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 Classification
-
Total Cost
USD 14,281,000.00
Country Counterpart Financing
USD 9,000,000.00
Original Amount Approved
USD 5,281,000.00