The funding will be used to develop a social impact bond (SIB) to deliver additional support to schools which have high numbers of pupils not achieving grade C (or above) GCSEs, or which hold a grade 3 (requires improvement) or grade 4 (inadequate) rating from Ofsted. The grant will fund outcomes payment mechanisms and market validation, co-commissioner engagement, a rates score card and other technical support. The SIB will be commissioned by Knowsley Council.
