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V.A. tests a social-impact bond aimed at post-traumatic stress

ImpactAlpha, October 3 – The U.S. Department of Veterans Affairs and agencies in Massachusetts and New York are launching a three-year pay-for-success project to help veterans suffering post-traumatic stress disorder.

Local VA medical centers will provide individual placement and support to 480 U.S. veterans to improve their employability. Social Finance developed the Veterans CARE project, which attracted $5.1 million in investment from BNP Paribas, Northern Trust, The Dakota Foundation, Deutsche Bank and Robin Hood Foundation.

The VA and the federal Social Innovation Fund will provide $3 million, matched by the local governments, to repay investors if the project meets its targets.

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