Elton John AIDS Foundation is piloting the world’s first Social Impact Bond (SIB) designed to tackle HIV in London.
It offers an innovative approach to social and financial returns. The aim is to dramatically reduce HIV transmission in South East London by bringing additional investment to fund the commissioning of new evidence based interventions to address local health needs.
The new collaboration involves the creation of a Social Investment Partnership (based on the SIB model) which is supported by a National Lottery grant from the Big Lottery Fund. The partnership brings together all local stakeholders in the London Boroughs of Lambeth, Southwark and Lewisham involved in the commissioning of the HIV care pathway (Local Authorities, CCGs, NHS England and Public Health England).
The partnership will work with HIV service providers including Voluntary and Community Sector Organisations in identifying ways of utilizing additional resources to commission innovative interventions to increase HIV testing in high risk groups as well as improving access to HIV treatment and retention in care that are specifically targeted to the needs of the local population.
The project will be initially funded by private investors such EJAF, other foundations, and impact investing funds. The financial return will be linked to the achievement of two outcomes: diagnosing new cases of HIV and re-engaging patients who dropped out of HIV care.
Sir Elton John said: ‘" The UK has one of the best systems to treat people living with HIV in the world. We need to build on this and some excellent local HIV services to increase HIV diagnosis and get the people who need it into care. I’m so proud that we are partnering with local government who have been on the frontlines of this disease for so long in the UK."
Anne Aslett, Executive Director of the Elton John AIDS Foundation commented: “In its history, the Elton John AIDS Foundation has supported every major HIV charity in the UK and every NHS treatment centre for HIV/AIDS in the UK. With the advent of new medical treatments, and with new insights into the barriers for people needing to test or receive treatment for HIV infection, we saw an opportunity to help make a dramatic impact on the UK’s HIV epidemic.”