Social Impact Bonds in Latin America: IDB Lab's Pioneering Work in the Region: Lessons Learnt

2021 ◽  
Author(s):  
Alma Agusti Strid ◽  
James Ronicle
Keyword(s):  
Latin America ◽  
Social Impact ◽  
Technical Note ◽  
Social Programs ◽  
Middle Income ◽  
Advantages And Disadvantages ◽  
Lessons Learnt ◽  
Retrospective View ◽  
Social Impact Bonds ◽  
Set Up

In recent years, Latin America has seen the introduction of innovative pay-for-success mechanisms to fund social programs, including Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs), outcome-based contracts that incorporate the use of private financing from investors to cover the upfront capital required for a provider to set up and deliver a social service. In this context, IDB Lab established a SIB Facility in 2014 to promote the focus on outcomes in social programs and increase outcomes-based commissioning. The SIB Facility has resulted in IDB Lab providing support to developing SIBs in Colombia (first SIB launched in a middle-income country), Argentina, Chile, Mexico and Brazil. Since then, several employment SIBs have launched in Colombia and Argentina and prefeasibility studies for SIBs on other topics are currently underway in Chile. This Technical Note aims to capture the lessons learnt from developing SIBs in Latin America, focusing on the five countries where the SIB Facility played a pioneering role. The study takes a retrospective view in examining what has been done and a prospective view in considering how challenges can be overcome and how lessons learnt might be considered within the IDB Lab, both at SIB level and at ecosystem level looking at the SIB ecosystems that have started to emerge. In the study, we find that the SIBs that have launched in the study countries were well designed and that there had also been thorough consideration of the advantages and disadvantages of the model.

scholarly journals Social Impact Bonds as a Funding Method for Health and Social Programs: Potential Areas of Concern

2018 ◽  
Vol 108 (2) ◽  
pp. 210-215 ◽  
Author(s):  
Amy S. Katz ◽  
Benjamin Brisbois ◽  
Suzanne Zerger ◽  
Stephen W. Hwang
Keyword(s):  
Social Impact ◽  
Social Programs ◽  
Social Impact Bonds ◽  
Areas Of Concern

scholarly journals Social Impact Bonds: Development Prospects in the Russian Federation

2020 ◽  
Vol 14 (2) ◽  
pp. 91-100
Author(s):  
D. G. Mirakyan
Keyword(s):  
Budget Deficit ◽  
Social Impact ◽  
Social Issues ◽  
Social Bonds ◽  
Social Programs ◽  
State Budget ◽  
Social Impact Bonds ◽  
The Usa ◽  
The Russian Federation ◽  
Development Prospects

Amid the state budget deficit, there is a problem of financing social projects. In this regard, new sources of extrabudgetary funding for social issues need to be sought. Financial instruments capable of implementing various social programs include social bonds. This study identifies the main characteristics of social impact bonds (SIB): fundamental principles, mechanism of work. The current work describes the practice of implementing social impact projects on education, poverty, ecology, etc., presenting the experience of the USA and several European countries. This study analyses Russia’s present state and prosperities in the development of SIB projects. The research defines the unique catalyst-funds role in processes of impact investment, as well as the suitability of their creation in Russia. The author analyses opportunities and likely risks from social impact projects realization.

scholarly journals Social impact bonds: Financing grassroots sports

2021 ◽  
Vol 25 (6) ◽  
pp. 199-211
Author(s):  
I. V. Solntsev
Keyword(s):  
Physical Activity ◽  
New York ◽  
Social Impact ◽  
Population Level ◽  
Recidivism Rate ◽  
Foreign Experience ◽  
Advantages And Disadvantages ◽  
Social Impact Bonds ◽  
Interaction Scheme ◽  
Limited Application

This paper aims to analyze the foreign experience of using social impact bonds (SIB) and formulate proposals for the application of this tool in financing projects aimed at developing mass sports and increasing physical activity on a national scale. The scientific novelty of the article is confirmed by the limited application of such a mechanism in Russia and its insufficient study. This research aims to fill this academic and applied gap. The author uses the methods of deconstruction and aspect analysis. The article analyzes in detail the foreign experience of using social impact bonds, reveals the advantages and disadvantages of this model. In the absence of SIB sports projects, the model of social impact bonds is considered through the example of a New York City-based program aimed at reducing the recidivism rate among young people. This example allowed the author to describe the interaction scheme for all participants and stakeholders and to illustrate related advantages and disadvantages. In the future, this model can be introduced into Russian practice and used as a model for launching a similar project in the field of grassroots sports. The analysis of successful projects implemented abroad allowed the author to substantiate the possibility of using social impact bonds in financing programs aimed at increasing population levels of physical activity. A system of target indicators is proposed, including such a metric as social return on investment (SROI). The author describes in detail the methodology for calculating SROI and provides examples of calculating this indicator for mass sports projects. The author concludes that the advantages of SIB prevail over the disadvantages and about the high potential of this tool. Further research in this area can be aimed at clarifying the methodology for calculating the SROI for sport interventions promoting physical activity at the population level and evaluating specific projects in the field.

