Social Impact Bond
Location: Cheshire, United Kingdom
Launch date: 2018
Duration: 60 months
Capital raised: £1.09m
Policy area: Children’s social care
Government outcomes fund: Life Chances Fund (Department for Digital, Culture, Media & Sports, Big Lottery Fund)
Commissioners: Cheshire West and Chester Council, Department for Digital, Culture, Media and Sport (DCMS) (Central government)
Providers: Core Assets
Investors: Bridges Fund Management
Advisor: Social Finance
SIB structure: Direct
Target population: The project will work with four cohorts of 6-8 children per annum aged 7-17 in residential care or at risk of entering residential care to help improve their emotional well-being and overall outcomes by supporting stable, long-term placements.
Size of cohort: 30
This project will ensure that children receive the right care at the right time in their care journey. The Council will commission a service to help children transition to stable, highly-supported foster care placements. The intent is to achieve a long-term reduction in need. This may include 'stepping down' into mainstream internal or independent fostering.
The Council will use a black box commissioning approach, and will provide an indicative example of the long-term intervention it intends to commission. The commissioned service will be expected to provide a high intensity foster care intervention, which supports children to achieve a long-term reduction in complexity and need.
Supporting children and young people in foster care, as an alternative to residential - weekly fee.
Improved health, wellbeing, educational attainment.
More detailed information on this project can be found in the Data Template Excel sheet linked below, with a full list of sources. All fields are defined according to our data dictionary.