|SOCIAL IMPACT BONDS||
THE INTERNATIONAL SOCIAL SECTOR
The first Social Impact Bond (SiB) was launched in the United Kingdom in 2010 by Social Finance UK, sister company of Social Finance Israel, in order to tackle recidivism rates among ex-offenders. Since then, their innovation and appeal – due to their ability to provide high cost savings as well as effective social results – has encouraged governments across the globe to create new SiB projects to tackle some of the most intractable social issues our world faces today.
Currently there are close to thirty SiB projects – which have either been implemented or are in development – which have been adopted by the governments of UK, USA, Australia, Canada, Germany and Italy. These SiBs tackle a wide range of social issues, from prisoner rehabilitation, at-risk-youth, homelessness, unemployment and healthcare.