By www.mknewslink.com reporter
The U.S. Mission to Uganda has announced it‘s support to three organizations working in Uganda whose innovative ideas promise to improve the lives of thousands of Ugandans.
The United States Agency for International Development (USAID) awarded $1.25 million to Instiglio, in partnership with Village Enterprise, for a program designed to help lift participating Ugandan and Kenyan households out of extreme poverty.
According to a press release signed by Dorothy Nanyonga from the USA Embassy in Kampala, Instiglio is implementing the program as a development impact bond, in which funders (including USAID, the UK Department for International Development, and others) pay a predetermined rate for verified outcomes.
The development impact bond is the first such bond in the world centered on economic development. Learn more about this work in this recent article.
Source:www.mknewslink.com a western Uganda news website.