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Social Impact Bond and Why invest?
Why should you know about Social Impact Bond?
Financing social policies and essential social services are always important. It ensures that whatever benefits that every citizen must enjoy are available to the fullest and that everyone will have access and are entitled to it. It also ensures that no one is left behind, and whoever may be lagging will be accorded help and given what is due to them.
But financing them is a tricky and contentious issue worldwide. There is a considerable debate about who must fund or finance the essential social services. Should the government do everything in its power to uplift everyone in society? Or should the private sector shoulder most of the burden? There is even debate whether the government should be involved in it.
Whatever the case may be, both the government and the private sector, at various times, have partnered and teamed up for social amelioration projects. One of the ways they have worked together to improve society is through social impact bonds. But what are social impact bonds?