THE
n March 15, 2016 Martine Pinville, Undersecretary of State for the Social and Solidarity Economy of the French Government officially launched the “Social impact contract”, a tender, open until 30 January 2017, with the aim of selecting projects that include Social Impact Bonds.
The social impact contract, as the instrument has been named, will be able to help him development of innovative programs of social prevention or propose new responses to emergencies such as social exclusion, illiteracy to fight addictions.
The official site goes like this: “The social impact contract is a new tool that the Government is putting in place to respond to social needs such as exclusion, illiteracy or dependency, with innovative solutions. It is a question of offering social actors safe and transparent access to private investments to bring about social and innovative programs".
EXAMPLE
Thanks to this mechanism, a social actor, for example an association, will be able to receive un funding for a prevention program from a private investor, which will in turn be reimbursed by the public authority in only successful case of social intervention. A contract of this type could be applied to a program to accompany single mothers in difficulty or to reduce the recidivism rate of ex-convicts.
This tool, built with a view to accompaniment, is part of the Government's policies for the development of the social and solidarity economy and has the objective of responding to unsatisfied social needs, in a clear and reassuring legal context. In this way, social actors can access, in a transparent and secure framework, private investments for experiment with new models and develop ambitious social programmes.
