Two innovative new funds are launching in Rwanda and Sierra Leone that aim to expand access to quality early childhood care and education by tying the amount paid out by funders to specific results, including improved learning and access to services.
They’re examples of results-based funding mechanisms, also known as development impact bonds or outcomes funds, whereby project implementers — in this case, yet-to-be-selected nongovernmental organizations and other nonprofit education providers — only get paid according to the results they achieve.
The other unique aspect of the approach is that project implementers can raise pre-financing from social investors who only recoup their investment if pre-agreed targets are met.
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About the author
Sophie Edwards
Sophie Edwards is a Devex Contributing Reporter covering global education, water and sanitation, and innovative financing, along with other topics. She has previously worked for NGOs, and the World Bank, and spent a number of years as a journalist for a regional newspaper in the U.K. She has a master's degree from the Institute of Development Studies and a bachelor's from Cambridge University.
