Workshop "Development Impact Bonds: A New Frontier To Finance The Renewed Development Agenda?"

 

In collaboration with the Center for Global Development (CGD) & the European Foundation Centre (EFC), the OECD Development Centre and its Global Network of Foundations Working for Development (netFWD) organised the workshop "Development Impact Bonds: A New Frontier To Finance The Renewed Development Agenda?" on 24 October 2013 to discuss the concept and practical implications of the use of Development Impact Bonds (DIBs).

Development Impact Bonds are a new approach to finance development. They build on experience with Social Bonds and aim at providing upfront funding for development programmes by private investors, who would be remunerated by donors or host-country governments -and earn a return- if evidence shows that programmes achieve pre-agreed outcomes. The workshop built on the recent report developed by the DIB Working Group, which was co-chaired by CGD and Social Finance.

Participants from netFWD, EFC and the broader philanthropic sector, the private sector, NGOs, as well as selected bilateral and multilateral donors discussed how these new types of outcomes-based contracts can help achieve development outcomes and deliver more social impact in developing countries and whether partnerships could be envisaged between a variety of actors in a way that captures and complements the strengths which each player can bring to, and buttressing their respective weaknesses.

 

Agenda Outline


- Opening remarks by Mario Pezzini, Director, OECD Development Centre

- "Development Impact Bonds: A revolutionary tool to untap private sector resources?" - Presentation by Owen Barder, Senior Fellow and Director for Europe, Center for Global Development | Investing in Social Outcomes: Development Impact Bonds
Mr. Barder introduced the main features of DIBs and discuss how this approach could improve the quality and efficiency of public services in developing countries.

- Remarks by Toby Eccles, Development Director, Social Finance; and Mark O’Kelly, Head of Finance and Administration, Barrow Cadbury Trust
Mr. Eccles shared some insights about his experience of developing Social Impact Bonds in the UK.
Mr. O’Kelly reflected on the challenges and lessons learned to date from an investor's perspective.

- Moderated discussion chaired by Aart De Geus, Chairman and Chief Executive Officer, Bertelsmann Foundation

- Closing remarks by Mario Pezzini, Director, OECD Development Centre