Project
| ID | INDIGO-POJ-0223 |
|---|---|
| Impact Bond Name - (Value) | The Refugee Impact Bond |
| Stage of Development - (Value) | Implementation |
| Social Investment Prototype - (Value) | NO |
| Dates - Date outcomes contract signed - (Value) | 2021-09 |
| Dates - Date contracts between all parties signed - (Value) | 2021-10 |
| Dates - Anticipated completion date - (Value) | 2025-10 |
| Dates - Start date of service provision - (Value) | 2022-01 |
| Dates - Anticipated end date of service provision - (Value) | 2025-03 |
| Overall project finance - Total investment commitment - Currency - (Value) | USD |
| Overall project finance - Total investment commitment - Amount - Exact - (Value) | 9825000 |
| Overall project finance - Total investment commitment - Amount USD - Exact - (Value) | 9825000 |
| Overall project finance - Maximum potential outcome payment - Currency - (Value) | USD |
| Overall project finance - Maximum potential outcome payment - Amount - (Value) | 12000000 |
| Overall project finance - Maximum potential outcome payment - Amount USD - (Value) | 12000000 |
| Overall project finance - Maximum potential loss - (Value) | 0.2 |
| Overall project finance - Maximum potential return type - (Value) | ARR |
| Overall project finance - Maximum potential return - (Value) | 0.051 |
| Purpose and classifications - Social challenge - (Value) | The Syrian conflict has displaced more than 11 million people. 6 million refugees have settled in five neighbouring countries, including Lebanon and Jordan. 85% of Syrian refugees across the region live in urban areas and 6 in 10 refugees live in extreme poverty. Women and young people are the most vulnerable. This first-of-its-kind "Refugee Impact Bond" aims to significantly contribute to closing the funding gap and addressing the need for more inclusive and sustainable approaches to the economic empowerment of refugees through (i) the funding of a programme that focuses on durable results ; addresses the specific needs of vulnerable women and youth ; Includes host communities; (ii) A financing mechanism – the DIB – that empowers the delivery partner with multi-year funding and the flexibility to adapt programming with a sole focus on outcomes (rather than activities); (iii)The generation of independently verified and robust evidence and the sharing of the learnings. |
| Purpose and classifications - Intervention - (Value) | The Refugee Impact Bond funds the Near East Foundation UK to deliver a vocational, entrepreneurship, and resilience-building programme for refugees and vulnerable members of their host communities in Jordan. |
| Purpose and classifications - Policy sector - (Value) | Employment and training |
| Purpose and classifications - Primary SDG goal - (Value) | 1,5,8,10 |
| Service and beneficiaries - Target population - (Value) | Jordanians and refugees |
| Service and beneficiaries - Targeted number of unique service users or beneficiaries (total) - (Value) | 4380 |
| Service and beneficiaries - Unit type of targeted service users or beneficiaries - (Value) | Individual |
| Delivery Locations 1: Service Provision ID - (Value) | deliverylocation1 |
| Delivery Locations 1: Location - Name - (Value) | Jordan |
| Delivery Locations 1: Location - Country - (Value) | JO |
| Delivery Locations 1: Lat/Lng - Lat - (Value) | 31.963158 |
| Delivery Locations 1: Lat/Lng - Lng - (Value) | 35.930359 |
| Sources 1: Id | source1 |
| Sources 1: Name - (Value) | https://www.refugeeimpactbond.org/ |
| Sources 1: Type - (Value) | Website |
| Sources 2: Id | source2 |
| Sources 2: Name - (Value) | Email correspondence with KOIS on 4/11/2021. |
| Service Provisions 1: Id | serviceprovision1 |
| Service Provisions 1: Organisation ID - (Value) | INDIGO-ORG-1275 |
| Service Provisions 1: Organisation Role Category - (Value) | Nonprofit/NGO |
| Service Provisions 1: Intervention - (Value) | NEF works with local partners to deliver services through Siraj Centres located in impoverished communities with a high number of refugees. Siraj Centres are community hubs that offer livelihood services. In Siraj Centres, people can safely access business development training and essential resources to recover their income, improve their wellbeing, and contribute to their local economies. With doors open to the community, Siraj Centres foster inclusion, networking, and social cohesion |
| Service Provisions 1: Planned Service - Start - (Value) | 2021-10 |
| Service Provisions 1: Planned Service - End - (Value) | 2025-03 |
| Outcome Payment Commitments 1: Organisation ID - (Value) | INDIGO-ORG-1276 |
