Courtesy of the Center for American Progress (link).
The Center for Global Development has published videos from its launch of the Development Impact Bond report in New York. Here is Zia Khan of the Rockefeller Foundation describing his foundation’s interest in DIBs:
The Center for Global Development has released a comprehensive report on development impact bonds. The report offers an excellent description of DIBs, as well as six case studies on DIBs in HIV/AIDS, malaria, and other fields. The report also describes Instiglio’s work on DIBs.
The report was launched at the Rockefeller Foundation in New York and at CGD headquarters in Washington, DC.
Videos of the New York event are available here.
Michael Eddy of Instiglio is presenting today on social impact bonds in Latin America at the FOROMIC 2013, the Inter-American Forum on Microenterprise, in Mexico. Michael is a panelist on the SIB panel alongside Nancy Lee of the Multilateral Investment Fund at the IDB, Jane Newman of Social Finance UK, Jose Carlos Rodríguez Pueblita of Harvard, and Tamsyn Roberts of the UK government’s Centre for Social Impact Bonds. A full agenda is available here.
Instiglio has received an Honorable Mention by the Unorthodox Prize competition that supports innovative ideas that “will have a transformational impact on the lives of the world’s most disadvantaged people.” The Prize is backed by an unnamed, San Francisco-based family foundation seeking to provide philanthropic investment and support for undiscovered opportunities.
Congratulations to Evidence Aid, the winner of the 2013 Unorthodox Prize! Evidence Aid is an organization that focuses on bringing evidence-based practices to the fields of disaster relief and other humanitarian emergencies. You can read more about them here.
Today’s edition of the Financial Times features Instiglio’s collaboration with Educate Girls on a social impact bond to fund the education of marginalized girls in Rajasthan, India. The article, which follows two other articles that have also featured Instiglio’s work in India, describes a project of “about $500,000″ that aims to demonstrate that the social impact bond, first created in the UK, can be applied to social problems in international development. The article describes the benefits of social impact bonds in development:
Yet the benefits could be substantial. Social impact bonds tap into new sources of funding, mostly from the private sector. They are transparent, in the sense that no one is paid until they deliver. And by focusing on outcomes they are expected to encourage innovation.
“If you get it right, this approach can be quite powerful in delivering greater rigour and new perspectives to solve complex problems, although it’s really not easy to do,” says Ben Jupp, a director at Social Finance, a UK-based group that has pioneered the bond approach, and also examined its possible use in emerging economies.
“The real benefit is that they can bring together different people with different skills . . . while it could also appeal to a new generation of philanthropists in countries like India, who could be attracted by just this sort of innovative approach, which might be the most important benefit of all.”
Social Finance Israel, an affiliate of Social Finance UK, has announced its intent to launch a Social Impact Bond in Israel to help reduce the rate of unemployment and lower economic difficulties within the ultra-orthodox (Haredi) communities in Israel. Increasing the employment opportunities of Haredi directly benefits the government of Israel by reducing the necessary income support subsidies and increasing tax revenues.
Instiglio released today an interactive map charting the development of Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs) worldwide, as a free resource. This map displays both Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs).
The map and the underlying data can be viewed here.
Instiglio classifies SIBs and DIBs into three stages of development: exploration, design, and implementation. Only SIBs in design or implementation are depicted in the map. The data used in the creation of these maps come from publicly-available documents, and citations are available upon request.
NextBillion has published an article that describes Instiglio’s work on social impact bonds and payment-by-results contracts in India. The article discusses that work in the context of challenges that impact investors face in international development, and proposes social impact bonds as one potential solution to some of these challenges. Read the article here.
El Tiempo, one of Colombia’s nationally-circulated newspapers, featured Instiglio today. In an article that explores the decision of international firms to set up their headquarters in Medellin, Instiglio co-founder Avnish Gungadurdoss talks about the reasons why the city is a great hub from which to launch social impact bonds in international development. Read the article here.
- Donations will be routed through Instiglio's fiscal sponsor IDinsight, Inc.
- A map of social impact bond activity in the United States
- Center for Global Development DIB videos
- The Center for Global Development publishes report on development impact bonds
- Instiglio co-founder Michael Eddy speaking about SIBs at Foromic in Mexico
- The Unorthodox Prize awards Instiglio an Honorable Mention
Subscribe to Updates