We designed and launched a social impact bond that aimed to improve the economic outlook for young adults through skills training and support into employment. Core SIB outcomes comprise key milestones for its participants, such as secondary school completion, entry into a first job, and sustained employment for four and 12 months.
To achieve these targets, SIB service providers provide a mix of soft and technical skills training and mentoring to help youth find and sustain a job, and worked with employers to understand their needs and facilitate the integration of the young participants into their companies.
The Buenos Aires SIB was implemented during a period of significant macroeconomic upheaval in Argentina and suffered the full impact of the Covid-19 pandemic until it closed. Despite the adverse conditions, outcomes payments were paid in full to the social investors, which provided the upfront capital that financed the SIB. The strong partnership between them and the service providers, their joint commitment to the participating youths and the operational flexibility afforded by the SIB instrument ensured that all social outcome targets were surpassed.