Tenders Are Invited For Econsult Short Term Consultant Senior Pacific Pensions Project Manager

Tenders Are Invited For Econsult Short Term Consultant Senior Pacific Pensions Project ManagerThe Finance Competitiveness Innovation Global Practice Fcigp Of The World Bank Group Wbg Aims To Help Countries Build Deep Diversified Inclusive Efficient And Stable Financial Systems Which Are Essential To Promoting Economic Growth And Reducing Poverty And Increasing Shared Prosperity The Practice Is Committed To Delivering Public And Private Sector Tailored Solutions To Development Challenges By Leveraging The Whole Range Of The Wbgs Financial Knowledge Advisory And Convening Services For Clients With The Sparseness And Lack Of Scale Of The Pacific Region There Are A Number Of Challenges In The Delivery Of Essential Infrastructure Such As Telecommunications Transport Sustainable Energy Financial Services Health And Water Pacific Governments Also Have Limited Scope To Attract Private Investment Capital To Fund This Infrastructure Depending On Subsidized Debt And Grants From Donor Agencies And Sovereigns As Their Main Funding Mechanism Pacific Nations Have Had The Foresight To Develop Various Pension Type Funds Such As Provident Pension And Sovereign Wealth Funds Collectively Pfs As A Mechanism To Build A Financial Platform For The Post Work Years Of The Working Population With The Collection Of Member Contributions Over An Extended Period Many Of These Funds Have Reached Relative Scale And Significantly Influence The Financial Systems Of Each Of The Pacific Nations With Pension Assets Ranging Between 20 And 70 Of Their Countries Gdps For Pacific Island Countries Pics This Scale And Influence Have Led To Many Of These Funds Experiencing Constraints Within Their Own Market Where Appropriate Investment Opportunities Are Limited Resulting In An Increased Concentration Risk To The Domestic Market Pic Pfs Hold Total Funds Under Management Of Nearly Usd 8 6 Billion Contrasting This Investment Pool The Asian Development Bank Estimates The Funding Shortfall On Pacific Infrastructure Investment To Be Around Usd 45 Billion Over The Next 12 Years In 2018 The Pic Pfs Formalised A Representative Body To Serve The Specific Interests Of Members Funds Under The Pacific Island Investment Forum Piif The Mission Of The Piif Is To Facilitate Collaboration Education And Co Investment Among Members With The View To Support The Free Flow Of Capital In Pursuit Of Long Term Pacific Economic Prosperity This Project Seeks To A Strengthen The Development Of An Efficient And Sustainable Pension System By Diversifying Its Asset Mix Into Regional Infrastructure And Other Direct Investment Projects And B Increase Mobilization Of Private Sector Infrastructure Investments By Facilitating The Flow Of Long Term Capital From Pacific Pension Funds Consistent With The Fiduciary Responsibilities Of The Funds 2 Objective The Objective Of The Consulting Services Is To Provide Expert Guidance In The Development Of The Sequence Of Activities Required To Meet The Following Broader Project Objectives During The Pre Implementation Phase Of The Project Objective 1 Diagnose Existing Government And Fund Regulatory And Policy Barriers For Development Of The Investment Platform And Identify Remedial Actions To Enable The Investment Function Objective 2 Drawing On Global Expertise And Best Practice Identify The Suitable Investment Platforms Available To The Piif Objective 3 Undertake Establishment Of The Optimal Investment Platform And Facilitate Necessary Functions Legal Support Investment Management Custody Financial Risk Management To Operationalize The Platform To Meet These Objectives This Role Will Be Required To Develop A Plan Encompassing Developing Extensive Understanding Of Stakeholder Needs Identify Available Technical Solutions For Consideration Build The Preferred Investment Platform And Structure Manage Selection Of Required Service Providers To Global Market Standards Establish Policies To Facilitate Investment Platform Operation And Construct Reporting And Review Protocols To Meet The Internal Reporting Needs Of Investing Entities

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