“Australia-first” social impact bond to address youth unemployment

A first-of-its-kind initiative has been launched to address youth unemployment in regional NSW and in Sydney.

Not-for-profit SYC has partnered with Social Ventures Australia (SVA) and the New South Wales government to launch Australia’s first Social Impact Bond (SIB) addressing youth unemployment.

The Sticking Together Project (STP) has secured a $10m social impact investment from the NSW Government to support the almost 900 young people living in New South Wales who face barriers to work.

This investment represents the first time in Australia that a social impact investment has focused on youth unemployment. Previous projects have addressed other social issues including homelessness, mental health and children in out-of-home care.

To view the full Third Sector article, click here.

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