Impact Bond: Chances
Stage of development: Implementation
Policy sector: Health
Intervention: The aim of the Chances Programme is to make the most disadvantaged neighbourhoods in the UK healthier, more connected and safer, by providing new opportunities and alternative life pathways for children and young people.
Date outcomes contract signed: 2020-06
Start of service provision: 2020-09
Anticipated end of service provision: 2024-08
Anticipated completion date: 2024-10
Total investment commitment currency: GBP
Total investment commitment: 1245000
Total investment commitment (USD): 1544674.6125
Maximum potential outcome payment: 4104000 GBP
Configuration of the contracting parties: Managed structure (bilateral outcomes contract between outcomes payer and intermediary organisation or intermediary-owned SPV)
Target population: Children and young people aged between 8-17 with specific issues - low school attendance, recent offenders, looked after children, NEETS, pre-NEETs, and young people with mental health problems.
Targeted number of service users or beneficiaries: 6720
Targeted unit type: Individual
Changes to project due to COVID-19: Pause project