Momentum continues in the Commonwealth to develop the SIB market. Now New Zealand is joining Britain, Australia and Canada in the field…
New Zealand Next To Try Social Benefit Bonds
bankingday.com
New Zealand’s Ministry of Health has been assessing the viability of social benefit bonds over the last financial year. During this time, two successful social benefit bond issues have been completed in New South Wales.
The Ministry of Health is well aware of the success achieved in New South Wales and also in the UK and US with similar programs. Canada is also investigating the use of social benefit bonds.
In New Zealand, the financial instruments used to finance social benefit programs provided by private agencies will be referred to as Social Bonds. The work of the Ministry of Health in this area is being supported by NZ$300,000 of public funding.