The Israeli Ministry of Education, Municipality of Rahat and Social Finance Israel (SFI) announced today the launch of a Social Impact Bond [SIB] to increase the number of students graduating with advanced math in Rahat.
The Fund, which is being raised and managed by New York-based Maycomb Capital, matches private capital with local priorities and public-sector agencies – such as states, public departments or counties – to invest in social and health services that produce measurable outcomes and deliver financial returns to investors.
PFS continues to hold promise to transform the way we address the persistent problems of our day. For the PFS field of projects to achieve success and fulfill these lofty goals, it must reduce the amount of time and resources it currently takes to launch a project. By taking advantage of the two main strengths of universities, research and education, the PFS Lab’s model of identifying promising projects is one way to make progress.
The Social Impact Partnerships to Pay for Results Act (SIPPRA), for the first time, establishes a funding stream and structure to support and advance the implementation of Pay for Success contracting to impact Federal outcomes and related costs.
This month, the state of Connecticut took a big step forward when its Office of Early Childhood announced a new way measure when positive outcomes are achieved for families enrolled in voluntary home visitation services, and how to provide additional financial incentives for the service provider.
PFS is often characterized as an innovative impact investing instrument. At Omidyar Network, having partnered with Social Finance over the last six years, we’ve come to see PFS not only as a tool for leveraging private capital, but perhaps even more importantly, as an approach that can accelerate systems change.
State of Connecticut Office of Early ChildhoodFebruary 1, 2018
The nonprofit Social Finance, a national leader in aligning public investment with outcomes, designed the outcomes rate card structure with OEC with a Federal Social Innovation award. The Governor’s Office supported OEC to win the award in collaboration with the Yale Child Study Center.
In the Southeast, the work has included hospitals investing in affordable housing, community
development financial institutions offering low-cost financing to build community health centers and combat food deserts, and Medicaid offices using Pay for Success finance to pay for prevention.