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Review of how the world’s first Development Impact Bond in education surpasses both target outcomes. The Development Impact Bond (DIB) provided operational and financial flexibility for Indian NGO Educate Girls (EG). It achieved 116% of the enrollment target and 160% of the learning target in its final year. The program ran in the Bijoliya, Mandalgarh and Jahajpur blocks in the Indian state of Rajasthan. The social investor UBS Optimus Foundation (UBSOF) provided the upfront working capital of USD 270,000. As a result of the over-achievement, UBSOF recouped its initial funding (USD 270,000) plus a 15% internal rate of return, which equals USD 144,085, from the outcome payer CIFF.q