What is Social Impact Bond?, How Does It Work? Example, Purposes, Advantages, and Disadvantages [PDF Inside]
A Social Impact Bond (SIB), also known as a Pay-for-Success contract, is a form of outcome-based contract between a government or philanthropic organization, social service providers, and private investors. SIBs are used to fund social programs that aim to achieve specific social outcomes, such as reducing recidivism rates, improving educational outcomes, or increasing employment opportunities…