PLY: It’s a bonanza in the DIB/PFS/SIB-space today, you cannot afford to avoid scrolling through all today’s excellent stories and the uber-bounteous news from the excellent offices of Social Finance US amongst them…. Keep up the great work, SIB-world!
Pay for Success In South Carolina & Connecticut
Social Finance US
On February 16, Social Finance announced two new Pay for Success projects: the South Carolina Nurse-Family Partnership Pay for Success project and the Connecticut Family Stability Pay for Success project. Social Finance served as the intermediary in both landmark projects. The announcements demonstrate the bipartisan appeal of Pay for Success: both Republican Gov. Nikki Haley (SC) and Democratic Gov. Dan Malloy (CT) have embraced Pay for Success as an approach that cuts across political ideologies and offers innovative ways to address complex social challenges.
Social Finance US
South Carolina – Gov. Nikki Haley Launches Landmark “Pay for Success” Project to Improve Maternal and Child Health, Increase Government Accountability – press release.
Connecticut – White House Drug Policy Director, Governor Malloy and Department of Children and Families Commissioner Katz Launch New Pay for Success Initiative – press release.
A New Public Finance Tool to Help the Most Vulnerable
Tracy Palandjian & David Gergen – TIME
Tracy Palandjian is CEO of Social Finance, the nonprofit that developed the South Carolina and Connecticut Pay for Success projects.David Gergen is a professor of public service and co-director of the Center for Public Leadership at the Harvard Kennedy School.
The government only pays for results, and investors only benefit if society does.
World Bank’s Planned Development Impact Bond With Palestinian Authority Could Kick-Start Market
Vibeka Mair – Responsible Investor
The World Bank has announced plans to launch its first development impact bond – a type of social impact bond – to tackle youth unemployment and skills development in Palestine in collaboration with the Palestinian Authority, the limited, self-governing body in the occupied territories.
From Incarceration to Incorporation: DC’s Bold Plan for Improved Economic Mobility
Etienne C. Toussaint – emPower magazine
The Incarceration to Incorporation Entrepreneurship Program Act offers a unique platform for Washington, D.C. to not only invest in the lives of ambitious citizens struggling to find employment, but also empower communities seething with the “righteous indignation” of a frustrated generation. Understandably, there is a divide between providing beneficial social services and minimizing taxes that may impede economic growth. Funding this initiative requires both a multi-stakeholder effort and an innovative solution. Recent efforts by foundations, corporations and governments across the globe demonstrate that pay-for-success contracts and social impact bonds, or SIBs, can serve as a potential pathway to help D.C. bridge that gap.