DEVELOPMENT IMPACT BOND WORKING GROUP REPORT

DEVELOPMENT IMPACT BOND

WORKING GROUP REPORT

CONSULTATION DRAFT

CONTENTS

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Working Group Membership

Foreword

Summary

Development Impact Bond Working Group Recommendations

Section One - What are Development Impact Bonds and when

could they be used?

Section Two - Applying Development Impact Bonds

Case Study 1: Reduction of Rhodesian sleeping sickness in

Uganda

Case Study 2: Antiretroviral Treatment as Prevention of HIV and

TB in Swaziland

Case Study 3: Low Cost Private School Sector in Pakistan

Case Study 4: Access to Quality Secondary Education in Uganda

Case Study 5: SME Pipeline Generation and Value Creation

Case Study 6: Energy Efficiency Implementation

Section Three - Cross-cutting Issues for Implementing

Development Impact Bonds

References

Glossary

Acronyms

Development Impact Bond Working Group Report: Consultation Draft

INNOVATIVE FINANCING MECHANISMS

SUCH AS SOCIAL IMPACT BONDS STAND TO

IMPROVE THE EFFICIENCY OF DEVELOPMENT

ASSISTANCE IN THE COMING YEARS ¨C AND

THAT IS WHAT HAS BROUGHT US TO THE

WORKING GROUP. AS A VITAL COMPONENT

OF THE IMPACT INVESTING SECTOR,

OUTCOMES-BASED FINANCE CAN BE A

POWERFUL MEANS OF ENHANCING THE

EFFECTIVENESS OF AID AND DEVELOPMENT

FINANCE

Elizabeth Littlefield, May 2012

Center for Global Development & Social Finance

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June 2013

Working Group Membership

Owen Barder, Center for Global Development (Co-chair)

Toby Eccles, Development Director, Social Finance (Co-chair)

Elizabeth Littlefield, Overseas Private Investment Corporation (Co-chair)

Bob Annibale, Citigroup

Vineet Bewtra, Omidyar Network

Nancy Birdsall, Center for Global Development

Chris Egerton Warburton, Lion¡¯s Head Global Partners

Rebecca Endean, UK Ministry of Justice

Stefan Isaksson, Swedish Ministry of Foreign Affairs

Kippy Joseph, Rockefeller Foundation

Dan Kress, Bill & Melinda Gates Foundation

Susan McAdams, World Bank

Steve Pierce, US Agency for International Development

Oliver Sabot, Kepler/Slingshot

Sonal Shah, Board Member Social Finance US/Independent

Smita Singh, Board Member Center for Global Development/

Independent

Rachel Turner, UK Department for International Development

Peter Wheeler, Board Member Social Finance UK/Independent

The Working Group was supported by a secretariat including:

Rita Perakis and Elina Sarkisova from the Center for Global Development

and Diane Mak, Eleanor Nettleship, Peter Nicholas and Louise Savell

from Social Finance.

Working Group members serve on a voluntary basis in an individual

capacity and their affiliations are listed for purposes of identification

only. This is a consultation draft and is subject to change in the light

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Center for Global Development & Social Finance

Development Impact Bond Working Group Report: Consultation Draft

of suggestions and comments; it should not be considered as the final

conclusion of the Working Group or its individual members.

ACKNOWLEDGEMENTS

The Center for Global Development extends its thanks to its board of

directors and funders for contributions in support of this work. Social

Finance would also like to extend its thanks to the Omidyar Network

and Rockefeller Foundation for their generous financial support which

enables this work to happen.

We would also like to thank Working Group members for their generous

contributions of time, insight and expertise over the course of three

challenging and engaging meetings.

The co-chairs and members would like to thank the many individuals

and organisations that have participated in meetings and discussions

about these ideas, and so contributed to the thinking of the Working

Group. We are also grateful to the following organisations for their

support in developing the DIB case studies:

Center for Global Development & Social Finance

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