Project
| ID | INDIGO-POJ-0073 |
|---|---|
| Impact Bond Name - (Value) | Early Childhood Development (ECD) Impact Bond Innovation Fund |
| Alternative Names - (Value) | The Impact Bond Innovation Fund |
| Stage of Development - (Value) | Complete |
| Stage of Development - (Source ID's) | source10 |
| Dates - Date outcomes contract signed - (Value) | 2018-06 |
| Dates - Start date of service provision - (Value) | 2018-01 |
| Dates - Anticipated end date of service provision - (Value) | 2020-12 |
| Dates - (Source ID's) | source2 |
| Overall project finance - Total investment commitment - Currency - (Value) | South African Rand |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 9034100 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 1039296.054 |
| Purpose and classifications - Intervention - (Value) | The Western Cape Foundation for Community Work (FCW) is a development and resource ECD organization that promotes the holistic development of children within the context of their families and communities, through innovative, integrated, and sustainable interventions and programmes. FCW is delivering its Family in Focus Programme in a home visitation programme where community caregivers work with parents or caregivers and children in the home to deliver ECD programming focusing on the needs of pre-school aged children. Over a three year period, the IBIF, through FCW, will seek to improve the cognitive and socio-emotional development outcomes of more than 2,000 children in the low-income communities of Atlantis and Delft, in the Western Cape province of South Africa. |
| Purpose and classifications - Policy sector - (Value) | Child and family welfare |
| Purpose and classifications - (Source ID's) | source1 |
| Service and beneficiaries - Target population - (Value) | Children aged 3 to 5 drawn from the low-income communities of Atlantis and Delft in South Africa’s Western Cape Province. |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 2000 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Service and beneficiaries - Actual number of unique service users or beneficiaries engaged (total) - (Value) | 4000 |
| Service and beneficiaries - Unit type of actual service users or beneficiaries engaged - (Value) | Individual |
| Service and beneficiaries - (Source ID's) | source1,source10,source11 |
| Notes - (Value) | Impact Bond Innovation Fund PLC is a special purpose vehicle representing consortium comprising Volta Capital (Financial Intermediary), mothers2mothers (Technical intermediary with ECD sector expertise) and the Western Cape Foundation for Community Work (ECD service provider that delivers services on the ground) |
| Delivery Locations 1: Location - Name - (Value) | Atlantis and Delft, Western Cape, South Africa |
| Delivery Locations 1: Location - Country - (Value) | ZA |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | -33.956849 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 18.45388 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Bertha Centre. Case Study. Accessed 24/07/2019 https://www.gsb.uct.ac.za/PO-BC-early-childhood-dev-social-impact-bond |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Transfer Payment Agreement Page 3 |
| Sources 3: Id | source3 |
| Sources 3: Name - (Value) | Addendum to Transfer Payment Agreement between the Western Cape Government and Impact Bond Innovation. 29/04/2019. P.5. |
| Sources 4: Id | source4 |
| Sources 4: Name - (Value) | Bertha Centre. Case Study. Accessed 24/07/2019 https://www.gsb.uct.ac.za/PO-BC-early-childhood-dev-social-impact-bond. Currency converted from USD to ZAR at the exchange rate 13.8986 |
| Sources 5: Id | source6 |
| Sources 5: Name - (Value) | Addendum to Transfer Payment Agreement between the Western Cape Government and Impact Bond Innovation. 29/04/2019. Pp.5-6. |
| Sources 6: Id | sourcehackandlearn2021-08 |
| Sources 6: Name - (Value) | Hack and Learn - August 2021 |
| Sources 7: Id | source10 |
| Sources 7: Name - (Value) | Intellidex report: The Impact Bond Innovation Fund - The risks and returns of innovative finance for social change. A part of the Intellidex SIBs research series. April, 2021. |
| Sources 7: Type - (Value) | Report |
| Sources 7: URL - (Value) | https://tutuwafoundation.org/standimg/StandardBankGroup/tutuwa/images/Intellidex-the-IBIF-SIB-report.pdf |
| Sources 8: Id | source11 |
| Sources 8: Name - (Value) | GO Lab case study: South Africa Impact Bond Innovation Fund |
| Sources 8: Type - (Value) | Website |
| Sources 8: URL - (Value) | https://golab.bsg.ox.ac.uk/knowledge-bank/case-studies/south-africa-impact-bond-innovation-fund/ |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0060 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0064 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 10200000 |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-0065 |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Amount - (Value) | 10200000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0066 |
