Sri Lanka is experiencing its worst economic crisis since its independence in 1948, with foreign currency reserves at a record low. In April 2022, repayment of foreign debt was suspended and import restrictions were imposed to manage the forex crisis, which exacerbated shortages in fuel, gas, food, and medicine and led to an increase in the cost of living by 30-40%.
The aftermath of the crisis has significantly impacted food security, as approximately 6.3 million Sri Lankans – out of the population of 22 million – are food insecure and are struggling with record-high food price inflation of more than 90%. Both energy and food insecurity have exposed the population to social insecurity.
In response, United Nations Development Programme (UNDP), with the technical and financial assistance of the Government of Japan, is planning to provide immediate crisis relief support through the diversification of livelihoods and the introduction of entrepreneurship programmes, especially targeting women-led Small and Medium-sized Enterprises (SMEs), to secure sustainable income. Further to the provisions to access innovative markets, agriculture sector value and supply chain improvement interventions will be introduced under the Japanese Supplementary Budget (JSB) assistance, to enhance family nutrition/ food security. A total of 8,000 women of smallholder farmer families will be supported directly and 32,000 vulnerable community members will be benefitted directly, in the Dry Zone districts of Mannar, Kilinochchi, Mullaitivu, Trincomalee, Vavuniya, Anuradhapura & Polonnaruwa
In light of this, UNDP is seeking to hire a Project Associate - Finance (Short term) to support the implementation of the Project as described below. Duties and Responsibilities:
Structure project finance transactions, including, identifying financing sources, developing financing plans, and negotiating terms with suppliers, contractors, Civil Society Organisations (CSOs), and other partners.
Conduct due diligence on potential suppliers, contractors, CBOs (Community-based organizations), CSOs, and partners, including assessing their financial stability, and legal and regulatory compliance.
Prepare and review legal documents related to project finance transactions, such as security agreements, and guarantees.
Build and maintain relationships with project direct implementing partners and other stakeholders involved with supporting services.
Identify, assess, and manage risks associated with project finance transactions, including financial, legal, and regulatory risks.
Monitor project activities and related payments to ensure they are performing as expected and identify any potential issues or risks.
Prepare and present regular reports on project performance, financial metrics, and key performance indicators to project management.
Work with internal teams such as Procurement, HR (Human Resource), and Finance team to ensure that all aspects of project finance transactions are properly coordinated and executed
Required Skills and Experience:
Min. Education requirements:
Successful completion of Secondary education (G.C.E. Advanced Level) is required
OR
Bachelor’s Degree in Business, Public Administration, Finance, Project Management, Economics, or equivalent field will be given due consideration.
(Degree must be from an accredited university)
Min. years of relevant work experience
Minimum of six (06) years of progressively responsible work experience, including 3 years of experience in supporting the implementation of projects, in the development sector, is required with Secondary Education.
OR
Three (03) years of progressively responsible work experience is required in relevant fields in the possession of a Bachelor’s degree
Desired skills in addition to the competencies covered in the Competencies section:
Experience in the usage of computers and office software packages (MS Word, Excel, etc.) is desirable
Advance knowledge of database packages and experience in handling of web-based management systems will be an asset.
Experience in handling general project administration and management of logistics will be an added advantage.
Demonstrated capacity to undertake assigned responsibilities and work under pressure is desirable.
Previous working experience with GCF (Green Climate Fund) or Japanese funded projects will be an asset.
Previous working experience in the UN System or in the development sector is an asset
Required Language(s):
Fluency in Sinhala and/or Tamil with excellent English communication skills.
