European Investment Bank/Global Development Network (GDN) Special Recruitment Drive in International Finance .

Application Deadline:August 2nd 2019

The Global Development Network (GDN) and the European Investment Bank (EIB) have partnered to create the EIB-GDN Program in Applied Development Finance to study the impact of projects in African, Caribbean and Pacific (ACP) countries financed under EIB’s Impact Financing Envelope.

The purpose of the program is to provide a select group of highly qualified and motivated young researchers a practical opportunity to hone their impact assessment skills, by working on real-world projects in private sector development funded by one of the world’s leading financial institutions, under the mentorship of top international experts.

The researchers will be inducted into the Program as Candidate Fellows at an inception workshop at EIB Headquarters in Luxembourg City on 21-30 September 2019. At the end of the 12-month program cycle and on satisfying all program requirements, the Candidate Fellows will receive joint certification from EIB and GDN as EIB-GDN Fellows in Applied Development Finance

For the 2019-2020 Program Cycle beginning in September 2019, GDN and EIB are particularly interested in recruiting researchers or research professionals with specialization in International Finance or International macroeconomics. The ideal candidates should be first-rate, early career researchers or research professionals at universities, think tanks, government, development institutions, economic consultancy, or in professional transition. The typical profile of an inductee should be as follows:

  1. Academic credentials: Candidates should ideally hold or be close to holding a PhD in Economics, Finance or Business with specialization in International Finance or Open Economy Macroeconomics.
  2. Subject matter knowledge: Candidates should be able to demonstrate through coursework, publications or professional experience advanced knowledge about at least a few of the following: international development finance, exchange rate determination, credit markets, risk management in financial markets, currency exchanges and solutions, volatility, risk and hedging instruments and derivates, with applicability in micro- and SME finance, infrastructure, or other developmental sectors. Candidates should also be familiar, through academic knowledge and/or professional experience, with impact investing, development finance or impact evaluation or assessment.
  3. Ability and willingness to think and work creatively, flexibly and proactively, in cooperation with other partners: candidates should have the ability to work independently and proactively and should be able to demonstrate that, for example through experience in research consultancy or through independent and self-driven collection of field data. Preference will be given to candidates who, in addition to academic credentials, have employment or other substantive experience with the private sector.
  4. Language Skills: Demonstrated professional written and oral communication skills in English. Some of the projects may be in Francophone Africa or the Caribbean, for which fluency in French or Spanish may be required.
  5. Age: The program targets early-career researchers, typically inducting in the 35-40 age-range. However, slightly older, but otherwise qualified, candidates will also be considered.
  6. Gender: Applications from qualified female candidates are particularly encouraged.

Eligibility and Location

The Fellowship is open only to nationals of ACP countries (see link below). While EIB will make every effort to match location with project assignment, Candidate Fellows may be required to travel to countries outside of their home countries.


The program aims to fast track the professional development of promising young researchers and research professionals in the field of Development Finance. Qualified young researchers interested in evaluation will get a practical opportunity to hone their impact assessment skills by working on real-world projects under the mentorship of top international experts and to work with the EIB, GDN, and with young, innovative private sector companies. There is also the opportunity, in some cases, to work together with other research partners. The program is designed to provide career growth and learning opportunities along multiple dimensions, including soft-skills, modeling consumer preferences and business problems, formulating theory-of-change, econometric and methodological issues, and writing skills.
For successful candidates, the program offers the following benefits:

  1. Firsthand experience in the rapidly developing fields of Impact Investing and Development Finance;
  2. The opportunity to apply academic knowledge and training to real world private sector development projects;
  3.  Deepening of subject matter expertise in evaluation methodologies, with mentoring from some of the world’s leading evaluation experts;
  4. Working with two leading international institutions;
  5. Professional certification;
  6. Inclusion in a knowledge network which can work locally in ACP countries for national and regional development; and
  7. Part-time commitment with excellent financial support.

Financial and Non-financial Support

Each researcher inducted into the program will receive a stipend of €15,000 (to cover time costs), along with a grant of up to €10,000 to cover all direct and indirect expenses of conducting the research (including field trips, data collection and analysis). These will be disbursed in installments through the length of the 12-month program cycle and will be tied to deliverables and contingent upon satisfaction of all program requirements. GDN will provide administrative, management and logistical support.

Selection Process

Candidate Fellows will be selected through a three-stage process:

  1. Initial Screening: In this stage, applications will be judged on the following criteria:
    1. Relevance of academic training,
    2. Professional experience,
    3. Private sector experience,
    4. Research experience,
    5. Professional experience in evaluation and impact assessment,
    6. Academic knowledge of evaluation and impact assessment,
    7. Written communication skills and career aspirations, as stated in the Statement of Purpose (SoP), that will be judged on:
      1. Language,
      2. Motivation,
      3. How well the candidate explains the fit of the program to his/her background.
    8. Location, i.e. match with project geographies.
  2. Written Assignment: Candidates who pass through the screening stage will be issued a written assignment designed to test their grasp over basic statistical and econometric concepts,their understanding of impact evaluation (a case-study) and their written communication skills
  3. Interview: Candidates will be ranked on the combined scores they receive in the previous two stages, and shortlisted candidates will be interviewed by skype or over the telephone to assess their oral communication skills and overall fit for the program.  

The profiles of the finalists will be reviewed by the Expert Advisors and EIB for final selection.

The written assignments for Program Cycle II can be downloaded here and here.

How to Apply

The last date for submission of application is 02 August 2019. Candidates are encouraged to apply at the earliest. Applications submitted after 02 August 2019 will be considered only on a contingency basis. Candidates shortlisted for the program will be informed by mid-August.

For more information, contact Anindya Chaudhuri, Senior Economist at [email protected], marking copies to Abhay Gupta, Consultant at [email protected] and [email protected].

For More Information:

Visit the Official Webpage of the Special Recruitment Drive (SRD) in International Finance


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.