Please note that the deadline is based on Korean Standard Time Zone (KST, UTC+9)
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.
The Fiji Development Bank (FDB) is committed to supporting Fiji's transition towards a sustainable, low-carbon, and climate-resilient economy. Recognising the urgent need to address climate change and its associated impacts, FDB is enhancing its financial products to support electric mobility, renewable energy, and climate change adaptation initiatives. These enhancements are designed to expand access to financing for climate-aligned projects, with a particular focus on 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 across key sectors.
FDB's strategic goal is to align its financing products with national development priorities and 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 prioritise inclusivity, ensuring clear eligibility criteria that expand access to finance for vulnerable groups, including women, marginalised 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. Hence, the consultant will work as an integral member of the delivery team, building directly on the FDB Climate Finance Strategy enhancements and the product frameworks under development for electric mobility, renewable energy, and adaptation loans.
The market demand figures, pipeline data, and pricing assumptions generated by the other consultants will inform this assignment's financing demand analysis, treasury pricing model, and resource mobilisation roadshow. Conversely, the risk management tools, funding leads, and concessional capital structures will be looped back to the updated strategy to ensure each new loan product launches with a fully costed, FX-hedged funding plan.
Ultimately, FDB aims to establish itself as a leading institution in sustainable finance through market studies, alignment with national priorities, and the development of financially viable products, thereby driving real progress toward Fiji's environmental goals and supporting a more inclusive, climate-resilient economy.
The primary objective of this assignment is to develop risk management plans to strengthen the FDB's ability to manage foreign exchange (FX) risks in mobilized climate finance. Thus, the consultant will design financial models and implement foreign exchange (FX) risk mitigation strategies to ensure the sustainability of climate-aligned investments. This plan will enhance the FDB's financial resilience and provide structured risk management frameworks that support long-term institutional sustainability.
Specifically, the objectives include:
FDB, in collaboration with its development partners, intends to recruit a highly specialised consultant with expertise in treasury, foreign exchange risk management, financial pricing models, and climate finance to develop a Risk Management Plan that supports FDB's climate finance expansion. The consultant will report to FDB’s Manager of Climate and Eco Finance (CEF) and collaborate with Senior Economists and Investment Officers from FDB, GGGI, and its development partners. The consultant must also regularly engage with FDB's policy, Treasury, credit risk, enterprise risk management, and sales teams.
Furthermore, the consultant will conduct weekly progress meetings with FDB's Climate and Eco Finance team and GGGI, providing updates on the pricing model, FX risk management strategy, and financial structuring recommendations. The consultant will also work closely with the Reserve Bank of Fiji (RBF), locally licensed Fijian Commercial Banks, and international partners such as TCX and GCF to ensure FX risk mitigation strategies align with Fiji's financial landscape and global best practices.
Task: Identify financial, operational, and policy risks, including but not limited to FX mismatch, interest-rate volatility, counterparty default, and regulatory exposure, and propose mitigation tools. These tools can include (but are not limited to) natural hedges, swaps, guarantee layers, and Treasury policy buffers.
Deliverable: Develop a Risk Management Plan with a detailed risk register, mitigation toolkit, and recommended amendments to FDB’s Treasury Policy on FX exposure, currency diversification, and liquidity thresholds.
Expected Output: An FX Risk Management Plan comprising a risk register, mitigation toolkit, and draft Treasury Policy amendments.
Task: Design an FX risk-adjusted pricing model for FDB’s climate-aligned loan products. Incorporate concessional finance terms, cost-of-funds scenarios, interest-rate simulations, and liquidity margins.
Deliverable: Develop and submit a Treasury Pricing Model that integrates FX exposure, donor financing terms, and internal cost structures.
Expected Output: A functional pricing model calibrated for FX volatility, suitable for use in Treasury’s loan pricing and liquidity planning.
Task: Evaluate the feasibility of hedged local currency financing in partnership with TCX, commercial banks, and other stakeholders. Identify instruments such as local swaps, forward cover, and indexed lending.
Deliverable: Prepare a strategic note analysing options for local currency finance and hedging integration into FDB’s Treasury functions. Include eligibility, transaction cost, and precedent deals.
Expected Output: Strategic roadmap for FDB’s adoption of local currency instruments with recommendations for institutionalisation.
Task: Facilitate validation sessions with RBF, TCX, local banks, and donors to assess the viability and acceptance of the proposed FX mitigation approach.
Deliverable: Draft and submit a Consultation Summary capturing technical feedback, risks flagged by stakeholders, and areas of consensus for the proposed framework.
Expected Output: Stakeholder-endorsed consultation note with action points to refine FDB’s FX risk policy.
Task: Consolidate all outputs and present a final FX Risk Management Framework to FDB senior management and the Board for endorsement. Incorporate board feedback and revise the Treasury Policy accordingly.
Deliverable: Final package containing FX Risk Management Plan, Pricing Model, Strategic Note, Consultation Report, and Board Presentation Slides.
Expected Output: Fully endorsed FX strategy integrated into FDB’s Treasury policies and operational lending framework.
| Deliverable | Description | Payment | Completion Date |
| FX Risk Management Strategy Report | Comprehensive framework outlining FX risk mitigation strategies, developed in consultation with RBF and commercial banks, ensuring integration of risk management tools into FDB's treasury policies. | 20 | October 2025 |
| Treasury Pricing Model for Climate Loan Products | Treasury pricing model document incorporating FX risk-adjusted loan pricing, concessional finance considerations, and structured cost-of-funds analysis for FDB's climate lending framework. | 25 | November 2025 |
| Local Currency Financing Strategy | A report detailing the feasibility of hedging strategies and local currency financing policies for FDB. This will include recommendations for integrating local currency solutions into FDB's climate finance portfolio. | 25 | December 2025 |
| FX Risk Strategy Consultation and Final Board-Approved Financing and Risk Management Plans |
| 30 | January 2026 |
The consultant will be responsible for arranging their own travel from their home country to Suva, Fiji, and for covering all associated costs. This includes, but is not limited to, airfare, accommodation, ground transportation, and daily expenses, as required for the successful completion of the assignment.
The description of the required expert may be split into the following parts:
The Consultant will operate under the guidance of the GGGI Senior Economist, who will act as the primary focal point for this assignment. The Consultant will collaborate closely with the GPFS program team to align the program’s objectives and priorities. Regular progress updates will be conducted through meetings, where the Consultant will provide detailed reports on the status of activities, challenges encountered, and proposed solutions.
Duty Station: Suva, Fiji
Contract Duration: October 2025 – January 2026
Total Fees: USD 20,000
Consultant Level: Level 3
Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.
