Report on NZ social bonds pilot cites lack of commercial expertise by public officials

Thu, 15 Dec 2016

By Fiona Rotherham Dec. 16 (BusinessDesk) - A report on failures within the government’s first social bonds pilot blames them on a lack of commercial expertise from the bureaucrats involved. Work started in 2013 on social impact bonds where typically a central or local government pays private investors a return based on achieving agreed social outcomes. The government earmarked nearly $29 million in 2015 for the rollout of four bonds but the first one aimed at helping people with mental health problems get into the workforce failed to...

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