Since 2014, Brookings has tracked the development of the global impact bond and outcomes funds markets across all sectors, providing updates on the characteristics of contracted deals, as well as analyzing the potential and limitations of these outcome-based financing tools. A particular focus of Brookings impact bonds and outcomes funds research is on education and early childhood development in low- and middle-income countries. We are particularly interested in the potential for innovative technology solutions to support data-informed decisionmaking and performance management. Thus far, the research has shown that impact bonds and outcomes funds have the potential to help address a wide range of social challenges in high-, middle-, and low-income countries. Some challenges remain in their design and implementation, and rigorous evidence is still lacking about the effectiveness of outcomes-based financing compared to traditional financing mechanisms.
For the latest data on impact bonds, see our monthly snapshot.
![Photo: The colors of the Colombian flag are reflected in a canal next to the convention center in Cartagena, Colombia. [Reuters/Jaime Saldarriaga]](https://i0.wp.com/www.brookings.edu/wp-content/uploads/2017/03/colombia_flag002.jpg?w=234&crop=0%2C15px%2C100%2C134px&ssl=1)
The future of outcomes-based financing: Transforming results for children
Breaking the cycle of poverty through innovative finance
Scaling quality education in India: Year 2 results of the Quality Education India Development Impact Bond and beyond
Mitigating the impacts of COVID-19 on the delivery of education programs in India
Webinar: Paying for education outcomes at scale in India
What can we learn from the results of the world’s first development impact bond in education?
Webinar: Impact bonds for health
Impact bonds in developing countries
