Glossary
This glossary has been developed to establish a shared conceptual foundation for all stakeholders operating in the fields of impact investing and the impact economy.
Impact investing, impact measurement and management, outcomes-based financing, and related concepts—which are increasingly used across finance, public policy, entrepreneurship, and social impact—are explained with reference to international frameworks while taking the Turkish context into account.
The aim is to create a consistent terminology across disciplines, reduce conceptual ambiguity encountered in practice, and support the wider adoption of impact-oriented approaches.
EYDK Dictionary
There are currently 6 names in this directory beginning with the letter O.
O
OECD (Organisation for Economic Co-operation and Development)
An international organisation that works to build better policies for better lives by developing evidence-based international standards and supporting governments and stakeholders in addressing social, economic, and environmental challenges through data, analysis, and the sharing of best practices.
Outcome Fund
An Outcome Fund is a financing structure that pools resources from one or more funders in order to make payments for pre-defined and agreed outcomes. Outcome funds enable the implementation of multiple impact bonds or outcomes-based contracts under a single framework. Payments from an outcome fund are made only when the criteria agreed ex ante by the funders are met. In this way, payments are directly linked to the successful achievement of outcomes, rather than to activities or inputs.
Outcome-Based Financing
Outcomes-Based Financing is a funding approach in which payments are linked to independently verified outcomes rather than activities delivered. In most structures, financial risk is borne primarily by investors until outcomes are achieved, although in some models service providers may also carry performance or financial risk. Outcome payers only disburse funds once pre-agreed results are successfully delivered.
Outcomes
Outcomes refer to the measurable changes that occur in stakeholders’ behaviors, conditions, skills, capacities or living circumstances as a result of an intervention, program or investment, beyond the direct outputs of activities. Outcomes may be positive or negative, intended or unintended, and reflect the actual level of change experienced by stakeholders as a result of an activity.
Outcomes-Based Contract
An Outcome-Based Contract is a contractual arrangement in which payment or funding is contingent upon the achievement of predefined, measurable outcomes. The focus is not on activities or outputs delivered, but on verified results and impact. Outcome-based contracts are commonly used in Pay for Success mechanisms and impact bond structures.
Outputs
The direct products, services or measurable deliverables generated as a result of a project, programme or intervention. Outputs represent the immediate and tangible results of activities but do not on their own indicate the ultimate social or environmental impact. They are usually quantitative (e.g. number of people trained, number of programmes delivered).