Individual Consultant: Conducting a Regional Workshop on Climate Swaps, Green Bonds, Blue Bonds, and Other Climate Financing Instruments

Job Description

Background

The African Capacity Building Foundation (ACBF) is a pan-African institution established in 1991 by African countries with the support of bilateral and multilateral partners. The Foundation’s mandate is to develop human capital and accelerate institutional development to enable the African continent to address its current and future sustainable development challenges. In this regard, it supports human capital development and institutional strengthening in governments, private sector associations, civil society organizations, think tanks, academia, and research institutions at national, regional, and continental levels to improve their capacity to deliver sustainable development results.

Since 2017, ACBF has also been recognized as a Specialized Agency of the African Union for Capacity Development, as conferred by African Heads of State and Government, with the mandate to drive the continent’s capacity development agenda.

ACBF is currently executing his Strategic Plan 2023-2027 seeks to enhance Africa’s transformation ecosystem with fit-for-purpose delivery capabilities for inclusive growth and sustainable development. The Plan focuses on four key impact areas namely: i) Climate Change and Energy for Productive Use, ii) Agribusiness and Food Sovereignty, iii) Trade as an Engine of Economic Development and iv) Economic and Social Governance.

Additionally, the Plan leverages ACBF’s institutional strengths in areas such as youth employment, gender, digitalization, and data, while fostering strategic partnerships for effective implementation.

About Capacity Development for Africa’s Structural Transformation (CADAST) Project

ACBF is implementing the African Development Bank Group (AfDB)-funded project namely the Capacity Development for Africa’s Structural Transformation (CADAST). It is an Institutional Support Project which aims to strengthen the capacity for structural transformation in Regional Member Countries (RMCs) for inclusive growth and sustainable development.

The specific objectives of the project include:

• Enhancing intra-African trade effectiveness in RMCs to advance Africa’s regional integration agenda and
• Strengthening economic and financial governance for green growth and efficient use of public resources in RMCs, with a focus on internal ACBF staff capacity development and enhancing policymakers’ knowledge and capacity.

The project should contribute to strengthening the countries’ institutional capacity for implementing the African Continental Free Trade Area (AfCFTA) agreement and boosting regional integration. Also, the project should provide training, technical assistance, and policy dialogue, to enhance macroeconomic policy management in Africa. In addition, the project should strengthen the countries’ capacity to formulate and implement policies aligned with the Paris Agreement on climate change.

Background and Rationale

Over the past decade, many African countries have experienced a significant rise in public debt levels, driven by infrastructure investment needs, commodity price shocks, the COVID-19 pandemic, and the increasing frequency of climate-related disasters. As of 2024, over 20 African countries are either in or at high risk of debt distress, according to the IMF and World Bank Debt Sustainability Analysis (DSA). Countries such as Ghana, Zambia, Ethiopia, and Malawi have already undergone or are undergoing debt restructuring negotiations, while others face narrowing fiscal space to invest in sustainable development and climate resilience.

Simultaneously, Africa is on the frontlines of the climate crisis. The continent contributes less than 4% of global greenhouse gas emissions, yet it suffers disproportionately from its impacts – droughts in the Horn of Africa, cyclones in Southern Africa, floods in the Sahel and West Africa, and rising sea levels along the coasts. The African Development Bank (AfDB) estimates that African countries need up to $2.7 trillion by 2030 to implement their Nationally Determined Contributions (NDCs), but climate finance flows to the continent remain severely inadequate averaging only $30 billion per year, far below the required amount.

This dual crisis—debt stress and climate vulnerability—demands integrated and innovative financial solutions. One promising approach is the use of climate-aligned financial instruments such as:

• Debt-for-climate swaps: These allow countries to reduce their debt burden while channeling funds toward climate mitigation and adaptation activities. The Seychelles and Belize have successfully implemented such instruments, combining debt relief with marine conservation and resilience projects.
• Green bonds: These instruments allow governments to raise funds exclusively for environmentally friendly projects such as renewable energy, waste management, sustainable transport, and climate adaptation. Nigeria was the first African country to issue a sovereign green bond in 2017.
• Blue bonds: A subset of green bonds, blue bonds finance ocean-related climate resilience and conservation efforts. Seychelles issued the world’s first sovereign blue bond in 2018 to support sustainable marine fisheries.

Despite the growing potential, many African Debt Management Offices (DMOs) lack the technical capacity, legal frameworks, and market confidence to initiate and manage these instruments. There is also a limited understanding of the modalities, risks, and opportunities of integrating climate finance into national debt management strategies. Furthermore, the fragmented nature of the climate finance landscape and the lack of robust project pipelines further constrain access to these innovative windows.

