The New South Wales government in Australia has made some
progress with its social impact bond program. NSW started looking at SIBs about
a year ago. Here are some details on their work so far.
SIB 1: Foster Care
Size: $10 million
Population: 550 families
Duration: 5 years
Target outcome: Number of days that children spend in foster
care
Government: NSW, Australia
Nonprofits: Benevolent Society
Investors: Westpac Corporation and the Commonwealth Bank of
Australia
Intermediary: Mission Australia and Social Finance
(different organization from Social Finance UK)
SIB 2: Foster Care
Size: $10 million
Population: Unknown number of children up to 5 years old and
their parents
Duration: 7 years
Target outcome: Number of days that children spend in foster
care
Government: NSW, Australia
Nonprofits: UnitingCare Burnside
Investors: Westpac Corporation and the Commonwealth Bank of
Australia
Intermediary: Mission Australia and Social Finance
(different organization from Social Finance UK)
SIB 3: Youth
Recidivism
Size: $7 million
Population: 500 young adult repeat offenders
Duration: 6 years
Target outcome: Unknown
Government: NSW, Australia
Nonprofits: Unknown
Investors: Unknown
Intermediary: Mission Australia and Social Finance (different
organization from Social Finance UK)
Sources:
http://afr.com/p/national/westpac_cba_embrace_social_bonds_myi01zs3Mzr2EVCbfTJrkM#
http://www.csi.edu.au/news/Successful_bids_for_Social_Impact_Bonds_in_NSW_announced175.aspx
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