India’s National Skill Development Corporation (NSDC), in collaboration with other partners, has introduced the Skill Impact Bond, a first-of-its-kind development impact bond in the country. The four-year initiative is aimed at addressing the gap between skill training programs and employment, especially for women, by offering an outcomes-based approach to job placement and retention. So far, over 18,000 young Indians from 18 states and Union Territories have enrolled in the program, which is delivered by partners selected based on their capacity to innovate, scale, and reach diverse target groups. The impact bond is designed to incentivize all parties by focusing on job certification, placement and retention, incentivizing all involved partners towards a shared goal.
India’s First Impact Bond for Employment Outcomes: NSDC Leads Financial Innovation
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