Development agencies are increasingly interested in making aid more transparent, stakeholder-led, and effective by expanding the use of payment by results (PbR) — rewarding those implementing projects on the basis of results delivered instead of paying for inputs. For payment by results to work, you have to get a lot of things right. It has to be for the right kind of programme targeting the right results, properly measured and rewarded in the right way. These issues, and more, are laid out in Stefan Dercon and Paul Clist’s 12 principles for payment by results (PDF).
CGD Policy Blogs
Yesterday the UK Ministry of Justice released for the first time the official results of the Peterborough Social Impact Bond – the world’s first-ever SIB and the inspiration for many more SIBs to follow and CGD’s work on Development Impact Bonds.