Appendix B: Three Example SIBs
The Higashiomi City Pilot SIB (2016) The Higashiomi City SIB was the first SIB to be issued in Japan as a pilot—following the examples of the Peterborough and Educate Girls pilots. Intervention The SIB focused on employment and training and was designed to create jobs via support for tender applications for various subsidy schemes from companies and organizations in the city. Investee organizations were selected by a committee set up by the Higashiomi Sanpoyoshi Kikin from applications for various subsidy schemes in the city. After the completion of a project, the investees were required to submit a performance report against agreed targets, which triggers outcome payments. Contract n Outcomes payer: Higashiomi City n Maximum potential outcome payment of ¥13.13 million (about US$84,000) n Investor: Plus Social Investment (provided working capital) n Target population: unemployed youth n Service provider: Companies and other organizations and service delivery organizations Outcome Metrics After the completion of the projects, companies submitted a report on the achievement of their employment performance target. Based on this report, the Board examined the degree of achievement of the results of each adopted project and agreed outcomes payments accordingly. Since this was a pilot SIB, the organizations that applied for funding determined their own performance indicators and targets appropriate to their projects. Those indicators and targets were then discussed by the selection committee, which set the final performance indicators and targets. There were two types of performance targets set by the selection committee for the selected companies and organizations: quantitative and qualitative targets.
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Ten Years in the Making
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