In this session, we will explore the findings of the third wave of the independent evaluation of the FCDO Development Impact Bonds (DIBs) Pilot Programme. We will be joined by leading experts from the Foreign Commonwealth Development Office (FCDO), Ecorys, University of Oxford and more.

Participants in the session will have the opportunity to:

- learn more about the evaluation of the FCDO DIBs Pilot Programme and the findings of the evaluation, particularly the effect of the DIB funding mechanism;

- hear from those directly involved in the programmes about their reflections on the impact, legacy, and lessons learned from delivering the programme through a DIB model; and

- explore with development experts and academics the wider implications of the evaluation findings and how the lessons can help inform future design and delivery of outcomes-focused programmes for development more broadly.

In 2017 the Foreign, Commonwealth and Development Office (FCDO) launched the Development Impact Bonds (DIBs) pilot programme. The DIBs pilot programme aimed to build the evidence base on the suitability of DIBs to improve the efficiency and effectiveness of development programmes in several sectors. FCDO allocated GBP 6.3 million for three projects: 1. Humanitarian Impact Bond for Physical Rehabilitation, 2. Village Enterprise (VE) and 3. Quality Education (QEI) DIB. Ecorys was commissioned to evaluate the programme, aiming to generate learning to inform FCDO’s future policy around DIBs. The third and final report summarises and captures final learnings and conclusions from the implementation stage.

The focus of the third wave evaluation was the DIBs funding mechanism. The evaluation was interested in understanding the ‘DIB effect’ – that is, the effect of using a DIB instead of a grant or other PbR mechanism.