A bit of basic introduction revisited to finish the week – but hey it is nearly Christmas, and we are in the middle of Hanukkah (all the best to everybody celebrating) and yet still there is some content daily for the SIB movement…that is very encouraging!
Social Impact Bonds: A Public-Private Solution To Social Problems
Cohen & Grigsby, P.C.
What are social impact bonds (SIBs)? They are a relatively new tool in the field of social finance–public private partnerships that have been established in the United States and throughout the world to address recurring problems associated with all kinds of social issues, including, but certainly not limited to, low-income students’ access to early childhood education, juvenile delinquency, unemployment, homelessness, and prison recidivism.
The goal of SIBs, sometimes referred to as “pay-for-success” financing, is to transition from government-funded remedial activities to government-funded preventive activities in the delivery of social and educational services. SIBs cannot be used to address every social ill, but they provide a results-driven, data-based approach to solving social problems that government has struggled to solve on its own.