IMPACT BONDS: Can they deliver better outcomes, faster and cheaper? Panel Discussion, October 4, 2017, The World Bank Credit: Educate Girls
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IMPACT BONDS: Can they deliver better
outcomes, faster and cheaper?Panel Discussion, October 4, 2017, The World Bank
Credit: Educate Girls
Panelists:Emily Gustafsson-Wright, Fellow, Center for Universal Education,
Brookings Institution
Avnish Gungadurdoss, Managing Partner and Cofounder, Instiglio
Diane Mak, Director, Social Finance U.K.
Simon Bell, Global Lead, Finance and Markets GP, World Bank
Chair:Jaime Saavedra, Senior Director, Education Global Practice, World
Bank
Moderator: Samer Al-Samarrai, Program Manager, REACH, World Bank
Credit: Educate Girls
IMPACT BOND PRIMER
IMPACT BOND PRIMER
Impact bonds differ from traditional PbR in
that external investors provide upfront risk
capital in impact bonds
SECTORS: IMPACT BONDS CONTRACTED GLOBALLY
HEALTH
SOCIAL WELFARE
EMPLOYMENT EDUCATION
CRIMINAL JUSTICE
ENVIRONMENT &
AGRICULTURE
SECTORS: IMPACT BONDS IN DEVELOPING COUNTRIES
CONCRETE EXAMPLES OF IMPACT BONDS IN
DEVELOPING COUNTRIES
POTENTIAL AND LIMITATIONS OF
IMPACT BONDS
Some results to date
• Results July
2017
• Reoffending
down by 9%
• Investors repaid
in full
One Service
Peterborough
• Year 2 Results
• Enrollment 88% of
target
• Equivalent to 54%
of outcome
payment
India Educate
Girls
• 1 out of 110
children needed
special education
• Savings of
$281,550 in
Year 1 (investors
receive 95% of
savings)
Utah High
Quality Preschool
• 203 children
returned to
family over 4
years (63% rate
of restoration)
• Coupon payment
of 16% for year
4
Uniting Newpin
Social Benefit Bond
WHEN TO USE AN
IMPACT BOND
What problem are you trying to
solve? Can it be solved by paying for outcomes?
WHEN TO USE AN IMPACT BOND
* An impact bond works particularly well when robust evidence for a specific intervention exists from prior interventions but where it has not yet been tried in a particular location/context.
IMPACT BONDS IN THE CONTEXT OF THE
WORLD BANK
AUDIENCE Q & A
Credit: ADPP
KEY QUESTIONS
• How could this tool help the Bank/Bank’s
clients?
• What have been some of the
challenges/facilitating factors for the
impact bonds the Bank is involved in?
• What would the Bank need to do to take
this forward?
For more information on Brookings impact bonds research: www.brookings.edu/series/impact-bonds/
For more information on Instiglio’swork:www.instiglio.com
For more information on Social Finance U.K.’s work:www.socialfinance.org.uk
Credit: Educate Girls
THANK YOU!
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