Be the Change You Want to See
According to the World Health Organization (WHO), regular participation in play, recreation and sport has a profound impact on youth’s overall growth and development and is instrumental in instilling lasting healthy habits. Evidence suggests that youth who engage in active lifestyles are less likely to develop a number of health conditions as adults, including heart disease, cancer, Type 2 diabetes, high blood pressure, osteoporosis and obesity.
Similarly, youth inactivity is a critical development challenge in Georgia today. While the entire country is pressed to confront this issue, the situation is particularly acute outside the capital. Therefore, facilitating dialogue regarding the importance of physical activity among youth and enhancing children’s access to physical outlets are essential.
UNDP Georgia, in partnership with the Rustavi Mayor’s Office and Public Service Development Agency (PSDA) decided to tackle youth (13-18) physical inactivity in Rustavi.
To achieve just mentioned goal, UNDP Georgia decided to use the Social Impact Bond (SIB), — which is designed to unite public, private and voluntary sectors to solve prevailing challenges by employing an outcome-based delivery model. The SIB, as a multi-stakeholder mechanism, includes numerous parties such as commissioners, investors, outcome payers, service providers and beneficiaries. The idea is to engage private capital in funding social/environmental/development projects with a possibility for a financial return. The public-sector institutions agree that if the bond succeeds in achieving the agreed outcomes, the investors will get their capital back and a possible financial return.