Abstract 1122‐000139: Impact of COVID‐19 on Acute Ischemic Stroke Treatment in Latin America

2021 ◽  
Vol 1 (S1) ◽  
Author(s):  
Tanusri Gudavalli
Keyword(s):  
Latin America ◽  
Ischemic Stroke ◽  
Acute Ischemic Stroke ◽  
Latin American ◽  
Stroke Care ◽  
Middle Income ◽  
Stroke Treatment ◽  
Barriers To Access ◽  
Set Up ◽  
Number Of Treatment

Introduction : Acute ischemic stroke is one of the leading causes of death and disability in the lower and middle income countries (LMIC). The emergence of COVID‐19 has negatively impacted medical care, specifically AIS treatment, in many parts of the world. In this study, we investigated AIS treatment barriers in high COVID‐19 incidence regions in Latin America. Methods : In our study, we organized the 21 Latin American regions based on the number of COVID‐19 cases from the highest to the lowest. In August 2020, Brazil had the highest number of COVID‐19 cases which was 2,736,298 while Belize had the lowest number of COVID‐19 cases which was 57. Taking the top 5 countries with the highest COVID‐19 cases (Brazil, Peru, Chile, Colombia, and Argentina), we compiled a list of neurologists, neurosurgeons, and neurointerventionalists involved in stroke care. We then sent 100 of these clinicians a survey to understand the effects of the pandemic on stroke treatment in their hospitals. Following the survey, we requested the doctors to set up an interview to delve deeper into the barriers to access to AIS treatment. Out of the 100 clinicians contacted, 16 filled out the survey and 14 doctors set up an interview with us. Results : Using the survey results and the interview data, the top‐5 barriers mentioned were transportation, disease awareness, rehabilitation, shortages in staff, and fear among the public about contracting COVID‐19 at the hospital. About 62% of the doctors indicated that people are scared of coming to the hospital due to the high COVID‐19 cases. Furthermore, 60% of the doctors mentioned that there has been a lack of staff at hospitals which causes a reduction in the number of treatment procedures performed, especially mechanical thrombectomies. Moreover, 50% of the doctors said that the main barrier was transportation delay, which results in time lost before treatment. About 50% of the doctors also mentioned that most of the population does not know what AIS is or its symptoms, resulting in fewer patients seeking appropriate care. Finally, 50% of the doctors said that there has been no sufficient rehabilitation. Many rehab units/hospitals have been converted into COVID‐19 hospitals due to the large number of COVID‐19 patients. Therefore, after a patient has received stroke treatment, they have not been able to recover back to their original healthy status. These barriers have overall decreased AIS treatments in hospitals and have negatively impacted patients who have experienced AIS. Conclusions : Overall, the emergence of COVID‐19 has negatively impacted AIS treatment in regions in Latin America with the highest COVID‐19 cases. Hospitals faced several barriers during the pandemic making it difficult for staff to adjust to those specific circumstances. Based on recommendations that doctors have provided us, we are currently working with doctors in Peru to launch an app that tackles the transportation, educational, and rehabilitation barriers. This app will allow patients to connect with doctors online and perform rehabilitation exercises at the comfort of their home while also being able to learn more about stroke.

scholarly journals “Let’s Not Have the Perfect Be the Enemy of the Good”: Social Impact Bonds, Randomized Controlled Trials, and the Valuation of Social Programs

2021 ◽  
pp. 016224392110420
Author(s):  
James W. Williams
Keyword(s):  
Social Life ◽  
Social Impact ◽  
Controlled Trial ◽  
The United States ◽  
Future Research ◽  
Social Programs ◽  
Social Investment ◽  
Program Outcomes ◽  
Randomized Controlled ◽  
Social Impact Bonds

This article uses the case of “social impact bonds” (SIBs) to explore the role of social science methods in new markets in “social investment.” Pioneered in the UK in 2010, SIBs use private capital to fund social programs with governments paying returns for successful outcomes. Central to the SIB model is the question of evaluation and the method to be used in determining program outcomes and investor returns. In the United States, the randomized controlled trial (RCT) has been the dominant method. However, this has not been without controversy. Some SIB practitioners and investors have argued that, while this may be the perfect tool, the need to grow the SIB market demands a more pragmatic approach. Drawing from a three-year study of SIBs, and informed by Science and Technology Studies (STS)-inspired work on valuation and the social life of methods, the article explores RCTs as both a valuation technology central to SIB design and the object of a micropolitics of valuation which has impeded market growth. It is the relationship between, and the politics of, evaluation and valuation that is a key lesson of the SIB experiment and an important insight for future research on “social investment” and other settings where methods are constitutive of financial value.

Regime of Fiscal Incorporation (RIF): A Tool That Gives Competitiveness to Start-Ups in Mexico

2018 ◽  
Vol 9 (12) ◽  
pp. 1042-1046
Author(s):  
Tadeo Armando Barrón López ◽  
Keyword(s):  
Latin America ◽  
Income Tax ◽  
Appropriate Use ◽  
Old Regime ◽  
Advantages And Disadvantages ◽  
Start Ups

The following text will show the different tax forms for a newly created company to become competitive, analyze the subsidies they have in a federal tax (Income Tax), compare the tax incorporation regime (RIF) with The old regime of small taxpayers (REPECO), analyzes the advantages and disadvantages of the appropriate use of RIF for start-ups, and finally, the tax incorporation regime is compared with similar ones in Latin America, reflecting on tax contributions Which each government has to raise so that its governments are efficient and effective within a country.

Payment by Results and Social Impact Bonds

2018 ◽  
Author(s):  
KEVIN ALBERTSON ◽  
CHRIS FOX ◽  
CHRIS O’LEARY ◽  
GARY PAINTER ◽  
KIMBERLY BAILEY ◽  
...  
Keyword(s):  
Social Impact ◽  
Social Impact Bonds
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