Background:

In accordance with London Initiative, an international conference to unlock investment, growth and jobs for Jordan, co-hosted by the UK and Jordanian Governments back in 2019. And within the provided international support for Jordan on its sustainable growth path, transitioning to a more productive, more diversified, more competitive, more equitable, export-led economy for the benefit of all those who live in Jordan.

The PPP unit within MOIN premises and authority is designed to improve overall capital investment efficiency through a systematic approach to public – private investment management and the crowding of investment through PPPs.

The PPP Law for year 2023 had been enacted in its new version, the PPP unit is requested to deliver thorough and accurate guidance to execute the projects and set the roles and responsibilities for all the stakeholders, as well as, mastering the regulatory mandate to provide the full support for all parties to implement the PPP projects, in which requires technical tasks related to engineering and financing.

Project Context:

The new PPP Law published on April 2, 2020 and came into force in May 2, 2020:
“Public Private Partnership Law - No. (17) for the year 2020” regulates for a strong management and governance system for the delivery of PPP projects. The PPP Unit is under the authority of the Ministry of Investment and is tasked for the purpose of the preparation of bankable and attractive PPP projects, and to provide with technical and legal feedback upon the received/ requested projects.

The Government ratified PPP Law in its new version for the year 2023, in which aims to empower the PPP unit to drive the PPP process effectively and transparently.

The PPP Unit will be performing principles of good governance within the law mandate to qualify, select and implement bankable projects that provide citizens with distinguished services, and achieve proportionality between the expected cost and the targeted benefit with maximum efficiency and effectiveness.

Scope of Work:

The PPP Project Finance Associate is expected to provide expertise in assisting in the frontline financial and operations aspects of the PPP Unit’s activities in relation to PPP projects appraisal financial structuring and explicit and implicit financial costs to government. The Associate is expected to provide specialized project finance / PPP advisory services to ensure that the PPP projects are better aligned to the needs of financiers and developers so as to mobilize private investment for project implementation, leading to the financial closure of PPP projects. 

Responsibilities:

The PPP Project Finance Associate will be responsible for the following key tasks:

• Coordinate with the PPP Unit Director, staff and other consultants in screening and identifying the project pipeline, PPP projects under implementation and pre-feasibility studies.
• Assist the PPP Unit in assessing financial viability, financing options and market-readiness of the PPP projects with a strong focus on credit quality and development impact.
• Assist the PPP Unit in preparing feasibility studies and financial report.
• Assist the PPP Unit in preparing PPP project agreement.
• Assist the PPP Unit in procurement and tendering process of PPP project including RFQ & RFP.
• Assist in the preparation and reviewing of internal documents, memos and Project Concept Notes for PPP projects in coordination with the relevant government entities and PPP staff and consultants.
• Advise the PPP Unit in the selection and the management of consultants to undertake pre-feasibility studies (financial, commercial selection criteria) and projects under implementation.
• Assist in reviewing the transaction advisors’ proposals and assist the PPP Unit in selecting transaction advisors.
• Assist the PPP Unit in undertaking analysis of the regional and global trends in PPPs and infrastructure sector, financial markets and financing options, proposing innovative measures and modalities (which may include infrastructure bonds, leveraging domestic resources, etc.) adapted to the Jordanian context to mobilize private investment for the PPP projects.
• Assist the PPP Unit in conducting in-depth review of the financial models, value-for-money analysis and public sector comparator to evaluate and structure the PPP transactions
• Assist the PPP Unit in reviewing and managing the PPP projects’ due diligence, risk analysis and mitigation, introduction and negotiations on credit enhancements, guarantees, currency and other hedging instruments and structuring of loans and equity investments
• Coordinate with the PPP Unit and other consultants to support the development of the financial framework for the bankability of the projects.
• Contribute to the development of PPP Methodologies.
• Perform such other tasks as assigned by the PPP unit Director as may become necessary.

Deliverables:

The PPP Project Finance Associate is expected to submit, the following deliverables:

• Monthly report of the updates of the PPP pipeline projects.
• Project(s) financial viability assessment report(s).
• FCCL report review briefing and recommendation for every PPP project.
• Quarterly progress report on all tasks assigned and performed.
• Other required artifacts.

Qualifications & Expertise:

The PPP Finance Associate must be a mature, driven and a hands-on problem solver. Key qualifications required are listed below:

• An undergraduate degree in finance, business or similar relevant education.
• Must have at least 7 years of successful, verifiable, and relevant experience in a project finance environment, either as an equity sponsor or an investment bank.
• Must be comfortable with developing and analyzing complex reports and project structuring documents including contracts, financing documents and financial models.
• A post graduate qualification is finance is an advantage.
• Must have a balanced personality with excellent communication and interpersonal skills
• Must be able to work independently as well as part of a team.
• Must be able to work under demanding schedules.
• Language Proficiency:  Fluency in reading, writing, and speaking of Arabic and English languages is required.