Social Impact Bond (SIB) pilot launched
The Social Finance-run SIB pilot is the first scheme that uses new funding from investors outside government to reduce reoffending with offenders. Investors will only receive returns on their investment from the Ministry of Justice if they reduce reoffending by a set amount (‘payment by results’). The Big Lottery Fund is providing £6.25m funding to help pilot the SIB and initial investors in the bond include charitable foundations and private investors. Visit www.socialfinance.org.uk.
