Social Investment Bonds

Part of Oral Answers to Questions — Justice – in the Northern Ireland Assembly at 2:00 pm on 15th June 2015.

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Photo of David Ford David Ford Alliance 2:00 pm, 15th June 2015

I have had no meetings specifically on social investment bonds, but my officials continue to explore potential options in this area. DFP is working with Departments to explore opportunities to pilot alternative financing models for public service delivery, including social impact bonds and the development of suitable procurement models. Social impact bonds are indeed a means of attracting private funds to finance interventions designed to achieve social outcomes. As the expected output of a social impact bond is success in improving social outcomes, there would be a requirement to meet outcome payments to private-sector investors if outcomes are achieved. The next step for relevant organisations is to consider the outcomes and affordability. My officials will continue to liaise with officials in DFP and elsewhere to further explore opportunities in this area.