Ideas to Action:

Independent research for global prosperity

Development Impact Bonds

Development Impact Bonds

CGD has partnered with UK-based Social Finance to explore a new development financing mechanism, Development Impact Bonds (DIBs). DIBs provide upfront funding for development programs by private investors, who are remunerated by donors or host-country governments—and earn a return—if evidence shows that programs achieve pre-agreed outcomes.

To download the report of the DIB Working Group, please click here.

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DIB Working Group Report

  • The report of the DIB Working Group sets out proposals for Development Impact Bonds, and the Working Group’s conclusions on how this approach could improve the quality and efficiency of public services in developing countries.
  •  A video of the New York launch event is here
  • A summary with recommendations is available here.
  • A two-page briefing note (PDF),
    In Spanish.
    In French.
  • FAQs
  • A recording of a webinar, Development Impact Bonds, What's Next?, featuring Working Group co-chairs Owen Barder and Toby Eccles can be found here
  •  We welcome feedback on this new idea for financing development. Send your comments to

Development Impact Bonds are based on the model of Social Impact Bonds, first launched in the UK as a way to shift incentives and accountability to results, transfer performance risk to the private sector, and increase efficiency in program implementation. The Development Impact Bond Working Group explored how this model can be used to improve international development outcomes and produced recommendations for the design of Development Impact Bonds and development of a market for this approach. To learn more, visit the Development Impact Bond Working Group page.

Briefing Note: Exploring Development Impact Bonds in Nutrition
Workshop Summary: Exploring Development Impact Bonds in Nutrition
DIB Presentation for OECD netFWD
DIB Presentation for RBF Interagency Working Group
DIB Working Group Briefing Note
DIB Working Group Meeting 1 Presentation
DIB Working Group Meeting 2 Presentation