May 30th, 2016
Private investors would stand to profit by backing successful programs tackling social disadvantage under a proposed new scheme.
Under the social impact bond program, investors would bear the financial risk for funding the projects.
They would receive dividends generated through savings for the Victorian government if the projects met or exceeded agreed goals.
The NSW government has already introduced social bonds to fund services, while similar schemes have been adopted by governments in the US and UK.
Now the Victorian government is moving towards launching a similar scheme, setting aside $700,000 in the latest budget to investigate the concept.
In conversation with Nicole Richards at the Philanthropy Meets Parliament Summit, Daniel Lee shared his insights on topics including the role of philanthropy as a driver of systems change which addresses root causes of social challenges, the relationship between philanthropy and government and what the new political environment in the United States means for philanthropy.
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