Impact Bond: Cali Progresses with Employment
Stage of development: Implementation
Policy sector: Employment and training
Social challenge: Unemployment
Intervention: The SIB aims to employ vulnerable individuals in formal jobs and support them in retaining those jobs (ideally for 6 months but at least for 3 months). The SIB supports a range of employment measures, including soft and hard skill training, psychosocial support, socio-occupational orientation, and intermediation services for job placement and retention. The intervention was originally designed by ACDI VOCA, Fundación ANDI, and Fundación Corona.
Start of service provision: 2019-02
Total investment commitment currency: COP
Total investment commitment: 2700000000
Total investment commitment (USD): 867231.7579
Target population: Individuals not formally employed at the start of the program, aged 18-40,  and who had not participated in employment programs launched by the Municipality of Cali in the last 2 years. Participants also had to meet one of the following requirements: score below 41.74 on the Beneficiary Selection System for Social Programs (SISBEN), belong to Red Unidos or Gestores (government programs for particularly vulnerable communities), or be victims of displacement due to armed conflict.
Targeted number of service users or beneficiaries: 856
Notes: The Swiss Secretariat is the outcome funder. IDB Lab, with SECO funding, is the copayer, with the Cali Municipality. Cali and the I-Lab, as co-payors, will only pay for the individuals that actually find and retain stable employment, for at least 3 to 6 months, and not for activities that the program operators will be providing (such as training courses or job intermediation with employers). The results of the program will be verified by Deloitte, which will serve as the independent auditor.