2. It was first implemented in England. The first social impact bond to be introduced was launched to target recidivism rate among young men near London. Social Finance UK was the intermediary to deliver better outcomes for lower cost. The first SIB yielded great results.
3. It has other names. It is also known as Pay for Success Bond or a Social Benefit Bond.
4. MA and NY have implemented in the US. The SIB’s addressed issues of recidivism and homelessnes.
5. The goal is to target institutional capital. Beyond using philanthropic capital, Social Finance Founder Tracy Paladjin says that the goal is to attract traditiona/institutional capital to fund SIB’s.