For the first time ever, a social influence link (SIB) was opened to crowdfunding to help reduce the loneliness of elderly people in Tel Aviv, the Israeli Social Fund (SFI) announced last week.
Social impact bonds are partnerships that aim to improve social services for specific groups. While these bonds are typically funded by large investors, SFI, in collaboration with the Tel Aviv Foundation, decided to open this investment to crowdfunding through the Fundit platform.
The investment, titled “New Era,” is expected to impact 200 seniors in Tel Aviv over 2.5 years with a total investment volume of NIS 2.3 million, with NIS 1.6 million being raised before the crowdfunding is completed. launched.
The investment aims to reduce the loneliness of hundreds of older people in the city, improve their quality of life and help them reconnect with their community. The program includes house calls with social workers and volunteers, a mental behavior treatment program, group activities and help with using technology to get quality content, call friends and connect with com other participants in the program.
“I am excited to allow everyone to invest in a social impact link to reduce the loneliness of older people and, as such, address not only a difficult problem that has arisen. recent size but also, return on investment according to the success of the project, “Saron Neudorfor, founder and CEO of SFI, said in a press release.” Influence investments around the world are growing as we are seeing a new generation of investors who want more of a return; they want their investments to be meaningful to their values. “
“For the past 4 decades the Tel Aviv Foundation has been working to create solutions to the current budget challenges,” said Dr. Hila Oren, Head of the Tel Aviv Foundation. “Covid-19 has presented and strengthened new challenges – among others, the theme of older people’s loneliness. As an entity leading innovative urban thinking and activity, we are pleased to partner with SFI and create innovative financial tools that will enhance the city and its wider residents and the elderly and survivors of the Holocaust. [which will be our primary focus] in particular. 21st century urban challenges need 21st century financial solutions. “
cnxps.cmd.push (function () {cnxps ({playerId: ’36af7c51-0caf-4741-9824-2c941fc6c17b’}). render (‘4c4d856e0e6f4e3d808bbc1715e132f6’);});
There are about 1.1 million such elderly people in Israel, making up about 12% of the population.
A study by social media and development advocate Eshel of the Joint Dissemination Committee (JDC) in December found that a coronavirus crisis has had a major impact on the health, emotional state and economic status of the elderly in Israel.
Nearly half of respondents (47%) said they had a bad state of mind, including loneliness, depression and even feelings “in the current situation, life makes no sense.” This indicates an increase of more than 7% compared to the last study conducted by Eshel during the first wave of the virus.