Social Impact Bonds (SIB) in education is a concept "whereby private investors pay up front for training and are repaid by the government if the training is successful in achieving pre-established outcomes." This report (92 page PDF) is an interim report on some SIB projects. In one, "led by Colleges and Institutes Canada, Essential Skills Social Finance (ESSF) offers ES training to low-skilled unemployed Canadians, through three College delivery partners. Private investors pay up front for the training, and are repaid up to 15% return on their investment." In another, "Skilling UP, led by Alberta Workforce Essential Skills Society (AWES)... employers receive up to 50% of their upfront investment in training for their workers, if targeted literacy gains are achieved." See also: Government of Canada, Social Finance; Non-profit Finance Fund, Activity Map of Pay-for-Success Projects (USA only); OECD, Social Impact Investing.
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