Social impact bonds (SIBs) are a new tool that unlock private finance and public investment so that organisations which are best placed to tackle social problems can do so on a payment by results basis. SIBs enable commissioners to capture the expertise of the Voluntary, Community and Social Enterprise (VCSE) sector in tackling complex problems and only pay for success, they provide the VCSE sector with upfront capital to deliver payment by results contracts, and they enable social investors to use their money to achieve both a social impact and a financial return. Find out how more about how SIBs work here.
The Centre for Social Impact Bonds in the Cabinet Office supports the development of social impact bonds. We do this by:
- building a repository of expert information and guidance on how to develop SIBs
- making available practical tools so that SIBs can be developed easily and cost-effectively
- providing funding for a portion of outcome payments for new SIBs
- showcasing how SIBs are transforming public service delivery and building an evidence base of what works
- stimulating and sharing the latest thinking, research and media coverage on SIBs