Third Sector reports that the social impact bond model will be used in at least two of six payment-by-results schemes being launched with the backing of the Department for Work and Pensions in the UK.

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"The Department for Work and Pensions is supporting the schemes with its GBP 30m Innovation Fund, set up to attract private investment to tackle the problems faced by disadvantaged young people.

Under the the social impact bond model, investors will fund charities to carry out work with young people, and will be paid according to the success of those charities."

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