A. BACKGROUND

Mongolia has received a credit from the International Development Association (IDA) for the Strengthening Fiscal and Financial Stability Project (SFFSP). The Objective of the SFFS Project is to contribute to the Government of Mongolia’s efforts to strengthen fiscal and financial stability and improve the quality of expenditure. The project is designed into five components: (I) Strengthening Macroeconomic and Fiscal Management; (II) Improving the Efficiency of Public Financial Management; (III) Enhancing Financial Sector Stability; (IV) Strengthening the Social Protection System; (V) Project Management and Monitoring. The objectives are to: Strengthening fiscal responsibility and implementing relevant policy measures, improving fiscal discipline, strengthening the resiliency of the banking system, improving public expenditure quality in social protection, providing support for Project implementation, coordination, monitoring and evaluation, including, inter alia, audit arrangements, reporting requirements, procurement and financial management activities respectively. For more details, please refer to the Project Appraisal Document Report No. PAD2269 .

Mongolia joined the United Nations Framework Convention on Climate Change (UNFCCC) in 1993, the Kyoto Protocol in 1999, and the Paris Agreement on Climate Change in 2016. As a non-Annex I Party, Mongolia is not obligated to reduce its greenhouse gas emissions under the regulations of the Kyoto Protocol, but under the Paris Agreement, Mongolia has a target to reduce its greenhouse gas emissions by 14% by 2030 as compared to 2010 business as-usual-scenario. 

Climate change is a global issue that affects international economics, environment, health, desertification, water quality, poverty, social inequality, and other aspects of human life. Since the Brundtland report and Rio Earth Summit, many arrangements to track and fight the climate change were initiated by multilateral organizations, governments, and NGOs. As for Mongolia, the country does not have a specific law on green finance that regulates the financing of cross-sectoral and nationwide climate change actions and create the framework for effectively mobilizing the relevant financial resources to the right green projects and actions.

Therefore, The Ministry of Finance (MOF) is seeking to hire a National Individual Consultant (Expert) to conduct research on improving the legal framework governing green finance in Mongolia with comparative research on international experience.

B. OBJECTIVE OF THE ASSIGNMENT

The main objective of a National Individual Consultant is to conduct research on improving the green financing framework in Mongolia with comparative research on international experience.  

C. SCOPE OF THE ASSIGNMENT

The main assignments and associated activities to be undertaken by the National Individual Consultant shall include (but are not limited to) the following: 

I. Conduct research on improving the green financing  framework in Mongolia with comparative research on international experience

• Conduct thorough research on the existing framework governing green finance in Mongolia and identify and specify the institutional roles and powers of the Ministry of Finance within the overall green financing framework in Mongolia
• Conduct comparative research of international experience on green financing and draw on the most relevant and suitable practices for enhancing Mongolia’s  green financing environment;  

II. Recommendations for FMID on improving the green financing framework in Mongolia and how the Ministry of  Finance can enhance it’s role whilst ensuring successful implementation of  green finance and guidelines:

• Collaborating with state organizations and other relevant stakeholders to  organize workshops and discussion forums and provide reports summarizing comments and suggestions on improving the green financing framework  in Mongolia;
• Develop a strategy and plan to improve the green financing framework Mongolia by identifying the gaps and focus areas for the Ministry of Finance going forward with green financing policies and their respective implementation;
• Providing a final report including recommendations on improving the green financing framework in Mongolia and the specific action plan to be implemented by each stakeholder and especially the Ministry of Finance;

III. The the consultant will support the FMID of MOF with the implementation of the following activities as the pertain to the assignment:

• Provide written and oral translation as necessary and as requested by the Client as it pertains to the assignment;
• Undertake such other tasks as reasonably requested and or by assigned by the head of FMID and CC as it pertains to the assignment.  

D. DELIVERABLES

Based on the contracted assignments and detailed contract implementation plan approved by the client, the national consultant’s deliverables will include

        I. Provide a comprehensive research report on the existing  framework governing green finance in Mongolia;

       II. Provide comprehensive and comparative research of international experience on the green financing framework

      III. Provide a report summarizing and analyzing comments and suggestions from the workshops and discussion forums on improving the green  financing framework in Mongolia

      IV. Provide a strategy and plan to improve the green financing framework in Mongolia

       V. Provide a final report that incorporates all deliverables and relevant recommendations to improve Mongolia's green financing framework.

      VI. Undertake such other tasks as reasonably requested and assigned by the FMID and the Coordinating Consultant as it pertains to the assignment.

E. CONSULTANTS QUALIFICATION, SELECTION CRITERIA

Qualifications and Experience:

Education: A suitable candidate should have at least a bachelor's degree in law, economics, finance, public policy, business administration, or other related fields.

Experience: Incumbent should have at least 5 (five) years of relevant professional experience in the legal, financial or other related sectors. 

Broad understanding of Mongolian legal system, relevance to the financial sector.

Language: Strong writing and communications skills in English.

Other skills: 

• Excellent command of office software and equipment, such as word processors, and spreadsheets. 
• Ability to work with multidisciplinary teams and institutions. 
• Responsible and flexible attitude and capacity to manage a variety of tasks with minimal supervision. 
• Proven ability to work in a countrywide and international context. 
• Demonstrated professionalism, good judgment, and flexibility to work as necessary outside normal work hours to meet the deadlines.

F. CONTRACT DURATION 

The consultant is expected to commence in Jun 2022. The duration of the assignment is 10 months. If any task is not completed and approved by the Client within the agreed-upon timeline, the Consultant should complete the tasks without any additional cost. 

G. SUPERVISION AND REPORTING 

The consultant will report directly to the FMID of MOF while simultaneously reporting to the PIU Coordinator. The consultant will work on a full-time basis during the period of the contract.

The FMID of MOF and PIU (SFFS) shall evaluate the consultants’ performance on an output basis and approve invoices for delivered outputs. 

The Consultant must prepare and submit monthly and final reports detailing achievements and when appropriate also include details of the impediments in the execution of the entire assignment as requested and on time. 

All reports shall be prepared in both English and Mongolian, in electronic and hard format, which shall be submitted to the APD of MOF and the PIU (SFFS).

Payments will be released upon satisfactory completion of all deliverables according to the following schedule: 

• 20% of the total contract amount – will be paid upon successful completion of the deliverable (i) stated in the ToR conditional on the Client’s approval; 

• 20% of the total contract amount – will be paid upon successful completion of the deliverable (ii) stated in the ToR conditional on the Client’s approval; 

• 20% of the total contract amount – will be paid upon successful completion of the deliverable (iii) stated in the ToR conditional on the Client’s approval; 

• 20% of the total contract amount – will be paid upon successful completion of the deliverable (iv) stated in the ToR conditional on the Client’s approval; and

• 20% of the total contract amount – will be paid upon successful completion of the deliverable (v) stated in the ToR conditional on the Client’s approval

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