Could Social Impact Bonds Fight Slavery?
Social Impact Bonds as an effective way to tackle the age-old problem of bonded labour in India.
By Dallin Van Leuven, 20th April, 2015
To pay off a family debt of only $50, 13-year-old Roghini was “mortgaged” to a family that made matchboxes in their home. Paid only 30 cents for every 1,500 boxes she made, Roghini worked alongside 20 other children for 11 hours a day just to try and earn enough to eat—though she often went hungry. The abusive treatment she received drove Roghini into such a deep depression that she tried to end her own life. Finally, three years after she was sold into slavery, a local group was able to pay off the debt and free her.
Millions of men, women, and children are working in India under similar conditions. India’s justice system has tried to free them for decades, to no avail. New strategies are needed where politicians and judges have failed. It is time for investors to step up. Continue reading