PLY: Happy New Year! Here’s looking forward to a record breaking 2016 for SIB structures across the globe and a Peaceful & Prosperous 12 months for us all.
We’re catching up in two installments – today is up to 30th December, tomorrow takes us through New Year and by Wednesday, we’ll be back into daily mode once more.
Today – news from, well, the world, interesting reading in each and every story!
US – Whatever Happened To The Pay For Performance Bonds?
Judy A. Temple – Minnpost
Private investors are spending $70 million dollars to expand cost-effective social services in other states through social impact financing, but none of these investments have been made in Minnesota. Since 2012, private investors in five states are helping state and local governments scale up promising interventions serving hundreds of individuals and families by reducing recidivism, homelessness and unemployment or by expanding preschool programs.
Australia – Interested In What Is Happening With The Social Benefit Bond Pilot Program?
QCOSS
Here is an update provided by the team in Queensland Treasury.
Canada – Every Dollar Changes Lives & Nations, Too
Craig & Marc Kielburger – Shoreline Beacon
The Douglas College program has changed hundreds of lives. It’s also a new investment opportunity for Canada. As of September, the initiative is piloting our country’s first federally-funded national social impact bond.
This public-private partnership between the federal government and Colleges and Institutes Canada (CICan) will use social impact bonds to expand Douglas College’s program to three additional colleges in Saskatchewan, Ontario and Quebec, ultimately helping 400 unemployed Canadians to enter the workforce.
A social impact bond provides a novel way for governments to tackle issues from unemployment to the environment by leveraging the power of private capital. Investors buy into a project just as they might a business start-up.
Results-focused Impact Bonds Can Improve Development Outcomes by Involving the Private Sector
World Bank
Brookings