HM Government have issued a progress report on the growth of the social investment market so far. The report states that there are 13 Social Impact Bonds (SIBs) on-going in 2013 and that Big Society Capital has invested a total of £56 million.
Manchester is mentioned in the report as an example of a SIB. The Manchester Multi-Dimensional Treatment Foster Care – Adolescent SIB is designed to take children out of care. The potential savings made by Manchester City Council form the basis for investment by an external agency. The full details are likely to be released soon.