Impact Bond: Colombia Workforce Development SIB: Empleando Futuro
Stage of development: Complete
Policy sector: Employment and training
Social challenge: Unemployment
Intervention: In this SIB, the aim was to employ vulnerable individuals in formal jobs and support them in retaining those jobs (for at least three months). The SIB supported a range of employment measures, including skills training, psychosocial support, and intermediation services for job placement and retention, for 766 vulnerable individuals. The intermediation services included: Analysis of the context of the labour market, raising awareness of potential employers, managing strategic relations with potential employers for this population profile, the characterization and preparation of participants, and the accompaniment of companies and beneficiaries to identify opportunities to articulate the vacancies with candidates. Job placement and job retention for 3 months were the two core-metrics, each of which represent half of the base repayment amount. The IDB-MIF / SECO provided a bonus payment of 10 percent of the overall price of the two metrics for 6-month job retention. 
Date outcomes contract signed: 2017-03
Start of service provision: 2017-05
Anticipated completion date: 2019-12
Actual completion date: 2019-12
Total investment commitment currency: COP
Total investment commitment: 960000000
Total investment commitment (USD): 325277.3648
Target population: Individuals not formally employed at the start of the program, aged 18-40, and who had not participated in these two national employment programs: "Empleos para la Prosperidad" or "Mi Negocio". Participants also had to meet one of the following requirements: scored below 41.74 on the Beneficiary Selection System for Social Programs (SISBEN), were registered in Red Unidos, or were victims of displacement due to armed conflict.
Actual number of service users or beneficiaries engaged: 899