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Social impact bonds to fund intensive therapy in Essex

Essex County Council has rubberstamped plans to use social impact bonds to fund intensive work with families and young people on the edge of care or custody.

The council had previously said it was considering taking out loans to fund the expansion of its multi-systemic therapy teams who work with children and families.

But in an announcement today (7 February), the authority revealed it is planning to attract private investment through the use of social impact bonds – where investors only receive a financial return on their investment if the programme hits its target

The council has already completed the feasibility stage of the programme working with Social Finance Ltd, which showed that social impact bonds could be used to provide intensive treatment to adolescents on the edge of care.

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