Belgian impact finance firm Kois Invest began working on an impact bond for job creation for refugees in 2016 in response to the refugee crisis, funded through a grant from non-profit Convergence in Canada.
The goal is to create a bond structure in which private investors supply working capital to service providers that are delivering evidence-based livelihood programmes to Syrian refugees. Investors are paid back if and when social outcomes are achieved, with a financial return that varies with the level of social impact.
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