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Working Paper "A Primer on Social Impact Bonds"

22 Octobre 2015|Note d'information

Inés de la Peña, forthcoming in Financing for Development Series, ECLAC


A social impact bond is an innovative type of multi-stakeholder contract that aims to redistribute both risk and benefits from investment in social programs, in order to generate greater social impact. As of 2014, social impact bonds (SIB) have been developed in several countries, with at least 25 projects commissioned around the world. This paper provides a global perspective of SIB’s development, and a first glance at their potential for Latin America.


Table of Contents

PART I – An overview of SIB
A) What are social impact bonds? - The structure of SIB - The stakeholders - Logic & expected benefits
B) SIB around the world - Peterborough - NYC - General Empirical Conclusions

PART II – SIB LAC: experience and challenges
A) Early development, what has been done - Antioquia’s project to tackle school retention. - IADB - Specific benefits for LAC.
B) Challenges for further development - High Cost - Institutional context and political issues - Financing




This document has been prepared by Ines de la Peña, consultant of the Financing for Development Unit of the Economic Development Division, Economic Commission for Latin America and the Caribbean (ECLAC).

The views expressed in this document, which has been reproduced without formal editing, are those of the authors and do not necessarily reflect the views of the Organization.