Project
| ID | INDIGO-POJ-0023 |
|---|---|
| Impact Bond Name - (Value) | Colombia Workforce Development SIB: Empleando Futuro |
| Stage of Development - (Value) | Complete |
| Dates - Date outcomes contract signed - (Value) | 2017-03 |
| Dates - Anticipated completion date - (Value) | 2019-12 |
| Dates - Actual completion date - (Value) | 2019-12 |
| Dates - Start date of service provision - (Value) | 2017-05 |
| Dates - (Source ID's) | source5,source3,source13 |
| Overall project finance - Total investment commitment - Currency - (Value) | COP |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 960000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 325277.3648 |
| Purpose and classifications - Social challenge - (Value) | Unemployment |
| Purpose and classifications - Intervention - (Value) | In this SIB, the aim was to employ vulnerable individuals in formal jobs and support them in retaining those jobs (for at least three months). The SIB supported a range of employment measures, including skills training, psychosocial support, and intermediation services for job placement and retention, for 766 vulnerable individuals. The intermediation services included: Analysis of the context of the labour market, raising awareness of potential employers, managing strategic relations with potential employers for this population profile, the characterization and preparation of participants, and the accompaniment of companies and beneficiaries to identify opportunities to articulate the vacancies with candidates. Job placement and job retention for 3 months were the two core-metrics, each of which represent half of the base repayment amount. The IDB-MIF / SECO provided a bonus payment of 10 percent of the overall price of the two metrics for 6-month job retention. |
| Purpose and classifications - Policy sector - (Value) | Employment and training |
| Purpose and classifications - (Source ID's) | source11,source4 |
| Service and beneficiaries - Target population - (Value) | Individuals not formally employed at the start of the program, aged 18-40, and who had not participated in these two national employment programs: "Empleos para la Prosperidad" or "Mi Negocio". Participants also had to meet one of the following requirements: scored below 41.74 on the Beneficiary Selection System for Social Programs (SISBEN), were registered in Red Unidos, or were victims of displacement due to armed conflict. |
| Service and beneficiaries - Actual number of unique service users or beneficiaries engaged (total) - (Value) | 899 |
| Service and beneficiaries - (Source ID's) | source7 |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | Bogotá |
| Delivery Locations 1: Location - Country - (Value) | CO |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 4.585953 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | -74.095267 |
| Delivery Locations 2: Service Provision ID - (Value) | deliverylocation2 |
| Delivery Locations 2: Location - Name - (Value) | Cali |
| Delivery Locations 2: Location - Country - (Value) | CO |
| Delivery Locations 2: Lat/Lng - Lat - (Value) | 3.359889 |
| Delivery Locations 2: Lat/Lng - Lng - (Value) | -76.638565 |
| Delivery Locations 3: Service Provision ID - (Value) | deliverylocation3 |
| Delivery Locations 3: Location - Name - (Value) | Pereira |
| Delivery Locations 3: Location - Country - (Value) | CO |
| Delivery Locations 3: Lat/Lng - Lat - (Value) | 4.81429 |
| Delivery Locations 3: Lat/Lng - Lng - (Value) | -75.69464 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | GUSTAFSSON-WRIGHT, E. (2019b). “Impact Bonds and Outcome Funds for Development”. [PowerPoint presentation]. Available at: http://www.ib-wg.com/pdfs/Brookings.pdf (Accessed: 21 May 2019) |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Information shared through word document by María Alejandra Urrea, Manager of the Social Impact Bond Programme at the Corona Foundation Fundación Corona on the 12/06/19 |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | INSTIGLIO (2019). Employment Colombia. Instiglio, viewed 14 May 2019. Available at: https://www.instiglio.org/en/employment-colombia/ (Accessed: 14 May 2019) |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | GUSTAFSSON-WRIGHT, E. AND BOGGILD-JONES, I. (2017). “Colombia leads the developing world in signing the first social impact bond contracts”, Brookings, 31 March. Available at: https://www.brookings.edu/blog/education-plus-development/2017/03/31/colombia-leads-the-developing-world-in-signing-the-first-social-impact-bond-contracts/ (Accessed: 21 May 2019) |
