Background

Tier 1: UNDP/ UNCDF/ UNV staff holding permanent (PA) and fixed term (FTA) appointments (defined as “internal” candidates).

Tier 2: UNDP/ UNCDF/ UNV staff holding temporary appointments (TA) and personnel on regular PSA contracts.

Tier 3: All other contract types from UNDP/UNCDF/UNV and other agencies, and other external candidates.

General Assembly Resolution 2186 (XXI) decided to “bring into operations the United Nations Capital Development Fund as an organ of the General Assembly which shall function as an autonomous organization of the United Nations. The UN Capital Development Fund (UNCDF) assists developing countries, especially least developing countries, in the development of their economies by supplementing existing sources of capital assistance by means of grants, loans, and guarantees. UNCDFs vision is to help mobilize and catalyze an increase of capital flows for SDG impactful investments to Member States to address the most pressing development challenges facing vulnerable communities in these countries and thereby contribute to sustainable economic growth and equitable prosperity.

As a Flagship Catalytic Blended Financing platform of the UN, UNCDF utilizes its unique capability in the UN system to deploy grants, loans and guarantees to crowd-in finance for the scaling of development impact. UNCDF focuses on where the needs are greatest, a deliberate focus and capability rooted in UNCDF’s unique investment mandate to support the achievement of the 2030 Agenda for Sustainable Development and the realization of the Doha Programme of Action for the least developed countries, 2022–2031.

As per its Strategic Framework, UNCDF works to deploy its functions as a hybrid development organization and development finance institution. UNCDF responds to Member States requests for assistance by providing targeted technical and financial advisory services on investments for development outcomes, designing bespoke financial structuring solutions, undertaking financial derisking of investments, and enhancing investment readiness of SDG aligned projects in partnership with private sector, UNOs, International and Local Finance Institutions, Development Finance Institutions as well as Foundations and Philanthropy, among others. UNCDF works to develop local financial systems, new markets and mobilize and crowd in capital from public and private sources. UNCDF is driven by a partnership mindset which enables it to deploy its different capital capabilities in highly tailored and responsive ways in order to mobilize investments flows from other sources, in particular from the private sector.  By structuring transactions which are highly impactful, but also recognize the need for multiplying the impact of its own capital, UNCDF seeks to position itself as a preferred partner for different stakeholders.  UNCDF’s work is focused on three priority areas, including:

• SME Finance
• Sub-National Finance
• Digital Finance

UNCDF’s organizational set up includes an Investment and Implementation Division (IID), Investment and Finance Oversight Division (IFOD), Operations and Oversight Division (OOD) and a Directorate of the Executive Office. UNCDF staff and personnel are located in regional hubs based in Dakar (Senegal), Nairobi (Kenya) and Bangkok (Thailand) with sub-regional presence in a number of locations in the Caribbean and Pacific Regions. UNCDF is led by an Executive Secretary based out of New York, USA. Pursuant to General Assembly resolution 2321(XXII, para 1.a), the Administrator of the UNDP performs the function of the Managing Director of UNCDF. UNCDF is overseen by an Executive Board comprised of UN Member States.

Position Purpose

Under its new Strategic Framework (2026–2029), UNCDF is expanding its focus on subnational finance by developing and testing comprehensive financial derisking models that integrate fiscal reform, access to capital markets, climate and thematic finance, and project pipeline development. Within this framework, UNCDF is particularly focusing on scaling up partnerships with and support to National Development Banks (NDBs) to unlock domestic finance for development. National Development Banks (NDBs) are increasingly recognized as critical enablers of climate-aligned and SDG-compatible investment, particularly at the subnational level. They are uniquely positioned to bridge the financing gap between national and local levels. They can channel concessional finance to municipalities, particularly in contexts where subnational borrowing is legally or fiscally constrained.

However, many NDBs in LDCs lack the institutional capacity, capital structuring tools, and accreditation to access vertical climate funds or deploy blended finance effectively. UNCDF’s role is to support these institutions through:

• Capital instruments such as guarantees, concessional loans, and first-loss tranches;
• Technical assistance for project appraisal, risk management, and pipeline development;
• Support for local currency financing to reduce foreign exchange risk and enhance fiscal sustainability.

This work is aligned with the Financing for Development (FfD) agenda and the Doha Programme of Action (DPoA), which call for systemic reforms to mobilize long-term, predictable, and diversified financing for sustainable infrastructure and local development. By enabling NDBs and subnational governments to become empowered financial actors, UNCDF contributes to building resilient, inclusive, and climate-aligned investment ecosystems in the world’s most vulnerable countries.

