DLA Piper advises KOIS on the launch of a new Development Impact Bond for refugees in the Middle East
DLA Piper has provided pro bono advice to KOIS, an impact investment and finance advisory firm, in relation to the first tranche of a Development Impact Bond (the DIB) for Syrian refugees in Jordan and Lebanon.
The DIB will fund a micro-enterprise creation programme delivered by the Near East Foundation to help refugees and vulnerable host communities. Over four years the first tranche will support 4,380 refugee and host population trainees and provide 3,400 business start-up grants in Jordan.
Debt financing is being provided by the US Development Finance Corporation and Ferd and outcomes-based funding is being provided by the IKEA Foundation, the Novo Nordisk Foundation and Norad.
The DLA Piper team was led by London-based Finance partner Mark Dwyer assisted by associate Patrick Lightbown. As well as providing general advice to KOIS in its role as coordinator of the DIB, the team was also involved in the drafting and review of a number of the key programme documents.