Social impact bond definition
social impact bond
(ˈsəʊʃəl ˈɪmpækt bɒ)
A public-private partnership where one or more investor(s) provide “upfront” capital for the realization of public projects that generate verifiable social and/or environmental outcomes. Under a typical model, the Government contracts an intermediary (or project sponsor) to implement a social/environmental project in exchange for a promise of a payment contingent on the social outcomes delivered by the project.
Source: United Nations Development Programme
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