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Rita Perakis is assistant director and senior policy analyst on CGD’s global education team. Previously she worked as a manager at Ark Education Partnerships Group where she was responsible for projects in Uganda and Cote d’Ivoire that focused on strengthening public private partnerships and accountability in education systems. She has worked on education, aid effectiveness and innovative finance at Social Finance UK and in previous roles in CGD’s DC and London offices. Perakis holds a BA from Emory University and MPA from Columbia University’s School of International and Public Affairs.
The government of Washington DC recently announced plans to launch its first Social Impact Bond (SIB), an innovative finance approach that in this case will be aimed at reducing teen pregnancy and improving educational outcomes for teenagers.
If one thing was clear at the first High Level Meeting of the Global Partnership for Effective Development Cooperation, it’s that the 1500 people in attendance— representing the governments of developing, emerging and rich countries, multilateral institutions, business, philanthropy, and civil society—were not interested in how aid can be delivered more effectively from rich to poor countries but how the wide and growing range of actors who contribute to development can work together more effectively.
Development Impact Bonds (DIBs) are a new approach to designing and funding development programs that bring together governments, donors, private investors, and non-profit and private sector service delivery organizations to deliver results which society values.