Link Legal represented and advised JSW Foundation in participating as a member of the Skill India Impact Bond, a first of its kind and India's largest impact bond, launched by the National Skill Development Corporation (NSDC).

The SIIB will support 50,000 young people in India over four years, 60 percent of whom will be women and girls and provide them with skills and training and access to wage-employment in Covid-19 recovery sectors including retail, apparel, healthcare and logistics. The coalition has brought together a US$14.4 million fund to benefit 50,000 young people in India over four years. The other funding members of the SIIB includes, British Asian Trust, the Michael & Susan Dell Foundation, the Children's Investment Fund Foundation, HSBC India and Dubai Cares, with FCDO (UK Government) & USAID as technical partners.

Our scope included review of the term sheet and framework agreement executed by and amongst the funding member and technical members, for setting up of the SIIB. Our client, JSW Foundation has participated in the SIIB as one of the funding members.

Link Legal team comprised of:

  1. Nusrat Hassan, Co-Managing Partner;
  2. Ambuj Sonal, Associate Partner;
  3. Tanvi Pande, Senior Associate; and
  4. Meghna Punjabi; Associate

Other funding members and technical partners were advised by Nishith Desai Associates (NDA), which acted as the legal partner for SIIB.

The launch of the SIIB has also been reported on the following media platforms:

https://nsdcindia.org/sib

https://timesofindia.indiatimes.com/business/india-business/nsdc-launches-skill-impact-bond/articleshow/87310548.cms

https://www.business-standard.com/article/markets/india-s-first-skill-impact-bond-launched-fund-to-benefit-50-000-youth-121102600967_1.html

https://economictimes.indiatimes.com/news/company/corporate-trends/nsdc-partners-with-global-partners-to-launch-skill-impact-bond/articleshow/87282266.cms?from=mdr