CGD's Development Impact Bonds working group is mentioned in an article on Social Impact Bonds.
Over the past year, Instiglio has been designing some of the first social impact bond (SIB) projects to be implemented in developing countries. Although this work is preliminary and ongoing, we would like to share five lessons that have come out of this process so far.
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Due to the high upfront costs related to the design and implementation of SIBs, development agencies can play an important role in getting the ball rolling. If they can come in as early funders of legal analysis and feasibility studies, they may be key players in allowing governments to overcome some of the early hurdles in the process.
Development agencies also have an instrumental role in the SIB variant known as the Development Impact Bond. In this arrangement, development agencies, rather than governments, pay service providers or intermediaries only if the latter achieve predetermined outcomes. The Center for Global Development has created a working group to explore that arrangement.