Social Impact Bond
Location: Norfolk, United Kingdom
Launch date: 2019
Duration: 60 months
Capital raised: £7.2m
Policy area: Children’s social care
Government outcomes fund: Life Chances Fund (Department for Digital, Culture, Media & Sports, Big Lottery Fund)
Commissioners: Norfolk County Council (Local government), Department for Digital, Culture, Media and Sport (DCMS) (Central government)
Providers: Family Psychology Mutual
Investors: Bridges Fund Management
SIB structure: Intermediated
Target population: Children and young people (C&YP) aged 8-15 are in care. The project specifically targets young people who are at risk of entry into care where the family is experiencing dysfunction and where care could be avoided through intensive interventions.
Size of cohort: 400
Norfolk County Council (NCC) aim to reduce the number of days children and young people (C&YP) aged 8-15 are in care. This will generate savings to the council and also keep C&YP in the family home. There will be improvements to C&YPs school attendance, educational attainment and emotional wellbeing.
Short of a total 'black box' approach, providers will deliver an intervention within a specification with key criteria including: a strong evidence base, a fidelity based model, capability to become a part of the local service system
The number of care days saved over a 33% deadweight threshold
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.