Instiglio presents development impact bonds at development effectiveness conference in Mexico City

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GPEDC_English_ColourExciting news for development impact bonds has come out of this week’s High Level Meeting of the Global Partnership for Effective Development Cooperation (GPEDC) in Mexico City.

Instiglio co-founder and partner Michael Eddy presented development impact bonds (DIBs) in a focus session at the conference. In that session, titled “Partnering with Private Investors for Development Impact,” Eddy discussed Instiglio’s work with the education DIB in India. That project brings together the Children’s Investment Fund Foundation and the UBS Optimus Foundation to design, launch, and thoroughly evaluate a DIB focusing on the education of girls in Rajasthan. The project will be announced this summer. (For more information about this DIB, see our projects page.)

Another major piece of news at the conference came from the Justine Greening, the UK’s Secretary of State for International Development. Greening announced support for DIBs, which, according to the aid agency’s press release, will come in three forms.

First, the international development agency will commit GBP 1.5 million to the design the sleeping sickness DIB in Uganda. This project, which was announced in the Center for Global Development’s main DIB report last year, seeks to treat cattle infected with the disease to prevent its spread to humans.

Second, the agency will bring together “investors, Governments and aid agencies to design new investments in the coming months.” And finally, the agency will create “new online ‘open source’ knowledge platform to share our findings to inform further investment.”

With this announcement, DFID becomes the first international development agency to make a formal commitment to being an outcome payer in a DIB. (An “outcome payer” is an organization that enters into a contract to pay only for social outcomes that have been achieved in a DIB. For more about DIB terminology, see our section on DIBs.)

See the video of the GPEDC plenary where Justine Greening made her announcement:

IDB to Test Social Impact Bonds in Latin America and the Caribbean

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our-people---homepage-3---dominican-republic---the-gomez-family-21230“The Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, will launch a $5.3 million program to test a new social sector financing model called Social Impact Bonds in Latin America and the Caribbean. Social Impact Bonds offer opportunities for private investors to participate in developing and delivering services to low-income or vulnerable populations.”

Read more about this exciting development for SIBs in Latin America here.

With this fund, the largest Development Agency in Latin America is committing to putting the welfare of vulnerable communities at the heart of its funding practices more than ever before. SIBs offer a new rule of engagement with social programs, where rigorously measured outcomes define rewards and sanctions. With this fund, the IDB is leading the region to a more accountable development funding practice, which can bring new hopes for social programs and vulnerable communities in the region.

Instiglio’s mission to Paraguay

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During the first week of December 2013, Instiglio’s Michael Eddy and Juliana Arbelaez traveled to Paraguay at the invitation of the Moises Bertoni Foundation, as part of the organization’s 25th year celebration.

This trip was made possible through the sponsorship of USAID, the U.S. Embassy in Paraguay, Reed J. Oppenhaimer Foundation, Avina, Seeds for Democracy Foundation, and Social Progress Index.

Instiglio met with leaders in the public and private sector and with civil society organizations that expressed great interest in social impact bonds, particularly in the fields of education, potable water, basic sanitation, rural development, and workforce development.

Instiglio’s visit to Paraguay was covered in the mainstream media by ABCLa Nación and Última hora


Misión de Instiglio a Paraguay

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Durante la primera semana de diciembre de 2013, Instiglio, representado por Michael Eddy y Juliana Arbeláez, viajó a Paraguay por iniciativa de la Fundación Moisés Bertoni, en el marco de la celebración de sus 25 años.

Esta misión fue posible gracias al patrocinio de USAID, la Embajada de Estados Unidos en Paraguay, la Fundación Reed J. Oppenhaimer, la Fundación Avina, Semillas para la democracia y el Índice de progreso social.

Instiglio sostuvo reuniones con agentes del sector público, privado y organizaciones de la sociedad civil que mostraron gran interés por el modelo financiero y contractual de los bonos de impacto social, particularmente en el sector de educación, en agua potable y saneamiento básico y en temas asociados a desarrollo rural y empleabilidad.

La visita de Instiglio a Paraguay fue cubierta por los principales medios de comunicación como el diario abc, La Nación y Última hora.

The Center for Global Development publishes report on development impact bonds

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development-impact-bonds_0The 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.