Abu Dhabi to introduce social impact bond

Sunday, 17 November 2019 17:22

Abu Dhabi has announced plans to launch the region’s first social impact bond.

It will tap into private sector funds for implementing social programmes.

Under the scheme, investors’ returns will be based on the success of the social projects that they support.

The Authority for Social Contribution- Ma’an will launch the bond next year in partnership with different public and private entities.

The concept of social impact bonds was first introduced in the UK in 2010 and is now used by more than 40 countries worldwide.

More from Business

India reviewing allegations of antitrust breaches by IndiGo

India's competition regulator said on Thursday it was reviewing allegations of antitrust violations by budget airline IndiGo following recent flight disruptions that hit air travel nationwide.
DXB and DWC boost winter schedules with new routes

Dubai Airports has entered the winter travel season with one of its strongest networks in history, as Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC) welcome new airlines and expanded connectivity to meet rising seasonal travel demand.
Amazon in talks to invest in OpenAI

Amazon.com Inc is in discussions to invest in OpenAI, the developer of ChatGPT, in a potential deal that could value the artificial intelligence company at over $500 billion, a source familiar with the matter said on Tuesday.
DXB to welcome over 4.2 million guests over next two weeks

Dubai International Airport (DXB) is gearing up to accommodate a surge in travellers over the next two weeks, marking one of the busiest travel periods of the year.
UAE, India review strategic partnership during joint sessions in Abu Dhabi

The UAE and India have reviewed the progress of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries that aim to advance bilateral trade towards a shared goal of $100 billion.

UAE ministry urges remote work for private sector in weather-hit areas
The Ministry of Human Resources and Emiratisation (MoHRE) is urging private sector companies in areas most affected by the current weather to implement remote work on Friday, December 19.
UAE completes loading aid ship with 10 million meals for Gaza
The Mohammed Bin Rashid Humanitarian Ship has completed loading over 10 million meals at Khalifa Port in Abu Dhabi.
Dubai declares remote work for govt. staff, private sector urged to follow suit
Dubai has declared remote working for all government entities on Friday, December 19, due to the unstable weather forecast across the country, with the private sector urged to do the same.