World’s First Domestically Funded Sustainable Development Goals Bond launched
Child Fund and Grameen Impact Launch a Pioneering SDG Impact Bond for Women’s Empowerment
Creating a New
Global Paradigm of Innovative ways of Financing the SDG Bond
New Delhi,December 19, 2018 – Theworld’s first domestically funded Sustainable Development Goals Bond (SDG Bond)was announced today by ChildFund India (ChildFund) and Grameen Impact Investments India (Grameen Impact). The Women Holistic Empowerment and Enhanced Livelihood (WHEEL) Impact Bond has been launched under the Grameen Outcome Accelerated Lending (G.O.A.L) Impact Bond Series.
The WHEEL Impact Bond would work towards
helping 2000 marginalized tribal women in Maharashtra & Madhya Pradesh to
become self-reliant and empowered by training them to become poultry farmers
(micro-entrepreneurs), with a specific outcome target of an average annual net
income of INR30,000 through this intervention. The social outcomes of the Bond
directly align with the SDGs: Goal #1 No Poverty, Goal #5 Gender Equality, Goal
#8 Decent Work and Economic Growth, and Goal #10 Reduced Inequalities.
ChildFund (the implementing agency) will execute the project with the funds
Grameen Impact has committed, i.e. INR 7.5 Cr (as the upfront investor).
Grameen Impact has additionally taken on the role of identifying outcome
funders for the Bond.
“ChildFund India has always believed that
strategic Public- Private Partnerships are essential to achieving the outcomes
as in the SDGs. Impact Bonds are an excellent vehicle to demonstrate
accountabilities, results and therefore the change that we all wish to see.
ChildFund is indeed privileged and proud to launch the first domestically
funded SDG Bond focused on women empowerment and livelihood. I am grateful to
Grameen Impact for its partnership and resources that they bring to the table,”
said Neelam Makhijani, CEO &Country Director, ChildFund India, on
the launch of this Bond.
Royston Braganza, CEO of Grameen Impact,
while announcing the SDG Bond said “It is estimated that over $30
trillion is needed to meet the global SDGs target. We believe this can only
happen when government, corporate funding, capital markets and philanthropy
join hands. The world is looking at India which is now a global leader in social
innovation and impact investing. We at Grameen Impact are delighted to come up
with an innovative financing instrument, focused on the SDGs, which uniquely
combines impact investing, CSR and social enterprises.”
The WHEEL Impact Bond, the first in the
G.O.A.L series, aims to present a successful workable structure to private
investors, corporates as well as the government, creating a mindset shift from
input/output funding models to outcomes-based financing, which could be pivotal
in achieving the SDGs by 2030. By launching the G.O.A.L series, Grameen
Impact presents a new model for financing social outcomes in the
international SDG and impact sector; the WHEEL Impact Bond has emerged as the
fastest implemented SDG Impact Bond – closed within 3 months as compared to the
traditional 2–3 years to close – creating a new global paradigm of
innovative ways of financing the SDGs.
About ChildFund India
ChildFund India is a part of
ChildFund International – a child protection and development organization working
in 25 countries and annually assisting around 18 million children, youth and
their families globally. For over 6 decades, ChildFund India has been working
with underprivileged children, youth and families from the most remote,
extremely backward and hard-to-reach areas, with a vision of “an India where
children lead a dignified life and achieve their full potential”. ChildFund
India annually reaches nearly 3 million children, youth, and their families
across 15 States through its long-term programs by investing nearly 60-70
Crores a year. ChildFund’s unique programs provide comprehensive support to
children from their conception until they reach 24 years of age by integrating
health, nutrition, sanitation, gender equality, disability, education, skill training,
livelihoods, child protection and humanitarian relief work.
longstanding community presence and long-term partnership with grassroots NGOs
enables effective implementation of its programs. The award-winning
organization has been successful in establishing relations with relevant
stakeholders including the communities it works with, district, state and
national government bodies, academic institutions, media, funding agencies and
corporates to achieve their mutual goals.
About Grameen Impact Investments
India Pvt. Ltd.
Grameen Impact India (GIII) is a RBI
registered NBFC focused on lending to enterprises engaged in social sector with
an emphasis on double bottom line returns – financial returns along with
demonstrated social impact. GIII lends selectively to high quality social
enterprises across stages from early, growth to mature entities.
The lending focus is on impact
enterprises in financial services, affordable education and skill development,
affordable healthcare, agriculture and clean energy sectors. GIII’s goal is to
catalyze access to debt capital critical to scaling up social enterprises and
help them reach poor and excluded population.
GIII is promoted by Grameen Capital
India (GCI) which was globally the first social investment bank set up as a
Social Business following the 7 principles of Nobel Laureate Prof. Yunus. Over
the last decade GCI has helped complete 25+ transactions in excess of $160M for
social businesses in India. GIII also counts marquee names from the Indian
corporate world and leading global impact funds as its investors