There are risks in doing something new, but there might be even more risks in doing the old!


Impact bonds , one of the pay-for-success financial mechanisms bringing impact investors, private, public and third sector organizations together to solve social and development issues, have recently faced some criticism about their complex nature, which can lead to a long design phase and high related transaction costs. We, at UNDP Istanbul Hub and Finnish Innovation Fund Sitra , put our heads together and thought about the challenges around impact bonds. There was a mutual understanding that what comes to preventing and solving wicked societal problems, the impact is achieved together – the core idea and benefit of impact bonds. Sitra has been using co-creation as a mechanism to boost the design of social impact bonds (SIB) in Finland and...
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