Blended Finance Facility Specialist – International Consultantnew

Introduction

Established in 1951, IOM is a Related Organization of the United Nations and the leading UN agency in the field of migration. Working closely with governmental, intergovernmental and non-governmental partners, IOM promotes humane and orderly migration for the benefit of all. It saves lives and protects people on the move, drives solutions to displacement, and facilitates pathways for regular migration, while providing services and advice to governments and migrants. 

IOM is committed to fostering a respectful, inclusive and supportive workplace where all employees can thrive professionally and feel valued. By creating such an environment, IOM aims to better harness the full potential of migration and strengthen its support to people on the move.

IOM invites candidates from diverse backgrounds to apply and provides reasonable accommodation throughout the recruitment process when required. Learn more about IOM’s workplace culture at IOM workplace culture | International Organization for Migration

Project Context and Scope

Access to finance remains one of the principal barriers to business growth and job creation in Iraq. While significant efforts have been undertaken by the Government of Iraq and the Central Bank of Iraq to increase access to financing for Micro, Small and Medium Enterprises (MSMEs), many entrepreneurs continue to face challenges related to collateral requirements, perceived credit risks, limited financial histories, high transaction costs, and restricted access to suitable financial products.

IOM Iraq supports livelihoods, economic recovery, and private sector development interventions aimed at fostering sustainable economic opportunities for vulnerable populations, including women, youth, returnees, internally displaced persons (IDPs), climate-affected communities, and small business owners.

As part of its efforts to promote financial inclusion and strengthen sustainable economic recovery, IOM intends to establish a blended finance mechanism that utilizes catalytic donor funding alongside commercial lending to enhance access to finance for underserved businesses and entrepreneurs. The blended finance approach will seek to mobilize capital, reduce lending risks, strengthen financial institutions’ engagement with target populations, and promote sustainable market development. The initiative will be developed in close coordination with the Central Bank of Iraq, partner banks, and other financial institutions to ensure alignment with national priorities, banking regulations, and sustainable financial sector development objectives.

To support this process, IOM seeks to recruit a qualified Blended Finance Specialist Consultant with substantial experience in banking, SME finance, financial inclusion, blended finance, and stakeholder engagement within the development and financial sectors. The consultant will work closely with IOM livelihoods teams, the Central Bank of Iraq (CBI), participating financial institutions, and other relevant stakeholders.

The consultant will serve in an individual capacity and shall not be considered an IOM staff member. The consultancy contract does not establish an employer-employee relationship. The consultant shall have no authority to make commitments, representations, or decisions that bind IOM.

Under the overall supervision of the Deputy Chief of Mission and the direct supervision of the Senior Programme Coordinator, in close coordination with the National Livelihood Officer

1. Lead the design, development, and operationalization of the blended finance facility, providing strategic and        technical guidance throughout implementation.

2. Support the financial structuring process through financial modelling, analysis of financial, fiduciary, and operational risks associated with proposed financing arrangements, and review of concessional finance structures proposed by fund managers or financing partners, ensuring alignment with IOM's objectives, policies, and risk management requirements.

3. Provide technical support to IOM in its engagement with the Central Bank of Iraq, partner banks, and other stakeholders, and support the development of cooperation, governance, and accountability frameworks.

4. Establish the facility’s operational model, risk management framework, implementation procedures, and governance arrangements to ensure effective and sustainable delivery.

5. Design and deliver capacity-building initiatives for IOM and partner stakeholders while establishing monitoring, evaluation, learning, and reporting systems to measure performance and impact.

6. Develop a strategy for future partnerships, resource mobilization, and expansion of the facility, including a scale-up concept note and an engagement strategy for potential investors and donors.

Objectives of the Assignment 

The overall objective of the consultancy is to support IOM Iraq in the assessment, design, development, and operationalization of an innovative blended finance facility, including providing technical advice during negotiations with financial institutions and development partners, following IOM’s Innovative Finance engagement models, capable of mobilizing concessional finance for underserved MSMEs and vulnerable entrepreneurs through strategic partnerships with the Central Bank of Iraq and participating financial institutions. The consultant will support the development of a practical, implementable, and scalable financing mechanism that combines donor resources, technical assistance, and private sector financing while ensuring financial sustainability, regulatory compliance, institutional ownership, and measurable development impact.

Tangible and measurable outputs of the work assignment

All deliverables shall be submitted in English and will be subject to review and approval by IOM prior to the release of payments.

