Most of development assistance today is delivered through input finance with no guarantee of successful achievement of results. Now imagine that a government could commission for increased employability among a targeted population, narrowed learning gap between boys and girls, more affordable housing in urban settings, or increased connectivity to economic opportunities.
Development and aid contracts need to be reformed in the pandemic era to allow for crisis-related contingencies after COVID-19 forced numerous development projects to adopt remote and virtual approaches, experts said at an event co-hosted by Devex and
GPRBA is actively seeking to ensure that the projects it supports include women as beneficiaries. GPRBA is also undertaking efforts to monitor and evaluate the outcomes to determine how to improve the inclusion of women and girls as project beneficiaries.
A new education funding project using social impact bonds (SIBs) seeks to help increase the number of children ages 3-7 enrolled in preschools in disadvantaged urban areas across Uzbekistan. The planned program is made possible through a $4.85 million grant provided by the World Bank’s Global Partnership for Results-Based Approaches (GPRBA).
Over 75 bilateral cooperation agencies, multilateral development institutions, and private foundations participated in third annual Impact Bonds Working Group (IBWG) held in Washington, DC at the World Bank (February 26-27) and co-organized by GPRBA.
Imagine if you could bring private sector resources and skills to social projects. Impact Bonds (IBs) are an innovative Results-Based Financing (RBF) mechanism that tie financial returns and payments to specific results incentivizing investors and service providers.