The Government of Cambodia aims to eliminate open defecation by 2025, five years ahead of the SDG target. In November 2019, the first social impact bond for the sector was issued: nearly US$10 million to move 1,600 villages in six provinces to open defecation-free status by 2023, improving health in rural communities – especially for children. The Stone Family Foundation provides the upfront investment (taking all the risk), with USAID providing up to $10 million in outcome funding to the Stone Family Foundation only where results are achieved. iDE is the implementing NGO, receiving the funding from the Stone Family Foundation. The impact bond has been facilitated with the guidance of Social Finance, who issued the first-ever social impact bond in 2009.
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