Development Impact Bonds

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Development Impact Bonds (DIBs) finance development programs with money from private investors who earn a return if the program is successful, paid by a third-party donor. The outcomes to be measured are agreed upon at the outset and independently verified. With greater focus on outcomes instead of inputs, DIBs create space for more innovation, local problem-solving, and adaptation. CGD and Social Finance UK jointly convened the Development Impact Bond Working Group and released a seminal report about the rationale for, and technical design of, Development Impact Bonds and how to create a market for this approach.