A newly launched initiative seeks to improve math performance of Bedouin high school students in Israel.
The goal of the program, to be presented to the United Nations on Wednesday, is to raise the number of students matriculating in higher levels of math in the Bedouin town of Rahat from the current level of only 15%.
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The program was launched by Social Finance Israel (SFI), a nonprofit firm established by Ronald Cohen and Yaron Neudorfer and cooperates with the government and business sector to create mechanisms for positive social impact. It has raised 45 million shekels ($12.7 million) in social impact bonds, also known as pay-for-success projects.
SFI raised 14.8 million shekels from seven investors. The Education Ministry will pay back investors depending on the level of success.
Though still small, Israel's impact investment market more than doubled in two years to over $260 million in 2018.