•    Quality, practicality, and technical soundness of the blended finance facility design and recommendations. 
•    Development of comprehensive operational, governance, and risk management frameworks acceptable to IOM       and key stakeholders. 
•    Effective engagement and coordination with the Central Bank of Iraq, participating financial institutions, and           other relevant partners. 
•    Timely delivery of agreed outputs, including capacity-building activities, implementation frameworks, and the         final scale-up concept note.
•    Degree of stakeholder buy-in and validation of the proposed blended finance facility by the Central Bank of Iraq      and participating financial institutions.
 

Education, Experience, and/or skills required.

• Advanced university degree in, Finance, Banking, Economics, Development Finance, Business Administration, Public Finance, or a related sector. A first-level university degree with an additional two years of relevant professional experience may be accepted in lieu of an advanced degree.
  • Minimum 10years of progressively responsible professional experience in banking, structured finance, blended finance, lending, microfinance, financial inclusion, investment advisory, development finance, or related areas.
  • Strong experience designing and implementing blended finance structures, credit guarantee facilities, MSME financing programs, risk-sharing mechanisms, or similar financial instruments.
  • Demonstrated experience designing or advising blended finance facilities in fragile, conflict-affected, or emerging market contexts is highly desirable.
  • Strong knowledge of portfolio risk management, lending operations, financial product development, and regulatory compliance.
  • Previous experience in Iraq or the Middle East region is highly desirable.
  • Strong writing and research design skills, with the ability to express and report results in a concise and clear manner to technical and non-technical audiences.
  • Demonstrated experience engaging with Multilateral Development Banks (MDBs) and Development Finance Institutions (DFIs) in the design, structuring, appraisal, negotiation, or implementation of blended finance, concessional finance, guarantee facilities, or investment operations, including familiarity with their operational, fiduciary, and risk management requirements.
  • Fluency in English & Arabic are essential. 

Travel required:

Travel is required for this consultancy. This consultancy will be based in Iraq and will require travel to locations across Iraq where the program is implemented. All personal travel-related expenses, including airfare and subsistence, will be covered by the consultant. All work-related travel expenses within Iraq will be covered by IOM.

Note:  As part of your application, please submit a financial proposal outlining your approach and fees to complete the assignment.

Languages

For this consultancy, English is required.

Knowledge of Arabic is considered an advantage.

Proficiency of language(s) required will be specifically evaluated during the selection process, which may include written and/or oral assessments.

Required Competencies

IOM’s competency framework can be found at this link. Competencies will be assessed during the selection process.

Values - all IOM staff members must abide by and demonstrate these five values:

• Inclusion and respect for diversity: Respects and promotes individual and cultural differences. Encourages diversity and inclusion.
• Integrity and transparency: Maintains high ethical standards and acts in a manner consistent with organizational principles/rules and standards of conduct.
• Professionalism: Demonstrates ability to work in a composed, competent and committed manner and exercises careful judgment in meeting day-to-day challenges.
• Courage: Demonstrates willingness to take a stand on issues of importance.
• Empathy: Shows compassion for others, makes people feel safe, respected and fairly treated.

Core Competencies – behavioural indicators

• Teamwork: Develops and promotes effective collaboration within and across units to achieve shared goals and optimize results.
• Delivering results: Produces and delivers quality results in a service-oriented and timely manner. Is action oriented and committed to achieving agreed outcomes.
• Managing and sharing knowledge: Continuously seeks to learn, share knowledge and innovate.
• Accountability: Takes ownership for achieving the Organization’s priorities and assumes responsibility for own actions and delegated work.
• Communication: Encourages and contributes to clear and open communication. Explains complex matters in an informative, inspiring and motivational way.

Notes

IOM covers Consultants against occupational accidents and illnesses under the Compensation Plan (CP), free of charge, for the duration of the consultancy. IOM does not provide evacuation or medical insurance for reasons related to non-occupational accidents and illnesses. Consultants are responsible for their own medical insurance for non-occupational accident or illness and will be required to provide written proof of such coverage before commencing work. 

Any offer made to the candidate in relation to this vacancy notice is subject to funding confirmation.

Appointment will be subject to certification that the candidate is medically fit for appointment, accreditation, any residency or visa requirements, security clearances.

IOM has a zero-tolerance policy on conduct that is incompatible with the aims and objectives of the United Nations and IOM, including sexual exploitation and abuse, sexual harassment, abuse of authority and discrimination based on gender, nationality, age, race, sexual orientation, religious or ethnic background or disabilities.

IOM does not charge a fee at any stage of its recruitment process (application, interview, processing, training or other fee). IOM does not request any information related to bank accounts.

IOM only accepts duly completed applications submitted through the IOM e-Recruitment system (for internal candidates link here). The online tool also allows candidates to track the status of their application.

No late applications will be accepted. Only shortlisted candidates will be contacted.

For further information and other job postings, you are welcome to visit our website: IOM Careers and Job Vacancies