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Case library

Case 04 · Adolescent health, Kenya, 2020 to 2027

Two development impact bonds scaled adolescent health services across Kenya.

The deal
InstrumentDIB I then a larger DIB II
AmountUSD 6.6m then USD 10.1m
ImplementerIn Their Hands programme, Tiko platform
FundersCIFF and UK FCDO, then UNFPA, CIFF and Bridges Outcomes Partnerships
Investor returnAbout 2 percent, then up to 7 percent

225,000 girls served in the first bond

452,000 users and 592,000 services in the second

10 percent lower cost per visit

For you: a first bond that delivers leads to a second, larger one with new funders.