UNCDF aims to develop and operationalize a coherent strategy for UNCDF’s engagement with NDBs that:

• Aligns with UNCDF’s climate finance and subnational finance mandates;
• Leverages UNCDF’s ability to deploy first-loss and blended capital;
• Supports NDBs in becoming effective channels for local climate investment;
• Contributes to the broader UNCDF agenda on local infrastructure finance and fiscal decentralization.

UNCDF seeks a Catalyzing Local Finance Specialist to provide advisory and technical support for engagement with the NDBs focusing on Direct Access to deploy and implement climate finance and broader sub-national finance for SDG-aligned investments. Reporting to the Chief Investment Officer (Investment and Implementation Division) and coordinating closely with regional-based advisors in the Investment and Finance Oversight Division (IFOD), the Catalyzing Local Finance Specialist will work closely with UNCDF country and region-based teams, and UNCDF HQ to identify, map, and develop NDB partnerships and engagement, support pipeline development and joint programming with the NDBs, assist in Direct Access including with the Climate and Environment multilateral and vertical funds, and advance blended finance projects and investments that crowd in private sector finance for development priorities.

UNCDF adopts a portfolio approach to accommodate changing business needs and leverage linkages cross interventions to achieve its strategic goals. This is a recognition of the interconnected nature of development risks & crises that the world is facing and that calls for assembling of multidisciplinary teams for an integrated & systemic response. Therefore, UNCDF personnel are expected to work across issues, units, functions, teams and projects in multidisciplinary teams to enhance and enable horizontal collaboration.

Duties and Responsibilities

1) Provision of Strategic Positioning and Partnership Development Support:

• Maps NDBs in UNCDF priority countries and assess their institutional and operational to support climate finance and subnational investments. 
• Develops a typology of NDB-UNCDF partnership models, including for co-financing, ring-fenced guarantee facilities, technical assistance packages, and blended structures. 
• Identifies opportunities for joint programming with MDBs, DFIs, and vertical funds (e.g., GCF, AF) to align capital deployment strategies with local investment needs.
• Develops a strategic framework for UNCDF-NDB engagement, including partnership models and value proposition.

2) Enablement of Climate Finance and Direct Access.

• Provides technical advisory support to NDBs on compliance with fiduciary standards, and environmental, and social safeguards for direct access accreditation.
• Supports the design of climate finance instruments (e.g., green credit lines, performance-based grants) tailored to NDB mandates and capacities.
• Advises on structuring blended finance solutions that leverage UNCDF’s capital deployment capabilities to de-risk NDB portfolios.

3) Provision of Pipeline Development and Investment Readiness Support.

• Identifies and structures project pipelines aligned with local priorities, including sustainable infrastructure, energy, water, digital, and climate-resilient services.
• Supports municipalities, National Development Banks, and other actors in preparing feasibility studies, financial models, and investment memoranda.
• Provides technical guidance for accessing vertical and thematic funds, including development of concept notes and funding proposals for the GCF, AF, or other facilities.
• Identifies mechanisms for matching grant funding with concessional or commercial capital.

4) Facilitate Subnational Finance Integration and Knowledge Management.

• Aligns NDB engagement with UNCDF’s subnational finance strategy, including: enhancing subnational access to debt and blended finance; Supporting pooled financing mechanisms and regional cooperation; and strengthening municipal financial management and creditworthiness.
• Facilitates integration of local finance instruments (e.g., PBCRGs, LoCAL) to support upstream pipeline development and to structure transactions that can be ring-fenced into NDB financing windows.
• Develops guidance notes and toolkits for UNCDF country teams and NDB partners.
• Facilitates peer learning and knowledge exchange between NDBs and UNCDF technical teams.
• Contributes to UNCDF’s thought leadership on NDBs, climate finance, and subnational investment.

The incumbent performs other duties within their functional profile as deemed necessary for the efficient functioning of the Office and the Organization.

Supervisory/Managerial Responsibilities: Supervision, development and performance management of IPSAs and technical experts.

Competencies

Achieve Results: LEVEL 3

• Set and align challenging, achievable objectives for multiple projects, have lasting impact

Think Innovatively: LEVEL 3

• Proactively mitigate potential risks, develop new ideas to solve complex problems

Learn Continuously: LEVEL 3

• Create and act on opportunities to expand horizons, diversify experiences

Adapt with Agility: LEVEL 3

• Proactively initiate and champion change, manage multiple competing demands

Act with Determination: LEVEL 3

• Think beyond immediate task/barriers and take action to achieve greater results

Engage and Partner: LEVEL 3

• Political savvy, navigate complex landscape, champion inter-agency collaboration

Enable Diversity and Inclusion: LEVEL 3

• Appreciate benefits of diverse workforce and champion inclusivity

People Management

UNDP People Management Competencies can be found in the dedicated site.