Against this backdrop, this regional workshop seeks to build the capacity of DMOs from 12 African countries to understand and engage with innovative climate finance instruments. It provides a platform to learn from successful case studies, engage with global experts, and develop national strategies for leveraging climate finance to support both debt sustainability and climate action. The workshop also aligns with continental efforts such as the African Union Climate Strategy, the AfDB’s Climate Change Action Plan, and the African Climate Risk Financing Initiative.

Ultimately, this initiative aims to support a just and climate-resilient debt transition by equipping countries with the tools to link debt management with environmental sustainability – turning climate challenges into development opportunities.

Objectives of the assignment

The main objective of the consultancy is to train officials from the debt management offices of 12 African Countries. The training will be in-person and will be implemented with interpretation service in both English and French.

Specifically, the training is expected to achieve the following objectives:

i. Provide in-depth knowledge on the structure, design, issuance, and monitoring of climate-related debt instruments (e.g., green bonds, blue bonds, and debt-for-climate swaps).

ii. Enhance understanding of the financial, legal, and institutional frameworks required to successfully execute such instruments.

iii. Strengthen integration of climate and debt policies

• Support DMOs in aligning national debt strategies with climate goals, including NDC implementation and low-carbon development pathways.
• Explore how climate finance can be mainstreamed into medium-term debt management frameworks (MTDS) and fiscal risk assessments.

iv. Facilitate Peer Learning and Experience Sharing

• Offer a platform for country representatives to exchange lessons learned, good practices, and challenges encountered in developing or exploring climate finance instruments.
• Examine case studies from African and global contexts to highlight innovative models of climate-debt synergies.

v. Support Development of Country-Specific Roadmaps

• Guide participants through practical exercises to draft tailored country action plans or roadmaps for accessing and implementing climate-aligned financing mechanisms.
• Help countries identify technical assistance and institutional reforms needed for readiness and implementation.

vi. Identify Opportunities for Technical Assistance and Financing

• Provide information on existing technical support mechanisms, funding sources, and application processes available through institutions such as the Green Climate Fund (GCF), African Development Bank (AfDB), IMF’s Resilience and Sustainability Trust (RST), and others.
• Facilitate country-donor matchmaking to unlock follow-up technical assistance and project financing.

vii. Enhance Readiness for Issuance and Negotiation

• Equip DMOs with the knowledge to assess market readiness, engage credit rating agencies, and design investor outreach strategies.
• Strengthen negotiating capacity for debt-for-climate swaps, including structuring, creditor engagement, and legal due diligence.

Expected Outcomes

The workshop is expected to generate the following outcomes:

a. Enhanced Technical Knowledge of DMOs

• Participants from all 12 countries demonstrate a stronger understanding of the structure, benefits, risks, and processes related to:

o Climate and debt-for-nature swaps

o Green bonds and blue bonds

o Blended climate finance instruments

• Increased awareness of ESG (Environmental, Social, and Governance) standards, green taxonomies, and sustainability reporting requirements.

b. Draft National Action Plans or Roadmaps

• Each participating country develops a preliminary action plan or roadmap outlining:

o Priority climate projects suitable for climate-aligned financing

o Steps needed to build institutional and legal readiness

o Target instruments (e.g., green bond issuance, climate swap)

o Required technical assistance or advisory support

c. Strengthened Integration of Debt and Climate Strategies

• Improved understanding by DMOs of how to align medium-term debt strategies (MTDS) with national climate goals and NDCs.

• Increased collaboration between finance and environment ministries in exploring joint financing mechanisms.

d. Peer Exchange and Knowledge Network Established

• Creation of a regional network of focal points among DMOs and related institutions for continued experience-sharing and support on climate finance.

• Identification of at least 2–3 good practice case studies from the region to be documented and disseminated.

e. Enhanced Readiness for Market Engagement

• At least 2–3 participating countries identify a potential pipeline of climate-aligned projects suitable for green/blue bond issuance or swap proposals.

• DMOs gain practical insights into investor engagement, credit enhancement mechanisms, and ESG disclosure standards.

f. Workshop Report and Communiqué

• A detailed workshop report capturing technical content, participant feedback, action plans, and partnership opportunities is produced and shared with stakeholders.

• A joint communiqué or declaration reflecting country commitment to explore innovative climate financing options is adopted and disseminated.

Target Participants

The workshop is designed for 2 sessions with 25 officials (per session) from the Debt Management Offices (DMOs) of 12 selected African countries, with a particular focus on staff working in the Front Office and Middle Office, given their critical roles in borrowing operations, risk analysis, and engagement with financial markets.

