Some more discussion on the first Australian bond and it’s success. Welcome to another week of SIB News…
NSW Social Impact Bond Returns 7.5%
Sydney Morning Herald
Australia’s first social impact bond has made its maiden return to investors with a yield of 7.5% as more governments look to capital markets to take the pressures off their strained budgets.
The $7 million bond – which promises investors a return if the number of children in foster care is reduced – launched a year ago with the backing of the NSW government. The capital is funding UnitingCare Burnside’s New Parent and Infant Network (Newpin) program, which is working to restore children in foster care with their families and preventing at-risk children from entering care by educating parents about family environments.