ImpactAlpha, May 10 – The U.K. government awarded the money to projects that provide education and training to young people searching for jobs. It is the second round of disbursements from the 80 million pound Life Chances Fund, launched in 2016 to use pay-for-success contracts. Investors are reimbursed if the local-government programs meet agreed-upon goals.
- Second round… The U.K. government is providing 28 million pounds to 10 projects. Local authorities will contribute a combined 83 million pounds.
- Transforming social services… The biggest recipient was Sheffield City Council, which will take in 19.2 million pounds to improve public service delivery.
The Life Chances Fund targets drug and alcohol dependency, children’s services, early years, young people, services for the elderly and healthy lives. Click here for a full list of the projects.