We are working in Argentina, Mexico, Chile and Brazil to develop a range of impact bonds that address youth unemployment, low educational attainment, lack of female empowerment and poor outcomes for disadvantaged children. In parallel, we are supporting these countries as they develop a vibrant public-private ecosystem focussed on outcomes for the most vulnerable populations.
We are working with the Inter-American Development Bank, under its SIB Facility announced in March 2014, to explore and support the development of Social Impact Bonds in Latin America. The country focus is Chile, Argentina, Mexico and Brazil. We are looking at the potential for SIBs to tackle issues in areas such as health, education, inequality and criminal justice, as well helping build capacity among local intermediaries, government, foundations, investors and delivery partners to develop and execute Social Impact Bond transactions.
Over the last 3 decades, and in parallel with fast economic growth, many Latin American countries have taken huge strides towards greater social protection. With many of the coverage targets achieved, attention has now turned towards the quality of the services provided, as well as towards those segments of the population who have been left behind. The potential of adaptive and results-focused instruments like Social Impact Bonds to improve outcomes for the most disadvantaged is phenomenal.
The Latin American region has large pools of talent and resources which can be boosted and re-oriented to work for those who have not benefited yet from the growth in wellbeing in these countries. Our work in this geography focuses on identifying this local talent and building coalitions of committed partners whose capacity and expertise we can help develop, so that they may continue the work in the future.