Video: Toby Eccles explains Social Impact Bonds
This is a video of Toby Eccles, founder of Social Finance (UK), explaining the Social Impact Bond (SIB) pilot undertaken in U.K. in spring 2010. The first such program in the world, it is a six-year pilot aimed at reducing reoffending rates of prisoners after they have been released. SIBs are an innovative method of financing social outcomes through collaboration between government, private investors, and social service agencies.
Last week, the first preliminary evaluation report from this SIB was released by the Ministry of Justice, United Kingdom. Based on interviews of those involved in developing and implementing the SIB, it aims to identify early lessons in SIB implementation.
We invite you to share your thoughts about this video below. What did you learn from the presentation on Social Impact Bonds? How does this fit with your work?