+1 City Offering Social Impact Bonds for Homelessness

The City: Madrid Spain

How would it work for procurement? 

• procurement of service providers would be carried out through social outcomes contracting methodologies
• Madrid is only required to pay for the services if the objectives are achieved

What the social impact bond will fund: “improving the effectiveness of services for vulnerable people residing in temporary accommodation”

Will the City of Madrid have partners in its social impact bond? Yes, the European Investment Advisory Hub, funded by the European Commission and the European Investment Bank (EIB)

European Commission | EIB and Municipality of Madrid promote the city’s first social impact bond, putting Madrid at the forefront of social policy