Project
| ID | INDIGO-POJ-0205 |
|---|---|
| Impact Bond Name - (Value) | Finland Children's Welfare SIB II |
| Alternative Names - (Value) | Lapset SIB II |
| Stage of Development - (Value) | Implementation |
| Stage of Development - (Source ID's) | source1 |
| Social Investment Prototype - (Value) | NO |
| Dates - Date outcomes contract signed - (Value) | 2020-12 |
| Dates - Anticipated completion date - (Value) | 2031-01 |
| Dates - Start date of service provision - (Value) | 2021-05 |
| Dates - Anticipated end date of service provision - (Value) | 2030-12 |
| Dates - (Source ID's) | source1 |
| Overall project finance - Total investment commitment - Currency - (Value) | EUR |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 5100000 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | EUR |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 15900000 |
| Overall project finance - (Source ID's) | source1 |
| Overall project finance - (Notes) | The amount of investment corresponds to both Children's Welfare SIB I and Children's Welfare SIB II. Maximum Potential Outcome Payment only corresponds to Children's Welfare SIB II. |
| Investment Details - Internal Rate of Return - Target - (Value) | 0.05 |
| Investment Details - (Source ID's) | source1 |
| Purpose and classifications - Social challenge - (Value) | Youth exclusion and problems in families with small children. The aim is to boost wellbeing and to reduce the costs of corrective services and the need for unemployment benefits. Municipalities need new financing and operating approaches helping them to tackle problems and the purpose of the Lapset SIB II project is to address problems in a proactive manner and at the right time. Successful completion of upper secondary education and finding employment are key to social integration. However, about 15% of all young people finish school without a post-basic education qualification. For young people in substitute care, the figure is as much as 50%. A young person outside education and working life costs society about EUR 18,000/year. |
| Purpose and classifications - Intervention - (Value) | Early stage support for families with children who are in danger of youth exclusion. Main intervention providers include SOS Children's Villages, Helsinki Deaconess Foundation and Nuorten Ystävät. |
| Purpose and classifications - Policy sector - (Value) | Child and family welfare |
| Purpose and classifications - (Source ID's) | source1 |
| Service and beneficiaries - (Source ID's) | source1 |
| Service and beneficiaries - (Notes) | Target cohorts vary by Municipality. |
| Delivery Locations 1: Service Provision ID - (Value) | serviceprovision1 |
| Delivery Locations 1: Location - Name - (Value) | City of Jyväskylä |
| Delivery Locations 1: Location - Postcode - (Value) | FI-40100 |
| Delivery Locations 1: Location - Country - (Value) | FI |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 62.24147 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 25.72088 |
| Delivery Locations 2: Service Provision ID - (Value) | serviceprovision2 |
| Delivery Locations 2: Location - Name - (Value) | City of Karkkila |
| Delivery Locations 2: Location - Postcode - (Value) | FI-03600 |
| Delivery Locations 2: Location - Country - (Value) | FI |
| Delivery Locations 2: Lat/Lng - Lat - (Value) | 60.53418 |
| Delivery Locations 2: Lat/Lng - Lng - (Value) | 24.20977 |
| Delivery Locations 3: Service Provision ID - (Value) | serviceprovision3 |
| Delivery Locations 3: Location - Name - (Value) | City of Tampere |
| Delivery Locations 3: Location - Postcode - (Value) | FI-33100 |
| Delivery Locations 3: Location - Country - (Value) | FI |
| Delivery Locations 3: Lat/Lng - Lat - (Value) | 61.49911 |
| Delivery Locations 3: Lat/Lng - Lng - (Value) | 23.78712 |
| Delivery Locations 4: Service Provision ID - (Value) | serviceprovision4 |
| Delivery Locations 4: Location - Name - (Value) | City of Vihti |
| Delivery Locations 4: Location - Postcode - (Value) | FI-03400 |
| Delivery Locations 4: Location - Country - (Value) | FI |
| Delivery Locations 4: Lat/Lng - Lat - (Value) | 60.41699 |
| Delivery Locations 4: Lat/Lng - Lng - (Value) | 24.31965 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | Email correspondence with Mika Pyykkö and Jani Kempas, Centre of Expertise on Impact Investing (Ministry of Economic Affairs and Employment of Finland) on 09/12/2020. |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1189 |
| Service Provisions 1: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Service Provisions 1: Planned Service - Start - (Value) | 2021-05 |
| Service Provisions 2: Organisation ID - (Value) | INDIGO-ORG-1161 |
| Service Provisions 2: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Service Provisions 2: Planned Service - Start - (Value) | 2021-05 |
| Service Provisions 3: Organisation ID - (Value) | INDIGO-ORG-1190 |
| Service Provisions 3: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Service Provisions 3: Planned Service - Start - (Value) | 2021-05 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1191 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | EUR |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 10000000 |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-1192 |
| Outcome Payment Commitments 2: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Currency - (Value) | EUR |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Amount - (Value) | 4300000 |
