Democratising outcomes-based financing
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Summary
India set out on its outcomes-based finance (OBF) journey in 2015 with the Educate Girls Development Impact Bond. Since then, at least USD 59 million[1] has been mobilised through various OBF initiatives across sectors such as health, education, employment, and livelihoods.[2] OBF is broadly defined as a flexible set of financing mechanisms and organisational strategies that link payments to the achievement of pre-defined and verified outcomes. All OBF mechanisms are defined around three princip