Impact Bond: Istanbul Kodluyor (Istanbul codes)
Also known as: Turkiye Outcomes Partnership
Stage of development: Implementation
Jurisdiction: TR
Policy sector: Employment and training
Social challenge: The youth unemployment rate in Turkiye is estimated to be at least 20% (this may under-represent the challenge, as many young adults are dropping out of the labour force altogether). There is a growing ICT industry sector in Turkiye, but the challenge is a skills mismatch – high demand for ICT jobs but very few candidates with the required skills.
Intervention: The purpose of the project is to provide 600 unemployed young people with skills and integrate them into the workforce. Companies will also be able to meet their demand for trained human resources in the software area.
Primary SDG goal: 8
Secondary SDG goals: 1,5
Date outcomes contract signed: 2023-08
Start of service provision: 2023-08
Anticipated end of service provision: 2025-07
Anticipated duration of service provision: 24
Total investment commitment currency: USD
Target population: Young adults aged 18-35 in Turkiye, who have been not in employment, education, or training for at least 6 months
Targeted number of service users or beneficiaries: 600
Targeted unit type: Individual