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Development Impact Bond (DIB) - Director Vacancy

Youth Skills training & Employment - Development Impact Bond (DIB)

DIB Director Vacancy - Second Announcement

 

Deadline for applications is Monday, April 30, 2018.

Overview

The Finance for Jobs (F4J) Project is a four-year economic development program based in Ramallah, funded by the World Bank (WB) and implemented by DAI Global, LLC (DAI) on behalf of the Ministry of Finance and Planning (MoFP), as the Project Implementation Agency (PIA).

The F4J Project provides an opportunity to test three financial instruments and their ability to mobilise private investment and create employment opportunities for Palestinian youth in the West Bank and Gaza.

One of these instruments is the Development Impact Bond (DIB), which is being designed with support from F4J’s partner, Social Finance UK. A DIB is a results-based instrument for which external investors provide up-front finance to fund the delivery of services that seek to achieve high priority outcomes. Outcomes funders agree to repay the external investors if, and only if, the services succeed in achieving the targeted outcomes that will be independently verified. Returns to investors are linked to the extent to which agreed results are achieved.

For the F4J DIB, external investors will fund a performance management team (DIB Management team) as well as skills training and training-to-employment services to young Palestinians in the West Bank and Gaza. Over an implementation period of three years, the DIB-funded services will aim to deliver sustained employment outcomes for those young people.

For the DIB’s implementation, the investor syndicate will pool their capital in a Special Purpose Vehicle (SPV) in the West Bank. The SPV will directly contract the DIB Management team and service providers and will hold an outcomes-based contract with the PIA.

In summary, the DIB involves the key actors as listed below:

1. Service providers that deliver training and employment services to achieve specific, pre-agreed upon training outputs and employment outcomes.

2. External investors (likely a mix of local and international investors) who pre-finance the service and get repaid, if the intervention succeeds.

3. DIB Management team who act as the external investor’s agent and support the successful delivery of the programme. They will assume responsibility for service mobilisation and on-going performance management of core service delivery. This team will be selected by investors once capital is committed.

4. PIA has been selected by the MoFP to manage the F4J Project. It will represent the interest of the Outcomes Funders in the DIB and disburse outcomes funding to the SPV if and when the service succeeds in delivering targeted outputs and outcomes, that are verified, by the (IVA).

The investors are currently being identified, and an SPV will be soon created. In the meantime, and on behalf of investors, F4J (and its partner Social Finance UK) is seeking nominations for the below positions, that will be staff of the SPV (not the F4J project). All positions will be based in Ramallah, with expected contracts of +3 years, between June 2018 to October 2021. Exact contract duration is to be determined later.

For the detailed job description and application instructions, please review the attachment below.

Deadline for applications is Monday, April 30, 2018.

Downloads

DIB Director - Job Description