Social Ventures Australia (SVA) has launched South Australia’s first social impact bond, which will fund a program addressed at ameliorating the effects of homelessness.
The seven-year, $9 million Aspire Social Impact Bond (SIB) will fund the working capital of the Aspire Program, which is a partnership between the South Australian state government, Hutt St Centre and Common Ground Adelaide. The Aspire Program is “based on a housing first model and with a strong focus on employment, up to 600 participants will be provided stable accommodation, job readiness training, pathways to employment and life skills development,” according to SVA.
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