FabAfriq Magazine

The Cameroon Cataract Performance Bond:First ever Development Impact Bond (DIB)

 

This month marks the launch of an exciting new investment opportunity on Homestrings.com, the award winning crowdfunding platform: The Cameroon Cataract Performance Bond (“CCPB”) which will be the first ever Development Impact Bond (DIB) funded via crowdfunding.
A DIB lets development programs raise upfront funding from private investors. These programs are sponsored by donors or host country governments. Private investors earn a return - paid by the sponsor - if the program achieves certain pre-agreed goals.

 

The CCPB is a DIB speared by the Fred Hollows Foundation. “The time has come for a Development Impact Bond in healthcare. We believe that cataract surgery is the perfect vehicle to pilot the mechanism,” said Lachlan McDonald, Senior Economist at the Fred Hollows Foundation. “We expect that the Cataract Bond will spur new investment deals of a similar nature and help us further spread the social enterprise cataract hospital model to new areas where it is needed.”

 

In mid-2013, the Fred Hollows Foundation saw an opportunity for DIBs to help the cataract social enterprise model to new areas. The foundation engaged D Capital as a thought partner to design a bond to raise start-up capital for the Magrabi-ICO Cameroon Eye Hospital (MICEH). The African Eye Foundation and Sight savers also joined into the opportunity to thus create the CCPB Coalition. The Coalition has also signed the Conrad N. Hilton Foundation as the main outcome funder for the deal.
The Cameroon Cataract Performance Bond is a $2.5 million pre-financed and conditional grant (pay for performance) contract to launch and operate MICEH, a hospital that will provide cataract surgeries in Cameroon through a financially sustainable social business model.
“We are excited to be at the forefront of global development, by offering the first Development Impact Bond raised on a platform like ours” says John Samuel, Homestrings’ Director of Products.
Make history by funding the first Development Impact Bond ever offered by a crowdfunding platform and bring sight back to thousands! Learn more about the Cameroon Cataract Performance Bond by visiting this page.

 

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