Governments have an opportunity to partner with impact investors and philanthropists to turn emergency spending into long-term impact.
Vulnerable people have been the first to suffer from the pandemic, and they will be the last to recover. But in this moment of crisis, we can lay the foundation for a more equitable future. Pay for success offers unique opportunities to increase public accountability, while unleashing the entrepreneurialism of the social sector. Governments, service providers, philanthropists, and impact investors can harness the principles of PFS to steer this unprecedented emergency spending toward catalyzing enduring improvements in the lives of society’s least well off.
The new coronavirus pandemic and the resulting government response have already revealed several areas in which pay for success (PFS) principles can turn emergency measures into sustainable social programs to achieve lasting outcomes. To do this, however, calls for unprecedented commitments and collaboration by all of the actors in the PFS ecosystem.
- Ex: housing the homelessness
- Ex: expand online training
Replies
There is deep opportunity for preventative action and informed response that leaders in the U.S and around the world can develop to create more equitable systems of day to day care and emergency response.
We must learn from this crisis. How will we change the status quo?