Each country is expected to nominate 2 officials from its DMO, with representation ideally including:

• Front Office Staff

Responsible for:

o Developing and executing borrowing strategies

o Managing bond issuance and negotiations with creditors

o Engaging with investors, credit rating agencies, and multilateral institutions

o Identifying and structuring green, blue, and climate-linked instruments

• Middle Office Staff

Responsible for:

o Conducting risk analysis and debt sustainability assessments

o Monitoring compliance with climate-related reporting and ESG frameworks

o Evaluating cost-risk trade-offs of climate-linked debt instruments

Scope of Work

The consultant will be responsible for the following tasks:

• Pre Assessment: Conduct a needs assessment to identify the specific training needs in climate Swaps, Green Bonds, Blue Bonds, and Other Climate Financing Instruments,
• Content Development: develop detailed training methodologies and tools, including training manuals, modules covering keys topics detailed above,
• Review and Validation: Collaborate with ACBF and relevant stakeholders to review and validate the content of the training manuals,
• Training Delivery: provide the needed technical support for the effective delivery of the training, including suggested training methods, materials, and evaluation techniques,
• Training Report: drafting and preparing report on the training workshop organized. The report should include all the stakeholders and participants involved, the methodology/approach used to deliver the training, the content on the capacity intervention delivered during the training, and details findings and views from the stakeholders targeted for the training, including needed actions and further road map for capacity interventions in the area.

Expected Deliverables

Based on the scope of work outline above, the Consultant is expected to deliver training to the DMO of the selected countries.

At the end of the proposed exercise, the following deliverables are expected:

• Inception Report: A detailed report outlining the methodology, work plan, and timeline for the project,
• Draft & final assessment reports: These reports will form the basis for the development of the training materials
• Draft Training Manuals: Initial drafts of the training manuals for review and feedback,
• Final Training Manuals: Finalized versions of the training manuals incorporating feedback from ACBF,
• Training Delivery Guidelines: A comprehensive guide on how to deliver the training effectively,
• Training report: a complete report on the progress of the workshop and the mission, including evaluation made by participants on the training. This should include pre- and post-training assessments, participant feedback, and recommendations for institutionalizing the use of climate finance in the resource mobilisation and debt management strategy.

Policy brief: highlighting key lessons, best practices, and actionable steps for the adoption of Climate Swaps, Green Bonds, Blue Bonds, and Other Climate Financing Instruments in their debt strategy under the CADAST.

Duration of the Assignment, Timing and submission

The duration of the assignment is eight (08) months from December 2025 to July 2026.

The firm will report to the Director of Programs and Impact Department at ACBF (or any designated officer at ACBF).

Desired Qualifications, Experience and Competencies of the consultant

To successfully deliver the scope of work, the consultant should possess the following qualifications:

• advanced degrees (Master’s or higher) in Economics, Development Studies, Public Policy, Finance or closely related fields. A Ph.D. is an added advantage,
• A certificate or diploma in climate finance is an advantage
• Climate finance and debt management specialist with extensive 10 years experiences in climate finance
• the consultant must have at least seven (7) years of proven experience in designing and implementing capacity-building programs focused on resource mobilization and debt management, with a strong emphasis on the African context,
• Demonstrable experience in conducting needs assessments, developing tailored training curricula, and delivering interactive training sessions on climate financing instruments such as Climate Swaps, Green Bonds, Blue Bonds, and Other Climate Financing Instruments in their debt strategy
• A strong understanding of global, regional and national contexts related to climate finance instruments and their relationship with the Paris Agreement and Agenda 2063.
• Prior experience working with or within ministries of finance, debt management office, resource mobilization departments of African countries or in Regional Member Countries (RMCs) is highly desirable,
• Proven track record in developing practical training materials and tools that facilitate the integration of these instruments to debt strategy.
• Excellent research, analytical, and report-writing skills in English and French,
• Strong communication and interpersonal skills, with the ability to work collaboratively with diverse stakeholders including government officials, development partners, and civil society,
• Proven facilitation and presentation skills, capable of engaging participants effectively through participatory and adult learning methodologies.

Location and working arrangements

This assignment is both home-based and in person training in the selected countries. The consultant will be given access to relevant information necessary for the execution of the tasks under this assignment. The firm will be responsible for providing her/his own working station (i.e., laptop, internet, phone, scanner/printer, etc.) and have access to a reliable internet connection.

Language

The training materials shall be submitted in both French and English.

Interested consultants may obtain further information including the Terms of Reference at the address below during office hours (9:00am –17:00 hours). Expressions of interest must be submitted via email or delivered to the address below by 1st December 2025 at 17:00 hours Harare time and mention the Procurement Reference Number and subject of Procurement.

Attention : Procurement Unit

Procurement Specialist

2 Fairbairn Drive, Mt Pleasant

Harare, Zimbabwe

Tel: +263 772 185 308 – 10

E-mail: submission@theacbf.org

Application Deadline: 1st December 2025 at 17:00 hours Harare time

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