ONE is funded by social investment raised through a Social Impact Bond.
The Social Impact Bond was announced by then Justice Secretary Jack Straw and is an innovative way to bring new money into the social sector. A Social Impact Bond raises private investment to pay for services, which are delivered by social sector providers with a proven track record. Financial returns to investors are funded by the Ministry of Justice and are based on improved social outcomes. If outcomes do not improve, then investors will receive no recompense.
The Social Impact Bond in Peterborough funds organisations working to reduce the re-offending rates of short sentence male prisoners leaving Peterborough Prison. £5m has been raised from investors which is new money into the sector.
For more information visit Social Finance