Proyectá Tu Futuro: A Social Impact Bond for Education and Employability Training in Buenos Aires: A case study of a travelling policy

In 2018, “Proyectá Tu Futuro” (PTF), the first Social Impact Bond (SIB) in Argentina, was launched in Buenos Aires, aiming to simultaneously tackle the low graduation rates in secondary education and unemployment among young adults. By October 2020, 1,101 young adults had been enrolled in PTF, of which 751 had finished their training, 304 were in training, and 46 had dropped out. Furthermore, of those who completed the training, 254 (33.8%) had a successful placement in employment (Outcome 2), 141 participants (18.8%) had sustained their job for four months (Outcome 3), and 22 (2.9%) had maintained it for a year thus far (Outcome 4). With a Results-Based Financing arrangement of the PTF SIB, the upfront investment is not pre-determined but subject to training delivery costs. At the same time, repayments are capped at ARS 48,400,000, approximately USD 1,265,028. This case study discusses how the PTF SIB was developed, borrowing the SIB idea from other contexts and analyses its achievements and challenges.