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 16 names in this directory beginning with the letter P.
P
Participatory Loans
Participatory Loans are financing structures in which repayment is linked to revenue or profit performance rather than fixed interest terms, allowing flexible repayment and shared risk between lenders and borrowers, often used for early-stage or impact-driven initiatives.
Patient Capital
Patient Capital refers to long-term, impact-oriented investment capital that does not require immediate financial returns and supports sustainable value creation.
Pay for Success
Pay for Success a financing approach in which payments are made only when predefined, measurable outcomes are independently verified. Instead of funding activities, the model incentivizes the achievement of real, demonstrable impact and is a core component of results-based financing mechanisms such as social and development impact bonds. The term is primarily used in the United States to describe impact bonds or social impact bond–type arrangements. In the United Kingdom and other contexts, similar approaches are more commonly referred to as outcomes-based contracting, social outcomes contracts or payment-by-results.
Place-Based Impact Investing
Place-Based Impact Investing refers to a geographically targeted investment approach that aims to enhance social well-being, strengthen local economies and reduce inequalities within a specific city, region or community. Rather than focusing solely on sectoral priorities, this approach aligns investment strategies with local needs, inclusive development objectives and regional transformation goals.
Portfolio
A Portfolio is a collection of diversified investments held by an individual or institution, increasingly managed with both financial and impact performance considerations.
Portfolio Manager
A Portfolio Manager (or Fund Manager) is a professional responsible for managing investment portfolios, setting strategies and making investment decisions on behalf of clients or funds.
Pre-Acceleration Programme
A Pre-Acceleration Programme refers to support programmes designed for early-stage ventures to help them clarify their business models, strengthen their organisational and operational capacities, and increase their level of investment readiness prior to entering a full-scale accelerator programme. These programmes typically provide mentoring, business development support and access to networks.
Pre-investment Stage
The Pre-Investment Stage refers to the phase before an investment decision is made, involving preparation, assessment, analysis and structuring processes. It includes identifying opportunities, evaluating risks and potential returns, conducting financial and impact assessments and designing the terms and structure of the investment.
Private Equity
Private Equity refers to long-term capital investments made in privately held companies, often involving active ownership to support growth, restructuring or strategic transformation.
Private Investments
Private Investments are investments made outside public markets, typically involving privately negotiated transactions with limited investor participation, including private equity, venture capital, private debt and alternative investment structures.
Pro-bono Contribution
Pro-bono Contribution refers to the provision of professional services, expertise or time—normally offered on a paid basis—delivered free of charge to support social good initiatives. Unlike general volunteering, pro-bono contributions are based on specific professional skills and are typically provided in areas such as legal, financial, strategic, technical or managerial support.
Pro-bono Expert
A Pro-bono Expert is a professional who offers specialized expertise without financial compensation to support impact-focused initiatives.
Proxy
An indirect measure of an outcome that is correlated to that outcome. It may be used when direct measures of the outcome are unavailable or unfeasible to collect.
Public Funds and Grant Schemes
Public Funds and Grant Schemes are financial instruments provided by public authorities to support inclusive and equitable transitions, particularly where market mechanisms alone are insufficient. They typically offer non-repayable or concessional financing to fund employment support, reskilling programmes, regional development initiatives and social protection measures linked to structural economic and climate transitions.
Public-Private Partnerships (PPP)
Public–Private Partnerships (PPP) are collaborative arrangements between public authorities and private sector entities to finance, develop and manage public services, infrastructure or social initiatives, typically under long-term contractual frameworks. In the impact space, PPPs help enable innovative financing, scalable delivery models and stronger social and environmental outcomes.