Social Finance announced today the launch of two new Social Impact Bonds for vulnerable young people and people with severe mental health issues. Social Impact Bonds (SIBs), developed by Social Finance in 2010, raise investment from social investors to fund interventions to improve social outcomes. If outcomes improve, a public service commissioner will pay the investors for their investment. If no success is determined, investors stand to lose their investment. The announcement today brings the number of SIBs developed by Social Finance to eleven investments.
Social Finance is incubating a new initiative, Health and Employment Partnerships (HEP), to support people with mental health problems into lasting employment. One of the most powerful ways for people with health conditions or disabilities to experience recovery is by achieving fulfilling and sustained employment. By integrating health treatment and employment advice engagement with both of these services should improve. Health and Employment Partnerships will bridge that gap. It will support commissioners to source and commission evidence based programmes, provide management, advice and analytics to service providers and will raise social investment in the form of working or risk capital to scale successful interventions.
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