#Transform credit reviews full
#Transform credit reviews plus
#Transform credit reviews professional

If above the benchmark, the social investor will receive its initial investment plus an annual return.

#Transform credit reviews professional

The efficiency - the ratio of how many people receive mobility devices per physical rehabilitation professional – is compared to existing centres. Independent auditors will verify the ICRC's reported efficiency in the three new centres.

#Transform credit reviews full

These funds will in turn be used to pay back the social investors partially, in full or with an additional return, depending on how well the ICRC performs in terms of the efficiency of the new centres. The initial payments by 'Social Investors' - (New Re, part of Munich Re Group) and others identified by co-sponsor Bank Lombard Odier - enable the ICRC to run the activities at each rehabilitation centre and hence expand the ICRC's Physical Rehabilitation Programme (PRP).Īt the end of the 5th year, 'Outcome Funders' - governments of Belgium, Switzerland, Italy, the UK and 'la Caixa' Foundation - will pay the ICRC according to the results achieved. It is not a 'bond' but a private placement. The 'Humanitarian Impact Bond' is legally known as the Program for Humanitarian Impact Investment.

There is great potential for investments that are built around improving the social, environmental and economic conditions so that humanitarian action advances in impact, effectiveness and scale in ways never seen before.' How it works 'We hope that once the pilot project is proven, it will demonstrate that non-traditional financing models can work. It is an opportunity not only to modernise the existing model for humanitarian action, but to test a new economic model, designed to better support people in need.' This funding instrument is a radical, innovative but at the same time, logical step for the ICRC. 'Today's humanitarian challenges are immense, causing suffering for many millions of men, women and children around the world. Peter Maurer, the ICRC's president, said:

In 2016, the Physical Rehabilitation Programme operated 139 projects in 34 countries, helping almost 330,000 people with physiotherapy and mobility devices including wheelchairs, artificial limbs and braces. The ICRC is the world's largest provider of physical rehabilitation services in developing and fragile countries. Of the 90 million people with physical disabilities who need a mobility device worldwide, only 10%, on average, have access to adequate physical rehabilitation services, leading to both social and economic exclusion.