Skill Impact Bond is an initiative of the National Skill Development Corporation (NSDC) in collaboration with a coalition comprising HRH Prince Charles’s British Asian Trust, the Michael & Susan Dell Foundation, The Children’s Investment Fund Foundation, HSBC India, JSW Foundation and Dubai Cares, with FCDO (UK Government) & USAID as technical partners.
The outcome funders on this impact bond for skilling, have been convened by the British Asian Trust. Each funder brings their own strengths, perspectives, knowledge and learnings in the skilling and education sectors to the design of this impact bond. CIFF, HSBC India, JSW Foundation and Dubai Cares support the outcome fund. NSDC and MSDF are the risk investors that have committed US$4 million to provide upfront working capital to the service providers to implement the programme for the lifetime of the impact bond, in this case four years. If outcome delivery is achieved, risk investor funding is then reinvested each year.
The training will be imparted through NSDC’s affiliated training partners, namely, Apollo Medskills Ltd, Gram Tarang Employability Training Services Pvt Ltd, Learnet Skills Ltd, Magic Bus India Foundation and PanIIT Alumni Foundation.
The agreed outcomes will be assessed by an independent evaluator, Oxford Policy Management. Dalberg Advisors, the performance manager, will regularly measure outcomes so that delivery partners can reiterate and adapt to stay on track to achieve outcomes. Nishith Desai Associates is the legal partner for the impact bond.