OREANDA-NEWS. NAB today announced it will help finance the third social impact investment issued by the NSW Government – a program to help deliver Australia’s first social benefit transaction aimed at reducing reoffending by parolees and their subsequent re-incarceration.

The goal of the program, called On TRACC (Transition Reintegration and Community Connection Service), is to reduce the cost of incarceration and increase community safety, by reducing rates of re-offending among parolees.  The service is designed to enhance current levels of support by providing intensive, individual support to parolees, particularly in their first 16 weeks of parole.

The program will be jointly delivered by Australian Community Support Organisation (ACSO), arbias and the NSW government and will be jointly financed by ACSO and NAB.

James Waddell, NAB Director Capital Financing Solutions, said the program takes a new approach to addressing persistent challenges in the justice system through a unique partnership between Government, not for profit and corporate sectors.

“The intended outcome is to reduce the cost to society and government by reducing the number of inmates in the prison system and ensure that parolees are given the best chance of being reintegrated into society.

“NAB’s role in financing this program demonstrates our commitment to providing innovative financing solutions that will deliver better societal outcomes for all Australians,” he said.