| Investments 1: Investment Type - (Value) | Debt |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-0067 |
| Investments 2: Investment Type - (Value) | Debt |
| Investments 3: Id | investment3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-0068 |
| Investments 3: Investment Type - (Value) | Debt |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0061 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0435 |
| Intermediary services 2: Organisation Role Category - (Value) | Performance management |
| Intermediary services 3: Organisation ID - (Value) | INDIGO-ORG-0062 |
| Intermediary services 4: Organisation ID - (Value) | INDIGO-ORG-0063 |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Recruitment and Retention. Successful recruitment and retention (until programme mid-year) of beneficiaries on the programme. Paid per qualifying beneficiary. |
| Outcome Metrics 1: Targeted number of service users Or beneficiaries (total) - (Value) | 2000 |
| Outcome Metrics 1: Primary SDG goal - (Value) | 8 |
| Outcome Metrics 1: Primary SDG target - (Value) | 8.5 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | Attendance. Beneficiaries attending at least 50% of the programme over the course of the year. Paid per qualifying beneficiary. |
| Outcome Metrics 2: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 2: Primary SDG target - (Value) | 4.4 |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | Development Assessment. Average Early Learning Outcome Measure (ELOM) score for the entire cohort that is 0.2. standard deviations of the mean higher than what is normal for South African children in the same age and quintile. The ELOM is a child development assessment normed on local child populations.Average scores will be calculated and payment made on an annual cohort basis by drawing a statistically significant sample (approximately 250 children) that adequately reflects the performance of the group. |
| Outcome Metrics 3: Primary SDG goal - (Value) | 3 |
| Results 1: Outcome Metric Id - (Value) | outcomemetric1 |
| Results 1: Result level - (Value) | Outcome level |
| Results 1: Result type - (Value) | Final |
| Results 1: Outcomes achieved - (Value) | In year one (2018), FCW fell slightly short of the attendance target in the pre pre-grade R group. Ninety percent of children and their caregivers completed at least 50% of planned sessions with the home visitors. Subsequent recruitment and retention and attendance targets were exceeded. FCW exceeded the targets in 2019 for pre pre-grade R, and in 2018 and 2019 for the pre-grade R cohort |
| Results 1: Number engaged In impact bond - (Value) | 4000 |
| Results 2: Outcome Metric Id - (Value) | outcomemetric2 |
| Results 2: Result level - (Value) | Outcome level |
| Results 2: Result type - (Value) | Final |
| Results 2: Outcomes achieved - (Value) | In year one (2018), FCW fell slightly short of the attendance target in the pre pre-grade R group. Ninety percent of children and their caregivers completed at least 50% of planned sessions with the home visitors. Subsequent recruitment and retention and attendance targets were exceeded. FCW exceeded the targets in 2019 for pre pre-grade R, and in 2018 and 2019 for the pre-grade R cohort |
| Results 2: Number engaged In impact bond - (Value) | 4000 |
| Results 3: Outcome Metric Id - (Value) | outcomemetric3 |
| Results 3: Result level - (Value) | Outcome level |
| Results 3: Result type - (Value) | Final |
| Results 3: Outcomes achieved - (Value) | FCW missed the ELOM targets at both assessment points in 2018 and 2019. Several reasons were proffered for missing the target on the first ELOM assessment. One set of reasons relates to the poverty that the beneficiaries live in. At the first ELOM assessment, some children needed to be excluded due to malnourishment and hunger. A second set of reasons derives from the nature of the ELOM assessment. It required that the children interact, on a one-on-one basis (without their caregivers), with a stranger (the trained assessor), in a strange environment (the testing location) for 45 minutes. For children not in a centre-based early learning environment and therefore not accustomed to this kind of interaction, this proved to be challenging. |
| Results 3: Number engaged In impact bond - (Value) | 4000 |
| Documents 1: Title - (Value) | Case Study - South Africa Impact Bond Innovation Fund |
| Documents 1: URL - (Value) | https://golab.bsg.ox.ac.uk/knowledge-bank/case-studies/south-africa-impact-bond-innovation-fund/ |
| Documents 2: Title - (Value) | Report - The Impact Bond Innovation Fund |
| Documents 2: URL - (Value) | https://tutuwafoundation.org/standimg/StandardBankGroup/tutuwa/images/Intellidex-the-IBIF-SIB-report.pdf |