The first SIB was launched in 2010 by Social Finance UK. Social Finance raised approximately USD 8 million from 17 trusts and foundations to reduce reoffending among short-sentenced offenders leaving Peterborough prison. The investor was a group of several trusts and foundations, and the outcome payer was the Ministry of Justice, UK. The project was successful as it surpassed its predetermined outcomes. Since then, about 108 impact bonds have been contracted globally. SIBs were more recently adapted into DIBs by replacing the government with external donors. This alteration has worked well insofar that in countries where the government may be reticent to enter into such an agreement, a private foundation can step in to play that role.