The European Investment Fund (EIF) will participate in a Social Impact Bond focusing on the reintegration in the labour market of incapacitated military personnel of the Dutch Army. Over 1.500 former military personnel foreseen to be enrolled in the programme.
The EIF’s participation is supported under the Investment Plan for Europe (EFSI), better known as the Juncker Plan.
During a ceremony at the national military museum of The Netherlands, the European Investment Fund (EIF) has signed a EUR 10 million commitment in the Social Impact Bond “Joining Forces” (the “SIB”). The goal of the SIB is to help secure employment, financial stability, and improve mental health and overall wellbeing of incapacitated military personnel of the Dutch Army, by giving them on-the-job-training and coaching to reintegrate them back into civilian life.
Commissioned by the Ministry of Defence, and managed by IncluSIF, the SIB will now attain a size of EUR 16.7 million, which would allow it to support over 1.500 participants to the scheme. The EIF’s participation is supported by the European Fund for Strategic Investments under the Juncker Plan.
“Our goal is to find suitable jobs for our colleagues, either within or outside the armed forces. The important thing is that we accompany our people through a difficult period the best way we can. We commit to that because that is what a good employer should do. Especially an employer like the Defence Ministry. Our armed forces are built on the boundless dedication of its people, both to each other and towards the organisation. That is a great good, and we have to handle it with care and responsibility.” stated Barbara Visser, Dutch Secretary of State for Defence.
Laurina Nieukerke, managing director and Founder of IncluSIF said: We’re determined to help improve sustainable employment for military personnel into civilian life. We believe strongly in this multi-stakeholder approach, as well in this public-private partnership. We believe this is the way to drive social innovation. We keep on creating opportunities to make a difference in people’s lives, where investments can generate financial returns through helping meet pressing social challenges.
First Vice-President of the European Commission Frans Timmermans said: “I warmly welcome this valuable agreement, which will provide much-needed support to incapacitated military personnel as they seek to re-enter the civilian workforce after having served their country. This project is a powerful demonstration of how the European Investment Fund can support social programmes in the EU.”