The ICRC has created the world’s first “Humanitarian Impact Bond” to help transform the way vital services for people with disabilities are financed in conflict-hit countries.
The capital raised – 26 million CHF – will be used to build and run three new physical rehabilitation centres in Africa (Nigeria, Mali and Democratic Republic of Congo) over a five year period, providing services for thousands of people. The payment-by-results programme also includes the necessary training for the new staff as well as the testing and implementation of new efficiency initiatives.
The innovative funding mechanism has been created to encourage social investment from the private sector, to support the ICRC’s health programmes. A rising number of conflicts as well as a growing annual budget of the ICRC are the driving forces for this innovative funding model.
Of the 90 million people with physical disabilities who need a mobility device worldwide, only 10%, on average, have access to adequate physical rehabilitation services, leading to both social and economic exclusion.
The ICRC is the world’s largest provider of physical rehabilitation services in developing and fragile countries. In 2016, the Physical Rehabilitation Programme operated 139 projects in 34 countries, helping almost 330,000 people with physiotherapy and mobility devices including wheelchairs, artificial limbs and braces.
You can read the full story on the ICRC’s website here.