A few weeks ago, the World Bank launched the Pandemic Emergency Financing Facility” (PEF). It is an exciting example of social financing supporting outcomes at scale. Here’s how it works. It has raised $425m via bonds and swaps. If no pandemic occurs, investors will be repaid their principal in full, plus a return. If a pandemic occurs, then investor principal will be instead used to quickly respond to the crisis. In short, the PEF functions as a kind of insurance that kicks in in the event of a bad outcome.
At Third Sector, we believe that our value-based approach is integrally tied to our success. We often find it difficult to explain what we do without also explaining how we do it. Each of our engagements with governments, service providers, funders, and other stakeholders is shaped by our culture, and nothing explains our culture better than our mission and values.
Third Sector’s mission, to accelerate America’s transition to a performance-driven social sector, does more than simply set out what we are trying to do. More importantly, it implies three crucial points that