expanding the market for private infrastructure finance in EMDEs. Through its upstream advisory window, the GIF tackles head-on the dearth of bankable, sustainable infrastructure pipelines in EMDEs through the provision of end-to-end transaction advisory services to governments, including both funding and technical expertise of the GIF team. To complement its upstream advisory window, the GIF is designing a downstream financing window to provide a tailored suite of risk mitigation products to mobilise greater levels of private investment in developing country infrastructure. The GIF is a financial intermediary fund housed at the World Bank, the GIF is a partnership program that works with multilateral development banks that are the GIF’s Technical Partners.

In addition to providing advisory services and the downstream financing window under development, the GIF’s global collaboration platform integrates efforts to boost private investment in EMDE infrastructure and enables collective action among a wide range of partners – donors, development finance institutions, EMDE governments, and infrastructure-related initiatives and associations as well as private sector investors and lenders (Advisory Partners). As a global collaboration platform, the GIF draws on its partners and hosts knowledge-sharing fora that hone in on best practices, lessons learnt, and other topics germane to EMDE infrastructure, as well as showcase deep dives into different EMDE markets and infrastructure sub-sectors. The GIF Management Unit is responsible for assessing the technical support needs of projects/programs, recommending on the allocation of the resources of the GIF, and functioning as a coordinating body. The Management Unit is comprised of a relatively small, high-level team, currently close to 15 technical staff based in Washington, DC, Singapore and Tokyo. Although the GIF does not lead operations, the Facility staff have a mix of project finance, infrastructure economics, regulatory and sectoral skills and work with governments and technical partners to identify gaps, financial and regulatory needs for investments, assess project risks, and leverage the role of advisory partners. For more information about GIF please visit http://www.globalinfrafacility.org/

GIF Management Unit Responsibilities

The staff of the GIF Management Unit (MU) undertake the following core responsibilities:

• Pipeline Development and Project Preparation— The MU works with the GIF’s Technical Partners, and in response to country requests, to identify and develop a pipeline of qualifying infrastructure programs and projects, evaluating needs in project preparation, transaction support and financial structuring and assessing market-readiness, government commitment and project feasibility. Technical Partner teams, which lead GIF-funded activities, are supported by GIF staff specializing in PPP design, technical and financial feasibility assessment, and regulation of infrastructure.
• Financial and Risk Instruments—The team will be responsible for support in the development of appropriate project structures with a view to attracting private sector investment, and optimizing the mix of financial instruments to ensure public sector objectives are met without undue burden to the governmental balance sheet. This may involve developing and operationalizing the GIF downstream credit enhancement window. The work will be led by specialists with experience in financial structuring of complex PPPs, and in the credit enhancement and combination of financial instruments required to bring such PPPs to financial close.
• Partnership Coordination and Trust Fund Management — The MU is responsible for coordinating relations with the GIF’s Funding, Technical and Advisory Partners; managing the resources of the GIF; planning, implementing and reporting on uses of funds; developing and adjusting the business plans and operating procedures according to the evolving needs of the Governing Council; and responding to the audit and information requests of the Governing Council.
• Quality Assurance and PPP Knowledge —The MU is also responsible for assuring that best practices and latest approaches on PPP design are applied to each GIF project, and that the lessons learned from GIF approaches at both the platform and project level are captured, returned to the GIF and broadly disseminated. On the knowledge side, the MU also organizes regular convocations of Advisory Partners around core themes related to the financing of infrastructure, leads efforts related to the development of PPP pipelines, and undertakes highly-targeted analytical work related to the development of infrastructure as an asset class.

