Project
| ID | INDIGO-POJ-0076 |
|---|---|
| Impact Bond Name - (Value) | Seoul Welfare Facilities Children Education SIB |
| Stage of Development - (Value) | Complete |
| Stage of Development - (Source ID's) | source5,source6 |
| Dates - Anticipated completion date - (Value) | 2016-08 |
| Dates - Actual completion date - (Value) | 2016-08 |
| Dates - Actual end date of service provision - (Value) | 2019-08 |
| Dates - Anticipated duration of service provision - (Value) | 36 |
| Dates - Actual duration of service provision - (Value) | 36 |
| Dates - (Source ID's) | source5 |
| Overall project finance - Total investment commitment - Currency - (Value) | South Korean Won |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 1110000000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 956539.14 |
| Overall project finance - Investor repayment - (Value) | The SIB paid paid the principal + 25% interest to the investors |
| Overall project finance - (Source ID's) | source5,source6 |
| Purpose and classifications - Intervention - (Value) | Children in Seoul city group homes identified as potential beneficiaries of extra educational support will be administered with an initial Korean Wechsler scale of intelligence test to determine programme eligibility (i.e. IQ between 71 and 84). Eligible children then receive extra-curricular academic and social skills support from service providers over three school years. There are two success measures, increase in IQ test score and improvement in social skills and behaviour. Wechsler test scores will be determined at the beginning and end of the programme. Improvements in IQ to above 84 will be considered successful or, for those children with a mild learning disability, improvement to above 70. The second social skills and behaviour measure is evaluated by school teachers in reports twice a year (six times in total) with the target for success being the average score over the final four reports showing improvement relative to the average score of the first two reports. |
| Purpose and classifications - Policy sector - (Value) | Education |
| Purpose and classifications - (Source ID's) | source2,source1 |
| Service and beneficiaries - Target population - (Value) | Up to 100 children living in group care homes in Seoul classed as Borderline Intellectual Functioning (BIF) i.e. an IQ between 71 and 84. A small number of children with an IQ of below 70 (classified as having a mild learning disability). |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 100 |
| 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) | 100 |
| Service and beneficiaries - Unit type of actual service users or beneficiaries engaged - (Value) | Individual |
| Service and beneficiaries - (Source ID's) | source2,source5 |
| Notes - (Value) | * BIF (Borderline Intellectual Functioning) children are those with Intellectual Quotient(IQ) level between 71~84, often recited as ‘slow learners’. Children with Mild Intellectual Disabilities(IQ level between 64~70) possibly included in part should number of BIF children from welfare facilities found to be significantly small. * Maximum Rewards Condition 42% of target population meets both predefined targets * Principal Repayment Condition 33% of target population meets both predefined targets |
| Delivery Locations 1: Location - Name - (Value) | Seoul, South Korea |
| Delivery Locations 1: Location - Country - (Value) | KR |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 37.640515 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 126.956112 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Seoul SIB Fact Sheet (accessed: 26.07.2019) http://panimpact.kr/seoul-sib-fact-sheet/ |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Social Finance website (accessed: 26.07.2019) https://sibdatabase.socialfinance.org.uk |
| Sources 3: Id | sourcehackandlearn2021 |
| Sources 3: Name - (Value) | Hack and Learn - March 2021 |
| Sources 4: Id | source5 |
| Sources 4: Name - (Value) | PanImpact Korea website |
| Sources 4: Type - (Value) | Website |
| Sources 4: URL - (Value) | https://panimpact.kr/children-education-sib/ |
| Sources 5: Id | source6 |
| Sources 5: Name - (Value) | PanImpact Korea website - Factsheet on the Children’s Education SIB (1st SIB in Korea) |
| Sources 5: Type - (Value) | Website |
| Sources 5: URL - (Value) | https://panimpact.kr/seoul-sib-fact-sheet/ |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-0400 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-0404 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 1391000000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0405 |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-0406 |
| Investments 3: Id | investment3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-0407 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0403 |
| Intermediary services 1: Organisation Role Category - (Value) | Performance management |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Improvement in Cognitive Ability. Weschler scale of intelligence test will be executed at the beginning and then again at the end of the program. IQ level improvements to the normal range (above 84) will be considered successful. Children with mild intellectual disability will be considered successful should IQ level reaches the range of BIF (above 70). |
| Outcome Metrics 1: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 1: Secondary SDG goals - (Value) | 4 |
| Outcome Metrics 1: Primary SDG target - (Value) | 4.5 |
| Outcome Metrics 1: Secondary SDG targets - (Value) | 4.1 |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | Improvement in sociability. Teachers in charge at schools evaluate and report children’s behavior twice a year. Results are released in numbers. The improvements on the scores would be counted as successful. |
| Outcome Metrics 2: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 2: Secondary SDG goals - (Value) | 4 |
| Outcome Metrics 2: Primary SDG target - (Value) | 4.4 |
| Results 1: Result level - (Value) | Project level |
| Results 1: Result type - (Value) | Final |
| Results 1: Period - Start - (Value) | 2016-08 |
| Results 1: Period - End - (Value) | 2019-08 |
| Results 1: Outcomes achieved - (Value) | Maximum performance goal achieved: 52.7% of participants showed improvements in both cognitive abilities and social skills. 36% of participants showed partial improvements, meaning that they improved cognitive or social skills (not both). |