Goldman Sachs to invest $10m in jail programme
on 03/08/2012 08:51:31
It is the first US effort of its kind to enlist private investors in financing public social programmes.
Social impact bonds, or pay-for-success contracts, began in Britain and are in the works in some US state governments. But New York City is the first in the nation to put one together, officials and experts say.
Inmates aged 16 to 18 will receive education, training and counselling intended to reduce the likelihood of them reoffending after their release.