| Sources 5: Id | source5 |
| Sources 5: Name - (Value) | Interview with Daniel Uribe, director at the Corona Foundation. Conducted on the 10/06/19 |
| Sources 6: Id | source6 |
| Sources 6: Name - (Value) | GUSTAFSSON-WRIGHT, E. (2019). “It takes more than 2 to tango: Impact bonds in Latin America and the Caribbean”, Brookings, 13 February. Available at: https://www.brookings.edu/blog/education-plus-development/2019/02/15/it-takes-more-than-2-to-tango-impact-bonds-in-latin-america-and-the-caribbean/ (Accessed: 21 May 2019) |
| Sources 7: Id | source7 |
| Sources 7: Name - (Value) | Fundación Corona, IDB Lab, and Corporación Inversor (email correspondence on 4 June 2020) |
| Sources 8: Id | source8 |
| Sources 8: Name - (Value) | GUSTAFSSON-WRIGHT, E. AND BOGGILD-JONES, I. (2017). “Colombia leads the developing world in signing the first social impact bond contracts”, Brookings, 31 March. Available at: https://www.brookings.edu/blog/education-plus-development/2017/03/31/colombia-leads-the-developing-world-in-signing-the-first-social-impact-bond-contracts/ (Accessed: 21 May 2019); GUSTAFSSON-WRIGHT, E. (2019). “It takes more than 2 to tango: Impact bonds in Latin America and the Caribbean”, Brookings, 13 February. Available at: https://www.brookings.edu/blog/education-plus-development/2019/02/15/it-takes-more-than-2-to-tango-impact-bonds-in-latin-america-and-the-caribbean/ (Accessed: 21 May 2019) |
| Sources 9: Id | source9 |
| Sources 9: Name - (Value) | GUSTAFSSON-WRIGHT, E. (2019). “It takes more than 2 to tango: Impact bonds in Latin America and the Caribbean”, Brookings, 13 February. Available at: https://www.brookings.edu/blog/education-plus-development/2019/02/15/it-takes-more-than-2-to-tango-impact-bonds-in-latin-america-and-the-caribbean/ (Accessed: 21 May 2019);Information confirmed through word document by María Alejandra Urrea, Manager of the Social Impact Bond Programme at the Corona Foundation Fundación Corona on the 12/06/19 |
| Sources 10: Id | source10 |
| Sources 10: Name - (Value) | GUSTAFSSON-WRIGHT, E. (2019). “It takes more than 2 to tango: Impact bonds in Latin America and the Caribbean”, Brookings, 13 February. Available at: https://www.brookings.edu/blog/education-plus-development/2019/02/15/it-takes-more-than-2-to-tango-impact-bonds-in-latin-america-and-the-caribbean/ (Accessed: 21 May 2019); Presentation shared by María Alejandra Urrea, Manager of the Social Impact Bond Programme at the Corona Foundation Fundación Corona on the 12/06/19 |
| Sources 11: Id | source11 |
| Sources 11: Name - (Value) | EMPLEANDO FUTURO, SIBS.CO. (2019) Empleando Futuro: Hallazgos del primer Bono de Impacto Social en Colombia [PowerPoint presentation]. Not publicly available. Presentation shared by María Alejandra Urrea, Manager of the Social Impact Bond Programme at the Corona Foundation/ Empleando Futuro, SIBs.CO on the 12/06/19 |
| Sources 12: Id | source12 |
| Sources 12: Name - (Value) | Own calculation, based on EMPLEANDO FUTURO, SIBS.CO. (2019) Empleando Futuro: Hallazgos del primer Bono de Impacto Social en Colombia [PowerPoint presentation]. Not publicly available. Presentation shared by María Alejandra Urrea, Manager of the Social Impact Bond Programme at the Corona Foundation/ Empleando Futuro, SIBs.CO on the 12/06/19 |
| Sources 13: Id | source13 |
| Sources 13: Name - (Value) | SIBs.co website: http://www.sibs.co/wp-content/uploads/2019/06/EMPLEANDO-FUTURO-RENDICIO%CC%81N-DE-CUENTAS.pdf |
| Sources 13: Type - (Value) | Website |
| Sources 13: URL - (Value) | http://www.sibs.co/wp-content/uploads/2019/06/EMPLEANDO-FUTURO-RENDICIO%CC%81N-DE-CUENTAS.pdf |
| Sources 14: Id | sourcehackandlearn2021-08 |
