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Home News NSW releases new social impact investment priority areas
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New South Wales continues to lead in the development of social impact investment practice in Australia with the release of its second statement aimed at guiding the market.
Increasing stability for children in out-of-home care, improving Aboriginal educational outcomes and increasing participation in early childhood education are the three areas highlighted as priorities in the government’s statement of opportunities this year.
The statement is an annual document published to help the social impact investing market understand where there may be opportunities for future transactions with the NSW government.
It builds on NSW’s two social benefit bond trials — a form of outcome-focused public private partnership — started in 2013. Under the social benefit bond model, trialled by UnitingCare Burnside and the Benevolent Society in NSW, private investors provide funds to service providers to deliver improved social outcomes. If agreed goals are reached — for example, reduced recidivism or fewer children going into out-of-home care — the government pays back a return on top of the amount invested.
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Tags : NSW Department of Premier and Cabinet, social impact investment, social impact bonds, social impact, NSW Office of Social Impact Investment