Pipeline
| ID | INDIGO-PL-0048 |
|---|---|
| Project Name - (Value) | UNHCR’s Poverty Graduation Impact Bond in Colombia |
| Contact - Name - (Value) | Avnish Gungadurdoss, Douglas Emeott |
| Contact - Email - (Value) | avnish.gungadurdoss@instiglio.org, douglas.emeott@instiglio.org |
| State of Development - (Value) | Current |
| State of Development - (Source ID's) | source1 |
| Stage of Development - (Value) | Late stage |
| Stage of Development - (Source ID's) | source1 |
| Type of instrument and project - Impact Bond - (Value) | Yes |
| Type of instrument and project - Outcomes Fund - (Value) | No |
| Type of instrument and project - Social Impact Incentives (SIINC) - (Value) | No |
| Type of instrument and project - Social Impact Guarantee - (Value) | No |
| Type of instrument and project - Payment-by-results (no pre-financing) - (Value) | No |
| Type of instrument and project - Technical Assistance and Market-building program (Must involve dedicated grant resources) - (Value) | No |
| (Source ID's) | source1 |
| Part of a larger outcomes-based financing program? - Part of a larger outcomes-based financing program? - (Value) | No |
| Part of a larger outcomes-based financing program? - (Source ID's) | source1 |
| Dates - Expected Launch Date - (Value) | Q2 - 2023 |
| Dates - Total expected project development time - (Value) | 6-12 months |
| Dates - Expected length of project (years) - (Value) | 6.5 |
| Dates - Project design process began - (Value) | Q4-2021 |
| Dates - (Source ID's) | source1 |
| Rationale for using outcome based finance - (Value) | • A need to leverage an evidence-based approach that is focused on outcomes delivered • An opportunity to leverage UNHCR Graduation Model experience • An opportunity for innovations to tailor the effectiveness of the delivery of the Graduation Approach to the needs of displaced populations • An opportunity to leverage a developed country ecosystem with development stakeholders and private sector who are willing to share risks • An opportunity to leverage country leadership and experience with impact bonds, including previous successful impact bond issuances and desire to issue more, as well as progressive government policies, such as Temporary Protection Status that creates opportunities for inclusion. |
| (Source ID's) | source1 |
| Key challenges to launch - (Value) | Instrument design is currently ongoing during national elections and change of government (first round voting May 29, 022). This may delay / affect commitments. |
| (Source ID's) | source1 |
| Role of the domestic government - Outcomes funder - (Value) | Yes |
| Role of the domestic government - Service provider - (Value) | No |
| Role of the domestic government - Member of project committee - (Value) | Yes |
| Role of the domestic government - No formal role - (Value) | No |
| (Source ID's) | source1 |
| (Notes) | The GoC could potentially be an outcome payer. If this Impact Bond is contracted to the Colombian Outcomes Fund, DPS could also be a technical Project Manager with UNHCR. |
| Service providers identified and selected - Request-for-proposals - (Value) | Yes |
| Service providers identified and selected - Direct contracting by outcome funder/investor/intermediary - (Value) | No |
| Service providers identified and selected - Provider-led deal development - (Value) | No |
| Service providers identified and selected - Other - (Value) | TBD through request for proposals |
| (Source ID's) | source1 |
| Feasibility study - (Value) | No |
| (Source ID's) | source1 |
| Proposed financing instruments - Debt - (Value) | No |
| Proposed financing instruments - Equity - (Value) | No |
| Proposed financing instruments - Guarantee - (Value) | No |
| Proposed financing instruments - Grant - (Value) | No |
| (Source ID's) | source1 |
| Technical assistance grant - Technical assistance grant - (Value) | Yes |
| Technical assistance grant - (Source ID's) | source1 |
| Overall project finance - Estimated Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Estimated Maximum potential outcome payment - Amount - (Value) | 40000000 |
| Overall project finance - (Source ID's) | source1 |
| Overall project finance - (Notes) | TBD: perhaps between USD 10-40 million |
| Purpose and classifications - Social/Developmental challenge - (Value) | To deploy the first large-scale Graduation Approach program focused on refugees which aims for the highest graduation rate achieved so far for this population. |
| Purpose and classifications - Expected intervention model - (Value) | Led by UNHCR, service providers will implement a Graduation Approach program that includes as minimum components: basic needs assistance, income generation for self-employment and job employment tracks, financial support and savings, and integration/psychosocial support/social empowerment. |
| Purpose and classifications - Policy sector - Employment and private sector development - (Value) | No |
| Purpose and classifications - Policy sector - Education - (Value) | No |
| Purpose and classifications - Policy sector - Social protection - (Value) | Yes |
| Purpose and classifications - Policy sector - Criminal justice - (Value) | No |
| Purpose and classifications - Policy sector - Health - (Value) | No |
| Purpose and classifications - Policy sector - Agriculture - (Value) | No |
| Purpose and classifications - Policy sector - Environment and climate change - (Value) | No |
| Purpose and classifications - Policy sector - Water, Sanitation and Hygiene - (Value) | No |
| Purpose and classifications - Policy sector - Energy - (Value) | No |
| Purpose and classifications - Policy sector - Humanitarian - (Value) | No |
| Purpose and classifications - Policy sector - Other - (Value) | Poverty alleviation |
| Purpose and classifications - Secondary SDG goals - (Value) | 1 |
| Purpose and classifications - (Source ID's) | source1 |
| Service users and beneficiaries - Target population - (Value) | Venezuelan migrants/refugees, internally displaced Colombian, and host community living in extreme poverty |
| Service users and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 10,000 - 15,000 |
| Service users and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Low-income - (Value) | No |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Lower-middle-income - (Value) | No |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - Upper-middle-income - (Value) | Yes |
| Service users and beneficiaries - Country Classification of Service and beneficiaries - High-income - (Value) | No |
| Service users and beneficiaries - (Source ID's) | source1 |
| Service users and beneficiaries - (Notes) | TBD: approx. 10,000 households (50% Venezuelans and 50% Colombians) |
| Notes - (Value) | Data for this pipeline project was last updated in April 2022. |
| Delivery Locations 1: Location - Name - (Value) | Colombia |
| Delivery Locations 1: Location - Country - (Value) | CO |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 4.5709 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 74.2973 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Data shared by key stakeholders of the project through March 2022 Levoca questionnaire |
| Service Provisions 1: Notes | [Confidential] |
| Outcome Payment Commitments 1: Notes | TBD (ideally the Government of Colombia (DPS) and donors (e.g., European Union, Word Bank, and/or the U.S State Department Bureau of Population, Refugees, and Migration (PRM)) |
| Investments 1: Notes | TBD (potentially UBS Optimus Foundation, other Swiss banks, and/or national foundations) |
| Intermediary services 1: Organisation Role Category - (Value) | Other |
| Intermediary services 1: Notes | Evaluator - TBD |
| Intermediary services 2: Organisation Role Category - (Value) | Other |
| Intermediary services 2: Notes | Advisor - Instiglio (perhaps UNHCR to include the Poverty Alleviation Coalition) |
| Outcome Metrics 1: Outcome Definition - (Value) | TBD (potentially increases in income/consumption, increase in savings and access to state social services) |
| Outcome Metrics 1: Outcome validation Method - (Value) | TBD |