Cross-Functional & Technical competencies:

Business Direction & Strategy: System Thinking

• Ability to use objective problem analysis and judgement to understand how interrelated elements coexist within an overall process or system, and to consider how altering one element can impact on other parts of the system

Business Management: Portfolio Management

• Ability to select, prioritise and control the organization's programmes and projects in line with its strategic objectives and capacity Ability to balance the implementation of change initiatives with regular activities for optimal return on investment. 
  Knowledge and understanding of key principles of project, programme, and portfolio management

Business Direction & Strategy: Strategic Thinking

• Develop effective strategies and prioritised plans in line with UNDP’s mission and objectives, based on the systemic analysis of challenges, opportunities and potential risks; link the general vision to reality on the ground to create tangible targeted solutions; learn from a variety of sources to anticipate and effectively respond to both current and future trends; demonstrate foresight.

Business Direction & Strategy: Futures and Foresight

• Ability to look at information from the past and present, identify patterns and trends and use them to inform decision making with a long-term view. Being sensitive and able to scan horizons and pick up weak signals of change, explore their potential implications and assess their impact and urgency. Using creativity and imagination to communicate insights in compelling and engaging ways to challenge current mental models; ability to develop scenarios, speculative designs to present future visions or by making it experiential. Being able to facilitate debate and discussion about possible futures; help people to feel comfortable with the discomfort of uncertainty.

Business Development: Knowledge Generation    

• Ability to research information and to turn it into useful knowledge, relevant for context, or responsive to a stated need. Ability to apply existing concepts to new situations, and to develop new concepts to generate workable solutions and new approaches. Knowledge of relevant concepts, conceptual models, and theories that can be useful in addressing new situations.

Partnership Management: Relationship Management    

• Ability to engage with a wide range of public and private partners, build, sustain and/or strengthen working relations, trust and mutual understanding.

Partnership Management: Strategic Engagement

• Ability to capture and sustain attention, interest and agreement of high-level, influential policy and decision makers and secure their buy-in of high-level vision and objectives.

Required Skills and Experience

Education:

• Advanced university degree (master’s degree or equivalent) in Economics, Public Finance, Development Finance, or related field is required.
  OR
• A first-level university degree (bachelor’s degree) in the areas mentioned above, in combination with an additional two years of qualifying experience will be given due consideration in lieu of the advanced university degree.

Experience:

• A minimum of 7 years (with a master’s degree) or 9 years (with a bachelor’s degree) of progressively responsible experience in securing sustainability finance including, but not limited to, global trust funds and facilities specialized in green finance and/or climate finance is required.
• Experience in supporting capacity development of, and pipeline development for, national development banks to access and deploy sustainable finance including for energy, climate, water and agriculture related investments is required.
• Experience working in the private or financial sector to advance sustainability strategies and blended finance solutions is required.
• Demonstrated experience working across the financial ecosystem on enterprise development and innovation for financial inclusion for MSMEs is desired.
• Experience in digital and data platforms to enhance access to sustainable finance for financial intermediaries and/or MSMEs is desired.
• Demonstrated experience in developing strategic alliances, partnerships between private sector, UNOs and Government on development and climate finance is desired.
• Prior work experience in working with the private sector in business development is desired.
• Experience in project and portfolio management including client management is desired.
• Cross-functional experience across strategy, operations, resource and financial management is desired.

Language Requirements:

• Fluency in English is required.
• Proficiency in French, Spanish, or Arabic is desirable.

Equal opportunity

As an equal opportunity employer, UNDP values diversity as an expression of the multiplicity of nations and cultures where we operate and, as such, we encourage qualified applicants from all backgrounds to apply for roles in the organization. Our employment decisions are based on merit and suitability for the role, without discrimination. 

UNDP is also committed to creating an inclusive workplace where all personnel are empowered to contribute to our mission, are valued, can thrive, and benefit from career opportunities that are open to all.

Sexual harassment, exploitation, and abuse of authority

UNDP does not tolerate harassment, sexual harassment, exploitation, discrimination and abuse of authority. All selected candidates, therefore, undergo relevant checks and are expected to adhere to the respective standards and principles. 

Right to select multiple candidates

UNDP reserves the right to select one or more candidates from this vacancy announcement.  We may also retain applications and consider candidates applying to this post for other similar positions with UNDP at the same grade level and with similar job description, experience and educational requirements.

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