- 2020, 27 f
In another stage to further develop the Social Impact Bonds (SIB) market, in September SITAWI took on the role of Technical Secretariat management of the Latin American Payment for Results Network (Red PxR) for the period of 2020/2021. In this position, SITAWI will be responsible for the coordination of activities and of monitoring the Network’s work plan, with the intentions of identify opportunities for the development of the ecosystem of these instruments in the region.
Red PxR is a joint initiative between SITAWI and ten other organizations from countries like Argentina, Colômbia, Chile, México and Peru, that act in different spheres in the promotion of instruments of Payments by Results. Cooperation between these countries is mainly based on sharing knowledge, strengthening technical capacities and articulate with actors from the public and private sectors the implementation of solutions that promote greater efficiency to social programs.
“The SIB bring a new perspective on how to face social challenges. The focus on results encourages more efficient and flexible management, which allows programs to adjust to the real needs of individuals. Today we have some successful examples in Latin America, especially in terms of access to employment. Therefore, the exchange of learning and the collaborative work between the countries that are in charge of these experiences is, without a doubt, a very rich process ”, points out Leonardo Letelier, SITAWI’s CEO.
Since 2017, three social impact bonds have been launched, two in Colombia and one in Argentina, promoting social interventions focused on breaking barriers to employment access by vulnerable groups. In 2020, the first Payment for Results Fund in the region was also implemented in Colombia.
SITAWI has been developing a pioneering work in the area of Social Impact Bonds in Brazil when seeking innovation and supporting solutions that allow contracting and financing complementary interventions to public services. This process started with a partnership with the Inter-American Development Bank (BID) through the Multilateral Investment Fund (FUMIN) to develop this tool in the country, followed through collaboration with state governments to analyze the viability of SIB in the health industry and, in 2019, with the 1st Call of Social Impact Contracts for public managers.
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