Social Projects Support Fund together with State Development Corporation VEB.RF and Agency for Strategic Initiatives (ASI) conducted training in applying the SIB mechanism.
The event held on the Boiling Point — Arbat design and discussion platform was attended by more than 100 people, including representatives and heads of regional governments, businesses and non-profit organisations, as well as project leaders.
The participants were informed about the launched SIB projects, major approaches to their structuring, implementation and monitoring, and the evaluation of social effects. All participants received skills improvement certificates.
“SIB project implementation enables us to test new, sometimes even unique instruments for solving specific problems in the regions. SIB training provided to project leaders, representatives of regional governments and businesses makes it possible not only to increase the number of such projects, but also enhance their efficiency,” said Director for Department of Educational and Financial Support for Social Entrepreneurs of Social Projects Support Fund Aleksandra Denisova.
SIBs are financial instruments implying multilateral contracts in the social sphere between the government, investors and service providers. Project funding is provided by investors. Subsidies are allocated from the regional budgets on a pay-for-success basis.
At present, three SIB projects out of 10 launched in Russia are completed. These include a project to improve the quality of education for schoolchildren in Yakutia and projects in the social and healthcare sectors designed to provide targeted assistance to residents of remote and northern parts of the Primorie Territory.
“The social outcomes of all projects have exceeded the targets, and some SIBs are scalable in the regions. We intend to further launch promising social impact projects. In each case, VEB.RF as the project operator helps the participants at all stages of project implementation, from project selection together with ASI to independent project assessment,” said Director of Government Agent Office of VEB.RF Denis Bokov.
He also noted that the SIB mechanism was becoming increasingly popular. More than 10 Russian regions express considerable interest in SIBs.
“Agency for Strategic Initiatives identifies projects eligible for implementation under the SIB mechanism, including both practices placed on the Smarteka platform and leadership projects supported by ASI. Together with VEB.RF, we are ready to form a team at each request from regions, which will be capable of performing the tasks set and achieving the social outcomes projected,” said Director of ASI Centre for Best Practices and Expertise Denis Smolkov.
Furthermore, the training programme included pitching of projects implementable under the SIB mechanism, such as projects for early detection of cancer and rehabilitation of patients applying the AI technology.
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