Por Cliff Prior.
For fiscally constrained governments pursuing the short-term objective of ensuring a fairer and faster recovery from the crisis and the medium-term aspiration of building more sustainable economies, promoting stronger associations with the private sector will be crucial to scale much needed interventions in areas including health, education and job creation.
But to foster the recovery, the public sector will not only need to invest more, but to invest better, rejecting traditional low-scale and ineffective input-based spending.[…]
Performance-based contracts, outcomes funds, career impact bonds and other results-based finance (RBF) tools, can help national and local governments draw private investors into economic projects to maximize the delivery of social results. There are growing numbers of examples that show how this can help labour market development efforts, creating quality jobs for young people and other groups who were already disadvantaged before the crisis.[…]
Despite the growing evidence supporting the merit of results-based finance solutions (including from the more than 200 social and development impact bonds launched worldwide), they remain far from mainstream. Overcoming some of the main barriers for adoption, such as the limited willingness of many funders to commission on a results basis, will be critical to reach a much-needed scale. For instance, the need for senior champions in governments and donor organizations that can understand the challenge and push change down through organizations is increasingly clear. Data and tracking are essential to monitor and verify results, which may prove more challenging in emerging markets with imperfect data environments.[…]
Fuente: World Economic Forum