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We brought together academic and practitioner perspectives to reflect on the role of outcomes-based financing and impact bonds in building resilient services during the Covid-19 pandemic.
Engaging with Evidence is a series of interactive online convenings hosted by the Government Outcomes Lab (GO Lab) and designed to encourage a greater understanding of the latest evidence on the use of cross-sector partnerships focused on outcomes. The sessions are hosted monthly, and attract a diverse range of practitioners from different sectors, as well as researcher from across the world.
At the GO Lab, we believe in the importance of building independent, high-quality evidence and disseminating it effectively to inform policy decisions and improve practice on the ground. As new evidence around the use of outcomes-based approaches is starting to emerge, we hope that with this series of online convenings we can continue to bridge the gap between evidence and practice, and help foster real dialogue between policymakers, practitioners and researchers in an honest, transparent and constructive way. Both veterans and explorers interested in better understanding the latest evidence around the use of outcomes-based approaches are welcome to join these sessions.
Throughout 2021, Engaging with Evidence will offer an open platform for policymakers, practitioners and researchers around the world to engage with key findings from the latest research and evaluation work in the field. They will have the opportunity to discuss new evidence directly with the authors of research and evaluation studies, hear the practical insights of the partners involved in the development and implementation of the projects under discussion, and reflect on the relevance of the evidence to their own work.
Each session lasts 90 minutes and features contributions from a diverse panel of experts, as well as ample time for contributions and questions from all participants. Discussions at each session are grounded in the findings of a recent evaluation or research study, with additional practical insights brought in by stakeholders directly involved in the work or project under discussion. Each session follows a set format:
Covid-19 has exacerbated gaps in financing and delivery of public services. Across the world, there is a need to respond to growing demand pressures but governments’ abilities to do so are constrained by adverse effects on already-stretched public finances and government operations. While outcomes-based financing and impact bonds have recently gained traction as helpful tools, can their strengths be channeled towards post-pandemic recovery?
In the sixth session of the Engaging with Evidence series, we brought together academic and practitioner perspectives to reflect on the role of outcomes-based financing and impact bonds in building services that are resilient and can aid recovery from Covid-19. The discussion was built on recent research from the Government Outcomes Lab and the World Bank, discussing the opportunities these tools can bring as well as complications that need to be addressed.
Manchester Metropolitan University and University of Southern California: Social impact bonds 2.0?: Can impact bonds help to cure "social long Covid"?
The Brookings Institution: Harnessing private capital and tying funding to results to build back better
The Brookings Institution: Partnerships for public purpose: The new PPPs for fighting the biggest crises of our time
The Brookings Institution: What happens in an outcome-based financing model when a major crisis hits?
The Brookings Institution: Measuring the success of impact bonds