Home Resources News

First Local Authority Social Impact Bond awarded to improve outcomes for vulnerable young people on the edge of care

Social Finance has been awarded a contract by Essex County Council to deliver a Social Impact Bond to provide therapeutic support and improve outcomes for adolescents at risk of going into care. Essex County Council is the first local authority to commission a Social Impact Bond in Children’s Services.

Social Finance has raised a total commitment of £3.1m to fund interventions for 11-16 year olds at the edge of care or custody so that the young people can safely remain at home with their families. The investment is provided at risk by social investors, such as cornerstone investors Big Society Capital and Bridges Ventures, whose financial return is aligned to the positive social impact of delivering a better future for vulnerable adolescents.

 

Sign up for the Social Finance newsletters

 

 

We'll keep your data secure and won't share it outside of Social Finance, ever. For more details read our privacy policy.