Mark Green, administrator of the U.S. Agency for International Development, will announce a new development impact bond aimed at reducing maternal and newborn deaths in India, during the closing plenary of the 2017 Global Entrepreneurship Summit.
Launched Thursday, the Utkrisht Impact Bond, named for the Hindi expression for excellence, will fund maternal and newborn health in the Indian state of Rajasthan. DIBs are results-based contracts, in which investors — in this case UBS Optimus Foundation, a grantmaking organization focused on improving the lives of children — provide financing for social programs upfront. Then donor organizations — in this case USAID and Merck for Mothers — repay investors their principal plus a return determined by whether targets are achieved. DIBS are focused on outcomes, in this case improving the access to and the quality of care in up to 440 private health care facilities in the state, so that they achieve the new certification standard developed by the National Accreditation Board of Hospitals and Healthcare Providers and the Federation of Obstetric and Gynaecological Societies of India.
Read the full article about the new impact bond from USAID by Catherine Cheney at Devex International Development.
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