Confirmation of an initial 7.5% return for Australia’s first SIB is marvellous news for the product world wide and a ringing endorsement of the New South Wales government’s foresight.
Australia’s First Social Benefit Bond Delivers For Investors & Families
Andrew Constance – NSW
NSW Treasurer Andrew Constance and Minister for Family and Community Services Gabrielle Upton have today announced Australia’s first Social Benefit Bond has delivered a 7.5% return to investors in its first year, while improving supports for parents of children in or at risk of entering out-of-home care.
The NSW Government signed a contract with UnitingCare Burnside last year for a $7 million Social Benefit Bond trial – a bold new approach to providing long-term social and economic benefits for NSW.
The Social Benefit Bond Funded UnitingCare Burnside’s New Parent and Infant Network (Newpin), which aims to restore children to their families from out-of-home care and to prevent at-risk children from entering care by creating safe family environments.