Impact Bond: Early Childhood Development (ECD) Impact Bond Innovation Fund
Also known as: The Impact Bond Innovation Fund
Stage of development: Complete
Policy sector: Child and family welfare
Intervention: The Western Cape Foundation for Community Work (FCW) is a development and resource ECD organization that promotes the holistic development of children within the context of their families and communities, through innovative, integrated, and sustainable interventions and programmes. FCW is delivering its Family in Focus Programme in a home visitation programme where community caregivers work with parents or caregivers and children in the home to deliver ECD programming focusing on the needs of pre-school aged children. Over a three year period, the IBIF, through FCW, will seek to improve the cognitive and socio-emotional development outcomes of more than 2,000 children in the low-income communities of Atlantis and Delft, in the Western Cape province of South Africa.
Date outcomes contract signed: 2018-06
Start of service provision: 2018-01
Anticipated end of service provision: 2020-12
Total investment commitment currency: South African Rand
Total investment commitment: 9034100
Total investment commitment (USD): 1039296.054
Target population: Children aged 3 to 5 drawn from the low-income communities of Atlantis and Delft in South Africa’s Western Cape Province.
Targeted number of service users or beneficiaries: 2000
Targeted unit type: Individual
Actual number of service users or beneficiaries engaged: 4000
Actual unit type: Individual
Notes: Impact Bond Innovation Fund PLC is a special purpose vehicle representing consortium comprising Volta Capital (Financial Intermediary), mothers2mothers (Technical intermediary with ECD sector expertise) and the Western Cape Foundation for Community Work (ECD service provider that delivers services on the ground)