Impact Bond: Caritas Perspektive (Caritas Perspective)
Stage of development: Implementation
Policy sector: Employment and training
Intervention: Based on the "Supported Employment Approach", the aim is to integrate refugees into the primary employement market as quickly as possible (first place, then train). After assessing a potential for a direct placement into the employment, an integration plan is drawn up with each participant, which sets out the goals and measures in the short and medium term; the future employer is closely involved in that process. Qualifying support measure take place during employement; likewise participants receive ongoing coaching. If a direct entry into employment is not considered as appropriate, particpants receive individual support measures to get employment ready. Each participant is allocated to a single coach. Employers can receive for a period up to 6 months a subvention for training in case the participant is not fully capable of fullfilling the work requirements. 
Start of service provision: 2015-07
Total investment commitment currency: Swiss Francs
Total investment commitment: 2700000
Total investment commitment (USD): 2805540.716
Target population: Recognised refugees or other migrants with a temporarily right to stay who are not in training or employment, show a medium to high likeliness for employment integration and fall under the jurisdiction of the canton of Bern. 
Targeted number of service users or beneficiaries: 120
Notes: 1) Key sources.  2) Evaluator: BASS (Büro für arbeits- und sozialpolitische Studien, BASS AG) - interim (2018) and final report (2021). 3) For performance management six indicators are used which differentiate between the level of employability. 100 points (corresponding to 100%) is the maximum sum if all targets have been achieved. 4) The provider is entitled to success payments and is liable to a penalty for underperfromance. If the agreed target is exceeded by 5% or more and up to a 40% excess, it is entitled to a bonus of up to 1.5% of total programme costs (CHF 40,500). If the agreed target is not not met by 5% or more and up to a 40% shortfall, it is liable to pay a penalty of up to 1.5% of total programme costs (CHF 40,500). Likewise for investors, if the agreed target is reached or exceeded investors will be repaid principal plus interest of 0.25% p.a. (CHF 33,750) and up to 1% p.a. for an excess in performance of 40% or more (CHF 137,700). If the agreed target is not reached, investors will not receive any interest and principal will not be repaid in full, with a maximum reduction of 4.9%  of total project costs for a shortfall in performance of 40% or more (approx. 1.0% p.a. = CHF 132,300)