Impact Bond: Proyecta Tu Futuro [Plan Your Future] - Buenos Aires Youth Employability SIB
Also known as: VIS Buenos Aires
Stage of development: Complete
Jurisdiction: AR
Policy sector: Employment and training
Social challenge: Youth unemployment of extremely vulnerable youth.
Intervention: Reduce youth unemployment in the city of Buenos Aires, focusing on vulnerable unemployed young citizens and vulnerable young citizens that have not finished high school. The intervention will provide weekly workshops on soft skills training, employment support, orientation and intermediation with companies. The intervention seeks to help the participant find and retain a job, and graduate from high school (if the participant has not graduated yet).
Primary SDG goal: 8
Date outcomes contract signed: 2018
Start of service provision: 2018-12
Anticipated end of service provision: 2021-12
Actual end of service provision: 2022-05
Anticipated duration of service provision: 36
Actual duration of service provision: 41
Total investment commitment currency: ARS
Total investment commitment (min): 26620000
Total investment commitment (max): 48400000
Maximum potential outcome payment: 48400000 ARS
Maximum potential outcome payment (USD): 1245496.654657746
Maximum potential loss: 1
Maximum potential return type: IRR
Maximum potential return: 0.066
Configuration of the contracting parties: All investors were part of an SPV named 'Fideicomiso VIS'
Finance notes: To convert minimum and maximum amounts of total investment commitment, we use the average exchange rate of the year in which Accrux Partners was structing the impact bond. To convert the amount of maximum potential outcome payment, we use the average exchange rate of the year in which the different investors disbursed the funds. All other prices in this spreadsheet are converted into USD using this last exchange rate. 
Target population: Participants must meet the following criteria: (1) Ages between 17-24, (2) live in the communes 4, 7, 8, 9 or 10 of the city of Buenos Aires, (3) meet one of the following three criteria: (a) have finished high school, (b) currently coursing the last year of high school, or (c) have abandoned high school but have only 6 courses left to complete it, and (4) have no formal employment.
Targeted number of service users or beneficiaries: 1000
Targeted unit type: Individual
Targeted unit description: The total number of participants was set at 1,000, all between the ages of 17 and 24. Furthermore, someone within each participant’s household needed to be a beneficiary of the Universal Household Allocation
or BA Citizenship
Actual number of service users or beneficiaries engaged: 875
Actual unit type: Individual
Changes to project due to COVID-19: Continue on outcomes contract with variations
Notes: Changes due to COVID-19 pandemic: it was agreed with the Government of the City of Buenos Aires that outcome achievements from vulnerable young people would be payed as outcome achievements of extremely vulnerable young people. Also, the Government expanded the target population of the project, adding the possibility to work with young people from other left behind neighborhoods. The period for entering a new job was extended form 6 to 12 months after finishing the trainig.