March 17, 2011
The Independent profiles GIIN board member Toby Eccles for his work developing a social impact bond which will finance prison recidivism prevention programs in the United Kingdom.
From original article:
"Imagine a world where the might of private capital could be harnessed to address society's most intractable problems. It sounds obvious, but social issues are so complex they make it mind-bogglingly difficult to do. But Toby Eccles is convinced he can crack the problem.
"The former UBS Warburg corporate financier has already launched the world's first ever Social Impact Bond. And that single pilot scheme could become a thriving, mainstream market funding everything from drug rehabilitation schemes to keeping children out of state care within as little as 10 years, he says."