SIBLAC - Social Impact Bond Pilot Facility
This Facility will contribute to the MIF's systemic impact objective by introducing a new model to LAC through the launch of the first social impact bonds and pay-for-success contracts. The Facility will support SIBs, which will intended impacts include improved living conditions and social outcomes of poor and vulnerable populations, as well as costs-savings and greater value for money in public spending and scaled up funding for social programs implemented by NGOs and services providers.

Project Detail

Country

Regional

Project Number

RG-X1215

Approval Date

March 12, 2014

Project Status

Implementation

Project Type

Container

Sector

SOCIAL INVESTMENT

Subsector

HUMAN RESOURCES & WORKFORCE DEVELOPMENT

Lending Instrument

-

Lending Instrument Code

-

Modality

Facility

Facility Type

FFG (Facility Financing for Grants)

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 14,281,000.00

Country Counterpart Financing

USD 9,000,000.00

Original Amount Approved

USD 5,281,000.00