The Andrews Labor Government has joined forces with Sacred Heart Mission to develop a new approach to tackle chronic homelessness and support vulnerable Victorians.
Minister for Housing Martin Foley today launched Victoria’s first Social Impact Bond – enabling investors to fund new social issues programs and enhance existing services.
The Labor Government and Sacred Heart Mission have signed an Implementation Agreement allowing for an expansion of the Journey to Social Inclusion (J2SI) program.
The J2SI program has seen participants maintain long-term, stable accommodation and reduce their interactions with health services.
The expanded program will be rolled out over three years, commencing in August 2018.
Sacred Heart Mission will speak to investors over the next few months about providing guarantees for the bond, which will see investments in rapid access to housing and long-term intensive case management for 180 Victorians sleeping rough.
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