Friday, 03 December 2021 08:08 GMT

MA'AN'S WIDER STRATEGY OF SOCIAL IMPACT BONDS EXPLORED BY LEADING INTERNATIONAL EXPERT ON GLOBAL PLATFORMS


(MENAFN- Mid-East.Info) Abu Dhabi: The role and wider strategy of the Authority of Social Contribution – Ma'an in solving vital social challenges in Abu Dhabi through Social Impact Bonds (SIBs) has been examined in the third part of a blog series published by the UK's Government Outcomes Lab – (GO Lab).

The article – 'Embedding an outcomes approach – Building capacity within a specific ecosystem' is the latest of the Abu Dhabi Social Outcomes Contracting Blog Series, which is written by social contracting expert Dr. Chih Hoong Sin, Chair of Traverse.

In his comprehensive piece, Dr Chih analyses Abu Dhabi's wider strategy for embedding outcomes and how Ma'an, a Government entity and the Department of Community Development – Abu Dhabi (DCD) is aspiring to conduct business and achieve positive social impact.

He highlights the importance of building strong and meaningful partnerships with a wide range of organisations and Ma'an's efforts to enhance the understanding and raise awareness of SIBs and Social Impact Contracting. He urges the use of other mechanisms to encourage social impact across Abu Dhabi as well as listening to feedback to help improve future programmes.

Dr Chih also pointed out that the international community has a lot to learn from the experience and innovation of Ma'an and Abu Dhabi. The strategic focus, the cross-sector partnership, and a clear vision on scaling up impact are key lessons that Abu Dhabi can share with the rest of the world.

In its role, Ma'an supervises social impact bonds and supports the contractual arrangements between government departments in Abu Dhabi, social service providers and social investors. It also monitors and measures performance.

Last year, Ma'an launched the GCC's first SIB project – ATMAH, a vocational training programme which aims to secure employment for young People of Determination. It is in collaboration with the Department of Community Development, Aldar Properties, Aldar Education and Zayed Higher Organisation for People of Determination.

The blog article will be featured on the GO Lab's blog online platform and its weekly newsletter which will be distributed to professionals, policy-makers and practitioners in the public, social and private sectors around the world.

This high-level distribution internationally strengthens Ma'an and Abu Dhabi's position as leaders in implementing and addressing methods of financing and delivering solutions for the social challenges in Abu Dhabi.

Her Excellency Salama Al Ameemi, Director General of Ma'an, said:“We are pleased to see details of our social impact bond programmes being shared on global platforms, allowing the Emirate of Abu Dhabi the opportunity to share an example of its knowledge and experience.  We are grateful for the vision of international experts, whose wealth of knowledge and tremendous experience in this field translate into engaging content for global audiences. The blogs are evidence of the pioneering regional leadership played by the Authority in the field of social contracting, and we are delighted to showcase our experience and knowledge to the international community”

“His article is further evidence of the outstanding work that we are doing by driving social innovation across Abu Dhabi and it is integral we continue to build on the foundations so that we can help enrich residents' lives and make our communities more inclusive and connected.

“Social Impact Bonds can be a real game-changer and we strongly believe that it can play a pivotal role in addressing social priorities in the Emirate of Abu Dhabi, and help the city to flourish for many years to come.”

About Ma'an :

Ma'an was established in February 2019 under the Department of Community Development in Abu Dhabi with the aim of bringing together the government, the private sector and civil society to support a culture of social contribution and participation. The authority will deliver solutions for social challenges with five main pillars of work – a Social Investment Fund, a Social Incubator Programme, Community Engagement Programmes and the introduction of a new type of public contracting, Social Impact Bonds, as well as Outreach Management.

Ma'an will support the third sector to flourish in Abu Dhabi, enabling responsible not for profit associations or foundations and social enterprises to contribute to the development of strong, active and connected communities.

Ma'an Authority for Social Contribution is an initiative under the Ghadan 21 accelerator programme, supporting Abu Dhabi to become one of the best places in the world to do business, invest, live, work and visit.

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