| Outcome Payment Commitments 1: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Currency - (Value) | USD |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount - (Value) | 6500000 |
| Outcome Payment Commitments 1: Maximum potential Outcome payment - Amount USD - (Value) | 6500000 |
| Outcome Payment Commitments 1: Result type - (Value) | Overall |
| Outcome Payment Commitments 1: Notes | The DIB’s Outcome Funders are IKEA Foundation and Novo Nordisk Foundation. They have committed to repay 52% of programme costs and to make outcome payments to NEF depending on the level of success of the DIB’s two payment metrics. They are also funding the DIB’s evaluation and stakeholder coordination costs. |
| Outcome Payment Commitments 2: Organisation ID - (Value) | INDIGO-ORG-1277 |
| Outcome Payment Commitments 2: Organisation Role Category - (Value) | Foundation/Philanthropist |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Currency - (Value) | DKK |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Amount - (Value) | 20000000 |
| Outcome Payment Commitments 2: Maximum potential Outcome payment - Amount USD - (Value) | 3200000 |
| Outcome Payment Commitments 2: Result type - (Value) | Overall |
| Outcome Payment Commitments 2: Notes | The DIB’s Outcome Funders are IKEA Foundation and Novo Nordisk Foundation. They have committed to repay 52% of programme costs and to make outcome payments to NEF depending on the level of success of the DIB’s two payment metrics. They are also funding the DIB’s evaluation and stakeholder coordination costs. |
| Outcome Payment Commitments 3: Organisation ID - (Value) | INDIGO-ORG-1278 |
| Outcome Payment Commitments 3: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Outcome Payment Commitments 3: Maximum potential Outcome payment - Currency - (Value) | NOK |
| Outcome Payment Commitments 3: Maximum potential Outcome payment - Amount - (Value) | 25000000 |
| Outcome Payment Commitments 3: Maximum potential Outcome payment - Amount USD - (Value) | 2800000 |
| Outcome Payment Commitments 3: Result type - (Value) | Overall |
| Outcome Payment Commitments 3: Notes | Thanks to its commitment to repay 28% of programme costs, Norad has limited investor downside risk to 20% and improved the project’s risk profile for the Outcome Funders. OF guarantor (payment not linked to any targets). |
| Investments 1: Id | investment1 |
| Investments 1: Organisation ID - (Value) | INDIGO-ORG-1279 |
| Investments 1: Organisation Role Category - (Value) | Government/Public Sector/Public Bank |
| Investments 1: Investment Commitment - Currency - (Value) | USD |
| Investments 1: Investment Commitment - Amount - Exact - (Value) | 7825000 |
| Investments 1: Investment Commitment - Amount USD - Exact - (Value) | 7825000 |
| Investments 2: Id | investment2 |
| Investments 2: Organisation ID - (Value) | INDIGO-ORG-1280 |
| Investments 2: Organisation Role Category - (Value) | High Net Worth Individual/Family Office/Private Bank |
| Investments 2: Investment Commitment - Currency - (Value) | USD |
| Investments 2: Investment Commitment - Amount - Exact - (Value) | 2000000 |
| Investments 2: Investment Commitment - Amount USD - Exact - (Value) | 2000000 |
| Intermediary services 1: Organisation ID - (Value) | INDIGO-ORG-0042 |
| Intermediary services 1: Organisation Role Category - (Value) | Impact bond design |
| Intermediary services 1: Other Role Description - (Value) | DIB coordinator |
| Intermediary services 1: Notes | Initiator of the refugees impact bond project. |
| Intermediary services 2: Organisation ID - (Value) | INDIGO-ORG-0598 |
| Intermediary services 2: Organisation Role Category - (Value) | Other |
| Intermediary services 2: Other Role Description - (Value) | Evaluator |
| Outcome Metrics 1: Id | outcomemetric1 |
| Outcome Metrics 1: Outcome Definition - (Value) | Survival of business after ten months. |
| 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) | Improvement in household spending on basic needs after 24 months. |
| Outcome Metrics 2: Primary SDG goal - (Value) | 1 |
| Outcome Metrics 2: Primary SDG target - (Value) | 1.1 |
| Outcome Metrics 2: Secondary SDG targets - (Value) | 1.3 |
| Documents 1: Title - (Value) | Refugee Impact Bond - Press release |
| Documents 1: URL - (Value) | https://s3.eu-west-2.amazonaws.com/golab.prod/documents/RefugeeImpactBondLaunch.pdf |
| Documents 2: Title - (Value) | Evaluation framework - Mathematica |
| Documents 2: URL - (Value) | https://golab.bsg.ox.ac.uk/documents/Mathematica-RefugeeDIB_Evaluation_framework.pdf |