Duties and Accountabilities:

• Lead pipeline development and origination efforts for at least one region by developing deep relationships with the GIF’s Technical Partners. This will include initial project screening, application preparation and relationship management.
• Lead the development and potential launching of the GIF downstream financing window, as needed, that aims to provide complementary and targeted risk mitigation instruments in collaboration with GIF Technical Partners.
• Recommend and structure credit enhancement products to enable provision of sustainable and affordable commercial financing solutions as needed.
• Be an integral part of the implementation teams assembled by the Technical Partners to deliver project preparation and structuring advice provided to client governments through GIF funding. For this purpose, the candidate should be a recognized PPP, project finance and/or sector specialist or expert.
• Work across the GIF responsibilities described above and in particular, assuring that best practices and latest approaches on PPP design are applied to each GIF project, and that lessons learned from GIF approaches at the platform and project levels are captured, returned to the GIF and made widely available.
• Overall responsibilities for assigned regions for origination, implementation and quality control; Mentor and coach junior staff.
• Serve as an interlocutor with counterparts from IFC, the World Bank Global Practices, other GIF Technical Partners, and public and private sector partners as projects are assessed for their needs and support activities are defined.
• Contribute to the monitoring and evaluation of the GIF program.
• Contribute to the planning, structuring and execution of the regular convocations of the GIF’s private sector Advisory Partners around core themes related to global infrastructure finance.
• Undertake knowledge and analytical work related to expanding the markets for global infrastructure financing

Selection Criteria

• Master’s degree or equivalent in finance, economics, engineering, management, policy or a related field.
• A minimum of eight years of relevant experience in the fields of infrastructure project development, structuring, project finance, syndications and credit enhancement instruments.
• Infrastructure project preparation, structuring, project financing with one of the major project finance banks, MDBs or consulting firms is desirable. Substantial experience in more than one subsector of infrastructure covering more than one region geographically.
• Track record of achievements in collaboration with MDBs and other development partners in the field of infrastructure project structuring, financing, guarantees/credit enhancement instruments.
• Track record of leading projects to reach commercial and financial closings, including using risk and credit enhancement instruments; experience in capital market issuance, letters of credit, swaps and currency hedges, inter-creditor issues would be an advantage.
• Recognized by peers and/or managers for providing high quality, pragmatic advice to clients on infrastructure PPPs and/or making significant contributions to analytical work and knowledge products in those fields.
• Client focus and commitment to results.
• High level written and oral presentation skills in English. Proficiency in French or Spanish strongly desirable.
• Women from developing countries are particularly encouraged to apply.

Required Competences
• Infrastructure project preparation, structuring, and financing – Expert knowledge and experience of project preparation, structuring and financing; able to identify project risks and propose appropriate mitigants, understands most options for preparing and financing infrastructure projects, determines and advises clients on optimal approaches and navigates to closure.
• Knowledge and Experience in Development Arena - Translates technical and cross-country knowledge into practical applications and contributions to country and sector strategies; interacts with clients at the policy level.
• Infrastructure PPP and Policy Dialogue Skills -- Solid knowledge of a wide range of Public-Private Partnerships alternatives; can propose solutions to most infrastructure sector financing business model needs; Anticipates needs and requests in the field and conducts independent discussions with representatives of the government and other partners.
• Integrative Skills -- Understands relevant cross-sectoral areas how they are interrelated; able to undertake cross-sectoral work in lending and non-lending operations.
• Lead and Innovate -- Develops innovative solutions with others.
• Deliver Results for Clients -- Achieves results and identifies mission-driven solutions for the client. Collaborate Within Teams and Across Boundaries- Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.
• Collaborate Within Teams and Across Boundaries -- Initiates collaboration across boundaries and broadly across WBG, and brings differing ideas into the forefront.
• Create, Apply and Share Knowledge -- Creates, applies and shares knowledge from across and outside WBG to strengthen internal and/or external client solutions.
• Make Smart Decisions -- Recommends and takes decisive action.

Poverty has no borders, neither does excellence. We succeed because of our differences and we continuously search for qualified individuals with diverse backgrounds from around the globe.

About World Bank

With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

World Bank's mission is to end extreme poverty by reducing the share of the global population that lives in extreme poverty to 3 percent by 2030, and to promote shared prosperity by increasing the incomes of the poorest 40 percent of people in every country.