Impact Bond: Creating conditions for low-income families with children to overcome a difficult life situation - Russia
Stage of development: Implementation
Jurisdiction: RU
Policy sector: Poverty reduction
Social challenge: In Primorsky Krai - Russian Region located on the Far East of the country - part of the population lives in remote areas with low availability of social infrastructure. This "social contract" is an instrument, which allows low-income families to overcome a difficult life situation. It was developed by the social authorities taking into account each family condition. The project aims to accelerate the conclusion of social contracts by families with children in remote areas to improve their quality of life.
Intervention: Russian Post, the national postal operator of Russia, has a large chain of post offices, which are located even in the smallest settlements and are trusted by local residents. Using the resource, Russian postmen perform the following activities: 
- informs low-income families with children, living in the pilot territories, about the possibilities of a social contract;
- provides targeted consultation for families before and after the conclusion of social contract;
- conduct a survey of families with children in the pilot territories on the socio-economic situation, which will additionally identify families for registration with the social protection authorities of the region, with the opportunity to join a social contract.
Primary SDG goal: 10
Date outcomes contract signed: 2020-12
Date contracts between all parties signed: 2021-02
Start of service provision: 2021-02
Anticipated end of service provision: 2022-01
Actual end of service provision: 2022-01
Anticipated completion date: 2022-01
Actual completion date: 2022-01
Dates notes: In this case, the main parameters of the contract, such as social effects, outcome metrics, target beneficiares, start and end date of service provision, investment and outcome payments were set in the regional government legal act (source2), which is considered as an outcomes contract. After the signing of the regional legal act, all other contracts  are signed between the project participants.
Total investment commitment currency: Russian Ruble
Total investment commitment (min): 9560465
Maximum potential outcome payment: 9560465 Russian Ruble
Maximum potential outcome payment (USD): 126456.66093935799
Maximum potential loss: 1
Finance notes: The price of the project was the result of negotiations of all parties and pricing was based on the approximate costs of provision of services. The success of the project will be recognized provided that at least 90% of the target level is achieved for each of the indicators. Payment upon reaching part of the effect is not provided.
Target population: Low-income families with children, living in remote areas of Primorskiy Krai (5 municipalities)
Targeted number of service users or beneficiaries: 2367
Targeted unit type: Other
Targeted unit description: families
Service and beneficiaries notes: Actual number of unique beneficiaries is based on data from the outcome payer.