A report has been published by Social Finance highlighting the success of the first year of the Peterborough Social Impact Bond and The One Service.  The project is the first of its kind adopting a new approach of using private capital to get a return on investment for a social outcome.  The One Service works with male prisoners leaving Peterborough Prison and St Giles Trust is part of a multi-agency partnership delivering practical support to men leaving prison.

To date, the One Service has worked with over 500 individuals.  The project’s unique funding mechanism for the service allows for flexibility and innovation. Whilst it is too early to say for sure what impact on re-offending the service has had, early indications are positive.  

Our Chief Executive Rob Owen commented: “Our first year with the One Service has been a positive and valuable experience for St Giles Trust and the clients helped by the service. We were newcomers in Peterborough and have learned a great deal, especially around the importance of gaining local knowledge to get a proper insight into the kind of challenges and issues facing our clients. All the different organisations involved in this partnership have put in an immense amount of work to ensure it got off to such a good start.”

The full report is available at www.socialfinance.org.uk