Impact Bond: Rising Academy Network - Sierra Leone Education Innovation Fund
Also known as: Rising Academy Network
Stage of development: Implementation
Policy sector: Education
Social challenge: Lack of student learning in school is a key factor contributing to student dropout in schools. Sierra Leone has one of the highest out-of-school children in primary numbers when compared to similar countries in region.
Intervention: The Sierra Leone Education Innovation Challenge (SLEIC) is an outcomes-based fund through which 5 Grantees (providers and/or social investors) will implement 5 unique education interventions across five distinct geographical lots that cover all the districts in the country. This is one of the 5 interventions.
Primary SDG goal: 4
Secondary SDG goals: 1, 3, 5, 10
Date outcomes contract signed: 2022-09
Start of service provision: 2022-09
Anticipated end of service provision: 2025-08
Anticipated duration of service provision: 36
Total investment commitment currency: USD
Total investment commitment (min): 1069370
Total investment commitment (max): 1320000
Maximum potential outcome payment: 2217949 USD
Maximum potential outcome payment (USD): 2217949
Target population: Grade 1-6 primary school students in public schools in Sierra Leone
Targeted number of service users or beneficiaries: 7986
Targeted unit type: Individual
Service and beneficiaries notes: The five SLEIC projects will work with 134,000 children in Sierra Leone.