UK adds another quango to the SIB mix….
UK – LGA Chosen To Help Social Impact Bond Development
The Local Government Association has been selected as one of two organisations to work with those developing Social Impact Bonds and similar payment-by-results schemes, the Big Lottery Fund has announced.
Social Finance – a body that assists social enterprises – has also been chosen. It describes itself as a body that helps to devise the financial structures and raise the capital to provide sustainable revenues and investment to charities and social enterprises.
Successful bond schemes could benefit from the £40m Commissioning Better Outcomes Fund or the Cabinet Office’s £20m Social Outcomes Fund.
The LGA and Social Finance will provide support, including technical guides, online tools, workshops, and diagnosis of further development needs.