ABN AMRO : backs new social impact bond issuer

Social Finance NL is a startup issuing social impact bonds on the Dutch financial market, thereby providing access to finance for social entrepreneurs. ABN AMRO and charity Oranjefonds are involved as founding partners.

What inspired the establishment of Social Finance NL was the belief of its founders that Dutch local authorities can address problems more effectively by rewarding results instead of efforts. Social Finance NL is a new organisation that puts local authorities looking to address social ills in touch with social entrepreneurs and social investors. It supports these parties with relatively new financing tools such as social impact bonds.

Ruben Koekoek, one of Social Finance NL's founders, has years of experience creating social impact bonds at ABN AMRO. ABN AMRO launched the Netherlands' first social impact bond in 2013, and is now involved as a founding partner of Social Finance NL. Richard Kooloos, ABN AMRO's Head of Sustainable Banking explains: 'I'm proud of the way the public and private sectors are working together here to improve the way we address social ills. ABN AMRO issued the first social impact bond in the Netherlands, and as a founding partner of Social Finance NL, we are eager to do our share to scale up this approach.'

See also the press release by Social Finance NL (in Dutch only).