Program for Results-Oriented Socio-Economic Progress and Economic Resilience (PROSPER)
Aligned SDGs
- Program for Results-Oriented Socio-Economic Progress and Economic Resilience (PROSPER)
- General overview
- Intervention
- Location
- Last data update
- Spreadsheet of data
- Program for Results-Oriented Socio-Economic Progress and Economic Resilience (PROSPER)
- General overview
- Intervention
- Location
- Last data update
- Spreadsheet of data
General overview
Stage of development: Late stage
Policy sectors: Social protection
Delivery locations: Kenya
Country classification: Lower-middle-income
Intervention
Social or environmental challenge
For the first time in 25 years, extreme poverty is on the rise. Communities living in extreme poverty are still reeling from the unprecedented disruption of Covid-19, and are the most affected by rapid inflation. In Kenya, 17% of the population (9M people) live in extreme poverty. There is a growing SDG financing gap estimated at US$ 4.2 trillion per year (+70% compared to pre-Covid). Closing this gap necessitates mobilizing more resources and more effective use of those. The poverty graduation model is an excellent example of an evidence-based approach to ending poverty through micro-enterprise creation. However, results vary significantly across and within countries. Tying payment to results could address these limitations by both providing flexibility to adapt and accountability for results. But payment for results at scale has been limited.
Description of the intervention
This project aims to market and sell social impact generated through implementation of the evidence-backed Village Enterprise poverty graduation model on an emerging impact marketplace called the Common Good Marketplace (CGM). CGM is a global impact marketplace that exists to advance the SDGs and human flourishing by measuring, valuing, independently verifying and delivering social and environmental impact. The impact generated by Village Enterprise will be validated and marketed as "Verified Impact Assets" (VIAs). Upon successfully marketing and selling our first issuance of VIAs, Village Enterprise's leading impact investors for our first impact bond, such as Delta Fund and Bridges Outcome Partnerships, are ready to provide the working capital needed to further scale Village Enterprise programming, the social impact of which would also be validated and marketed on the Common Good Marketplace.
Location
Country:
- Kenya
Locality:
- Kenya
Last data update
Data for this pipeline project was last updated in March 2024
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Spreadsheet of data
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