Are Social Impact Bonds Financing The Future Of Social Services?

Global banks such as Bank of America Merrill Lynch, Goldman Sachs, JP Morgan Chase and Co. and Morgan Stanley have played a key role in promoting and funding social impact bond projects in anticipation of attracting wider private investor interest. Foundations, in particular the Rockefeller Foundation and the J.B. and M.K. Pritzker Family Foundation, have similarly promoted and funded projects. Impact investment and social finance organisations have published reports that portray social impact bonds as the ‘best thing since sliced bread’.

International bodies have also advanced the cause of social impact bond projects. The G8 group of countries . . .