The Indian delegation was led by Union Finance Minister Smt. Nirmala Sitharaman. Shri Chaudhary joined global leaders at a high-level panel titled “Accelerating SDG Impact through Outcomes-Based Financing”, co-hosted by the OECD and Outcomes Finance Alliance. The session spotlighted India’s leadership in linking development financing with real-world results, particularly in the domains of skills, livelihoods, and women’s empowerment.

The high-level panel an witnessed the participated of senior leaders and ministers from across the globe, including representatives from the Governments of Colombia, Kenya, South Africa, Norway, Turkey, Canada, Sierra Leone, and the United Kingdom, along with leadership from key multilateral agencies such as the World Bank and the United Nations Population Fund. The session was moderated by senior officials from the OECD, the Swiss Agency for Development and Cooperation, and the UBS Optimus Foundation. Shri Jayant Chaudhary represented India in the panel alongside a distinguished panel of public and private sector stakeholders, who collectively brought forth diverse perspectives on how outcome-based financing can serve as a catalytic tool to accelerate progress across the Sustainable Development Goals (SDGs).

On the sidelines of FfD4, Shri Chaudhary engaged in a series of impactful bilateral discussions with key global stakeholders. In a meeting with Ms. Mary-Beth Goodman, Deputy Secretary-General of the OECD, the two explored how India’s outcomes financing initiatives could benefit from OECD’s deep expertise in data systems and impact measurement frameworks. A productive dialogue with Ms. Kate Hampton, CEO of CIFF, focused on advancing gender-responsive skilling through outcome-based models like the $14.4 million Skill Impact Bond and the importance of employer engagement and data integration.

He also held strategic conversations with Mr. Richard Hawkes, CEO of the British Asian Trust, and Mr. Tom Hall, CEO of UBS Optimus Foundation, on unlocking private capital to drive large-scale impact in employment and entrepreneurship. Further, in his meeting with State Secretary Patricia Danzi, Director-General of the Swiss Agency for Development and Cooperation, Shri Chaudhary discussed collaborative opportunities for designing gender-focused outcome-based finance models to promote nano entrepreneurship and women-led development. The discussion also acknowledged the job creation potential embedded within the India-Switzerland TEPA Agreement.

Echoing Finance Minister Smt. Nirmala Sitharaman’s keynote at FfD4, which underscored outcome-based funding as central to unlocking sustainable, impactful growth, Shri Chaudhary reiterated that India stands ready to partner with global stakeholders in taking these models to scale.

Outcome-Based Financing (OBF) is emerging as a powerful tool to ensure that public investment translates into real, measurable outcomes — especially in critical areas like skilling, employment, and women’s empowerment. By institutionalizing OBF, India is not only enhancing transparency and accountability in its development financing but also creating a replicable model for the world. With strong partnerships, robust data systems, and a shared commitment to results, India is positioning itself as a global leader in leveraging innovative finance for inclusive and sustainable growth.

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A key feature of the Skill Impact Bond is its strong gender-responsive approach. With 74% of trainees being women from low-income backgrounds, many with limited education and no prior work experience, the program has successfully engaged and retained these women in the workforce. Strategies such as family engagement, workplace familiarization, mobility support, and post-placement assistance have been instrumental in achieving these outcomes.

During his address, Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development & Entrepreneurship said, “When thoughtful minds collaborate together, we don’t just invest; we build communities. We create pathways to better livelihoods, stronger families, and a more resilient nation. The Skill Impact Bond exemplifies this vision, having already trained nearly 29,000 first-time job seekers from low-income families across 24 states and union territories. It reflects true social responsibility by shifting focus from short-term inputs to long-lasting impact. With SIB 2.0, we aim to raise the bar, aligning with the Hon’ble Prime Minister’s vision of a future-ready, inclusive workforce that will propel India towards global leadership.”

While addressing the gathering, Shri Ved Mani Tiwari, COO (Officiating CEO), NSDC & MD, NSDC International said, “Skill Impact Bond has reached 29,000 lives across 24 states and 18 sectors with a 57% retention rate, aiming for 60%. Moving forward, the focus is on Employability, Employment, Income Enhancement, and Entrepreneurship. By leveraging digitalization and AI-driven innovations in healthcare, education, and beyond, SIB aligns with India’s $35 trillion economic vision for 2047, building a future-ready workforce and fuelling a more inclusive start-up ecosystem.”

Alongside National Skill Development Corporation (NSDC), the Skill Impact Bond’s coalition of partners comprises the British Asian Trust, Michael & Susan Dell Foundation, Children’s Investment Fund Foundation (CIFF), JSW Foundation, HSBC India, Dubai Cares, United States Agency for International Development (USAID), UK Government’s Foreign, Commonwealth and Development Office (FCDO), Dalberg Advisors, and Oxford Policy Management. The skill training is delivered on-ground by Learnet Skills Limited, Magic Bus India Foundation, and PanIIT Alumni Reach For India Foundation, all selected for their capacity to innovate, scale, and reach diverse target groups.

Bharath Visweswariah, Executive Director – India, British Asian Trust during his address said, “The Skill Impact Bond’s latest results affirm the power of an instrument like an impact bond to transform the way skilling is approached and financed in India. With each cohort the number of young people and women securing employment is increasing, with 7 out of every 10 women trained through the Skill Impact Bond now successfully securing jobs. Our independent evaluator is rigorously testing all the data and the data here is clear – linking funding to outcomes is having an incredible impact.”

Independent verification of the program reveals that 70% of enrolled women and 81% of enrolled men have secured jobs following their training. Job retention has also shown promising outcomes, with 56% of women and 62% of men retaining their jobs for at least three months. Furthermore, among those placed in jobs, 40% of women and 66% of men continued working for six out of twelve months. Notably, job retention rates for women have improved significantly, increasing from 48% in the first cohort to 61% by the third cohort.

With a budget of USD 14.4 million, the Skill Impact Bond is designed to achieve measurable outcomes linked to job placement and retention. This innovative financial model ensures accountability and effective use of resources aimed at enhancing employment opportunities for youth, particularly women.

As the program continues to scale its operations and mainstream its principles, it remains committed to transforming India’s skilling ecosystem through a focus on tangible outcomes and innovative practices.

The focus on employment outcomes has influenced all aspects of programme design and delivery, resulting in the promising results the Skill Impact Bond is now seeing. The coalition’s prioritisation of tight performance management, incentive alignment between all stakeholders, engagement with employers to ensure fit-for-purpose training, and tech-enabled, data-driven decision-making ensures the impact bond is constantly optimising and innovating to meet its goals.

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