| Sources 14: Name - (Value) | Hack and Learn - August 2021 |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1043 |
| Service Provisions 2: Id | serviceprovision2 |
| Service Provisions 2: Organisation ID - (Value) | INDIGO-ORG-1044 |
| Service Provisions 3: Id | serviceprovision3 |
| Service Provisions 3: Organisation ID - (Value) | INDIGO-ORG-1045 |
| Service Provisions 4: Id | serviceprovision4 |
| Service Provisions 4: Organisation ID - (Value) | INDIGO-ORG-0276 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1052 |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-0510 |
| Outcome Payment Commitments 3: Organisation ID - (Value) | INDIGO-ORG-0282 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0284 |
| Investments 1: Investment Type - (Value) | Investment from endowment |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-0283 |
| Investments 2: Investment Type - (Value) | Investment from endowment |
| Investments 3: Id | investment3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-0285 |
| Investments 3: Investment Type - (Value) | Investment with debt characteristics |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0278 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0279 |
| Intermediary services 3: Organisation ID - (Value) | INDIGO-ORG-1048 |
| Intermediary services 4: Organisation ID - (Value) | INDIGO-ORG-1049 |
| Intermediary services 5: Organisation ID - (Value) | INDIGO-ORG-0280 |
| Intermediary services 6: Organisation ID - (Value) | INDIGO-ORG-1051 |
| Intermediary services 7: Organisation ID - (Value) | INDIGO-ORG-0283 |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Formal job placement (Phase A). Job placement of beneficiaries between March 2017 and July 2018. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 766 |
| Outcome Metrics 1: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 1: Primary SDG target - (Value) | 8.3 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | 3-month retention (Phase A). 3-month job retention for the beneficiaries between March 2017 and July 2018. |
| Outcome Metrics 2: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 2: Primary SDG target - (Value) | 8.3 |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | 6-month retention (Phase A). 6-month job retention for the beneficiaries between March 2017 and July 2018 (bonus payments from the IDB with SECO resources). |
| Outcome Metrics 3: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 3: Primary SDG target - (Value) | 8.3 |
| Outcome Metrics 4: Id | outcomemetric4 |
| Outcome Metrics 4: Outcome Definition - (Value) | Formal job placement (Phase B). Job placement of beneficiaries between July and December 2018. |
| Outcome Metrics 4: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 4: Primary SDG target - (Value) | 8.3 |
| Outcome Metrics 5: Id | outcomemetric5 |
| Outcome Metrics 5: Outcome Definition - (Value) | 3-month retention (Phase B). 3-month job retention for the beneficiaries between July and December 2018. |
| Outcome Metrics 5: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 5: Primary SDG target - (Value) | 8.3 |
| Outcome Metrics 6: Id | outcomemetric6 |
| Outcome Metrics 6: Outcome Definition - (Value) | 6-month retention (Phase B). 6-month job retention for the beneficiaries between July and December 2018 (bonus payments from IDB with SECO resources). |
| Outcome Metrics 6: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 6: Primary SDG target - (Value) | 8.3 |
| Results 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 1: Number engaged In impact bond - (Value) | 899 |
| Documents 1: Title - (Value) | Case Study - Colombia Workforce Development Social Impact Bond - Empleando Futuro |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/knowledge-bank/case-studies/colombia-workforce-sib/ |
| Documents 2: Title - (Value) | Case study - Evolution of the payment-by-results ecosystem in Colombia (in Spanish) |
| Documents 2: URL - (Value) | https://s3.eu-west-2.amazonaws.com/golab.prod/documents/Evolucion-del-ecosistema-de-pago-por-resultados-en-Colombia-Estudio-de-Caso.pdf |