PLY: Various SIB programs funded from the US SIF while we have another post about the useful road map from Instiglio which we first mentioned last week.
SIF – Pay for Success: Keeping The Momentum Going
Deborah De Santis – The Huffington Post
I’ve blogged before about the far-reaching impact of the Social Innovation Fund (SIF) and how it could transform the ways we address some of society’s biggest challenges.
In 2014, CSH received $750,000 from the SIF, a program of the Corporation for National and Community Service (CNCS), to work with subgrantees across the country to help us build Pay for Success partnerships – bringing to more communities supportive housing, a proven, effective intervention for individuals and families in need of stable housing and services such as healthcare, behavioral health recovery, and job training.
Today, in conjunction with SIF, we announced our new Pay for Success subgrantees – state governments, communities and providers in every corner of our nation dedicated to building more supportive housing on the foundation of Pay for Success principles. Our subgrantees are located in Austin, Texas; Camden County, New Jersey; Washington State; New York State; New Mexico and San Diego, where the public housing commission (PHA) there is taking the local leadership role.
CSH is proud to be an intermediary for the SIF Classic program as well as a grant recipient of one of its Pay for Success awards.
The First Legal Road Map For Social Impact Bond Practitioners
Catalina Geib – Center for Global Development
When designing and implementing Social Impact Bonds (SIBs), practitioners and policy innovators in the developing world will inevitably face the challenge of understanding and adapting SIBs to each government’s legal jurisdiction. For example how do tax regulations vary for investors funding service providers? Or what is the nature of a particular government’s contract relations with social services? Until very recently, practitioners did not possess any guidance or framework that would help them tackle these significant legal challenges.
The “Legal Road Map for Social Impact Bonds in Developing Countries” attempts to change that: it comprises an in-depth legal analysis across 7 jurisdictions namely Colombia, Mexico, South Africa, Mauritius, India, Chile and Brazil. The report marks the completion of a research project initiated by Instiglio—the non-profit intermediary working on several SIBs, including the Education DIB in India— which later evolved into a cross-cutting analysis by 5 legal firms. Its aim is to first provide a thorough and methodological document tailored to each partner of a SIB or DIB – investor, service provider, government and intermediary. Second, it offers recommendations in the context of various jurisdictions, in order to better mitigate and calculate risks involved. It illustrates how legal and procurement systems need to shift to allow publicly-funded social programs to work for those who need them through results-based financing.