Impact Bond: Village Enterprise Development Impact Bond
Stage of development: Complete
Policy sector: Poverty reduction
Intervention: The Village Enterprise DIB microenterprise development program seeks to improve the income levels of 12,000+ extreme poor households in rural Kenya and Uganda by creating 4,000+ sustainable microenterprises. The Village Enterprise’s (VE) microenterprise development program delivers cash in the form of a cash grant as well as regular business mentoring and training, this approach is commonly known as a graduation Programme. There are 5 components to the Programme: targeting, business savings groups, training, seed funding and mentoring.
Date outcomes contract signed: 2017-11
Start of service provision: 2017-11
Total investment commitment currency: USD
Total investment commitment: 2325000
Total investment commitment (USD): 2325000
Target population: Individuals living in extreme poverty (less than $1.90 PPP per day) that have no experience of operating a business

The VE DIB is implemented in remote rural areas of Kenya and Uganda, East Africa where more than 50% of the population live in extreme poverty. 

Poor households are identified using a hybrid combination of a community-based Participatory Wealth Ranking exercise and a survey using Grameen’s Progress Out of Poverty Index (PPI). Participatory Wealth Ranking uses consultations with community members, usually village elders, to identify the poorest households relative to the rest of the community. PPI attempts to establish a household wealth by using a simple questionnaire about household characteristics. 
 
Actual number of service users or beneficiaries engaged: 14000
Actual unit type: Individual
Service and beneficiaries notes: Originally, 14,772 but only 13,839 got both first and second grants. The program funded by the Village Enterprise DIB was implemented in 241 villages across western Kenya
and eastern Uganda from 2017 to 2020. A total of 14,772 ultra-poor households were offered to
participate in the program