| Outcome Payment Commitments 3: Organisation ID - (Value) | INDIGO-ORG-1193 |
| Outcome Payment Commitments 3: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 3: Maximum potential Outcome payment - Currency - (Value) | EUR |
| Outcome Payment Commitments 3: Maximum potential Outcome payment - Amount - (Value) | 1600000 |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-0387 |
| Investments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Investments 1: Investment Commitment - Currency - (Value) | EUR |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 1000000 |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-1172 |
| Investments 2: Organisation Role Category - (Value) | Commercia |
| Investments 2: Investment Commitment - Currency - (Value) | EUR |
| Investments 2: Investment Commitment - Amount - Exact - (Value) | 500000 |
| Investments 3: Id | investment3 |
| Investments 3: Organisation ID - (Value) | INDIGO-ORG-1169 |
| Investments 3: Organisation Role Category - (Value) | Commercia |
| Investments 3: Investment Commitment - Currency - (Value) | EUR |
| Investments 3: Investment Commitment - Amount - Exact - (Value) | 500000 |
| Investments 3: Notes | Lahi Tapiola Life Insurance |
| Investments 4: Id | investment4 |
| Investments 4: Organisation ID - (Value) | INDIGO-ORG-1169 |
| Investments 4: Organisation Role Category - (Value) | Commercia |
| Investments 4: Investment Commitment - Currency - (Value) | EUR |
| Investments 4: Investment Commitment - Amount - Exact - (Value) | 500000 |
| Investments 4: Notes | Lahi Tapiola Insurance |
| Investments 5: Id | investment5 |
| Investments 5: Organisation ID - (Value) | INDIGO-ORG-1194 |
| Investments 5: Organisation Role Category - (Value) | Commercia |
| Investments 5: Investment Commitment - Currency - (Value) | EUR |
| Investments 5: Investment Commitment - Amount - Exact - (Value) | 250000 |
| Investments 6: Id | investment6 |
| Investments 6: Organisation ID - (Value) | INDIGO-ORG-1195 |
| Investments 6: Organisation Role Category - (Value) | Commercia |
| Investments 6: Investment Commitment - Currency - (Value) | EUR |
| Investments 6: Investment Commitment - Amount - Exact - (Value) | 250000 |
| Investments 7: Id | investment7 |
| Investments 7: Organisation ID - (Value) | INDIGO-ORG-1173 |
| Investments 7: Organisation Role Category - (Value) | Investment Fund |
| Investments 7: Investment Commitment - Currency - (Value) | EUR |
| Investments 7: Investment Commitment - Amount - Exact - (Value) | 2100000 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0546 |
| Intermediary services 1: Organisation Role Category - (Value) | Impact bond design |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | The first aim is to ensure that 70% of young people facing dropout risk will successfully complete upper secondary education. The bonus will be paid for successful completion of upper secondary education, higher education studies and finding work (City of Jyväskylä). |
| Outcome Metrics 1: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 1: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 1: Primary SDG target - (Value) | 4.1 |
| Outcome Metrics 1: Notes | This outcome corresponds to the City of Jyväskylä. |
| Outcome Metrics 2: Id | outcomemetric2 |
| Outcome Metrics 2: Outcome Definition - (Value) | The second aim is that child welfare placements of sixth-graders with weak school performance and a risk of becoming child welfare clients will decrease by 50%. The bonus will be paid for avoiding child welfare placements, a reduction in unauthorised absences and improvement in school performance(City of Jyväskylä). |
| Outcome Metrics 2: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 2: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 2: Primary SDG target - (Value) | 4.5 |
| Outcome Metrics 2: Notes | This outcome corresponds to the City of Jyväskylä. |
| Outcome Metrics 3: Id | outcomemetric3 |
| Outcome Metrics 3: Outcome Definition - (Value) | The aim is that 80% of young people in substitute care will at least complete upper secondary education and 80% of them will study or be in gainful employment at the age of 25. The bonus will be paid for successful completion of upper secondary education and for finding work (City of Tampere). |
| Outcome Metrics 3: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 3: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 3: Primary SDG target - (Value) | 4.1 |
| Outcome Metrics 3: Notes | This outcome corresponds to the City of Tampere. |
| Outcome Metrics 4: Id | outcomemetric4 |
| Outcome Metrics 4: Outcome Definition - (Value) | The bonus will be paid for savings in child welfare costs, for a parent successfully completing upper secondary education and for a parent finding employment. The bonus model is based on a forecast of child welfare costs, and education and employment trends with current measures (City of Karkkila and the Municipality of Vihti). |
| Outcome Metrics 4: Data source for Outcome validation - (Value) | Existing administrative data |
| Outcome Metrics 4: Primary SDG goal - (Value) | 4 |
| Outcome Metrics 4: Secondary SDG goals - (Value) | 3 |
| Outcome Metrics 4: Primary SDG target - (Value) | 4.5 |
| Outcome Metrics 4: Notes | This outcome corresponds to the City of Karkkila and the Municipality of Vihti. |