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Climate Finance Product Development Consultant for USAID Climate Adaptation Project


  • Organization: Tetra Tech - Modern Cooking for Healthy Forests
  • Location: Male
  • Grade: Consultancy - Consultant - Contractors Agreement
  • Occupational Groups:
    • Development Cooperation and Sustainable Development Goals
    • Banking and Finance
    • Environment
    • Meteorology, Geology and Geography
    • Humanitarian Aid and Coordination
    • Climate Change
    • Project and Programme Management
    • Innovations for Sustainable Development
  • Closing Date: Closed

The USAID-funded Climate Adaptation project in Maldives, implemented by Tetra Tech International Development ( is currently accepting expressions of interest for a Climate Finance Product Development Consultant. This position will be located in the main office in Male.

Position Description/Summary: The Republic of the Maldives is a Small Island Developing State (SIDS) and is one of the most vulnerable nations to climate change globally. SME Development and Finance Corporation Maldives (SDFC Maldives), a state owned and regulated specialized financial institution was established in early 2019 to provide financial products and ancillary services to Micro, Small and Medium Enterprises (MSMEs) and entrepreneurial start-ups with the primary purpose of easing access to finance for MSMEs in the Maldives.

In October 2022, Government of Maldives through a consultative process led by the NDA, nominated SDFC Maldives for accreditation to the Green Climate Fund as Direct Access Entity (DAE). With financial support from USAID Climate Adaptation Project a Gap Analysis was conducted in 2022 to identify fiduciary, administrative and financial management as well as environmental and social safeguards gaps to address in preparation to completing SDFC accreditation to the GCF. One finding of the Gap Analysis was that SDFC has a lack of investment track record on climate investments.

National adaptation strategies as evidenced by Maldives NDCs identified the sectors of tourism, agriculture, and fisheries as sectors with potential opportunity to enhance adaptation. Yet the current support structure for financing private sector climate change activities in tourism, agriculture and fisheries sectors in the Maldives is ad hoc and not well streamlined. This limits opportunities for these sectors to access climate finance. To address this, it is important to develop new climate financial products whereby proceeds from climate finance are accessible to these sectors in a usable form by SMEs and deliver climate adaptation impacts.

The objective of this assignment is to develop new climate financial products in support to climate investments for tourism, fisheries, and agriculture sectors for SDFC Maldives. The financial products will be based on market research that identify gaps for existing loan products being deployed by SDFC and needs for new financial products that could be launched to sustainably promote climate adaptation by SMEs in the relevant sectors while achieving SDFC mandate.

The LoE for this activity will be 45 days, with 30 of those days spent in Male, Maldives.


The Consultant will conduct market research, identifying needs and gaps relevant to the deployment of new financial products in support to climate adaptation in the sectors tourism, fisheries and agriculture. The market research will include the potential climate impact (adaptation beneficiaries) that could be reached through the deployment of these new financial products. The Consultant will develop prototypes of proposed financial products including terms and conditions, support the product testing, and provide a final report with recommendations based on lessons learnt during testing.

* Draft an inception report presenting the methodology the consultant will apply for the deliverables and for estimating climate adaptation impacts in the relevant sectors.

* Develop a market research report on the current state of agriculture, fisheries and tourism sectors including an analysis of the financial products currently available in support to those sectors in the Maldives and their effectiveness in terms of accessibility, public reception, and usability. Using global research on existing financial products in similar country contexts, the study will identify potential new financial products that could promote climate adaptation in these sectors and their description with a focus on SMEs as target audience. The study will identify possible terms and conditions that the target audience can absorb.

* Develop prototypes of new financial products including terms and conditions with a presentation of the prototype.

* Refine prototypes by incorporating feedback from SDFC and USAID Climate Adaptation Project, and plan for testing the prototypes

* Develop a report of testing phase with recommendations on final applicable financial products and their potential climate impacts in the sectors tourism, fisheries and agriculture.


* The consultant should possess a minimum PHD in Economics, Finance, Agriculture, or any other equivalent field;

* At least 7 years expertise in climate finance with a strong background in structuring, development of financial products, exposure to financial markets will be a plus;

* Experience in similar consulting assignment with verifiable track records of having compiled market research reports involving development of new financial products;

* Knowledge of the specific sectors of fisheries, agriculture, or tourism; experience of having developed financial products for these sectors would be a plus;

* Deep understanding of climate change adaptation, past experience in a multilateral development bank or financial institution would be of great advantage;

* Experience in quantifying climate change adaptation impacts with solid track records in development of climate adaptation projects for the GCF;

* Understanding of climate risks facing the fishery, agriculture and tourism sectors, related publications would be a plus;

* Understanding of how financial products can be used to mitigate or adapt to climate change threats in these sectors;

* Strong analytical skills: Developing new financial products requires a strong ability to analyze data, evaluate risks and opportunities, and make informed decisions;

* Good communication and collaboration skills; and

* Track record working with a range of stakeholders, including financial institutions, government agencies, and industry organizations will be key.

To be considered applicants must submit the following as part of the on-line process:

* Cover Letter

* CV in reverse chronological format

* One Writing Sample – must be sole authorship, maximum 10 pages

Please indicate where you saw Tetra Tech’s IDS ad posted.

Apply on-line at:

Applications that do not meet the minimum requirements listed above will not be considered. Please ensure that all necessary documents are uploaded and submit only the requested documentation as part of your application. Only candidates who have been selected for an interview will be contacted. No phone calls, please.

At Tetra Tech, health and safety play a vital role in our success. Tetra Tech’s employees work together to comply with all applicable health & safety practices and protocols, including health orders and regulations related to COVID-19 that are mandated by local, state, and federal authorities.

Tetra Tech combines the resources of a global, multibillion-dollar company with local, client-focused delivery in more than 550 locations around the world. Our reputation rests on the technical expertise and dedication of our employees — 27,000 associates working together to provide smart, scalable solutions for challenging projects. We are proud to be home to leading technical experts in water, environment, infrastructure, resource management, energy, and international development. We are an equal opportunity employer: EOE AA/M/F/Vets/Disability. If you need a reasonable accommodation with your application process, contact our Global Talent Operations team.

This vacancy is now closed.
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