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<p>The Life Chances Fund (LCF) is an £80m fund to help people in society who face
the most significant barriers to leading happy and productive lives. It provides top-up
contributions to locally commissioned Social impact Bonds (SIBs) that aim to tackle
complex social problems.</p><p> </p><p>All of the £80m Life Chances Fund has been
awarded in principle to local commissioners, including local authorities and clinical
commissioning groups. These commissioners are at various stages of designing and delivering
the projects. Approximately £6,435,350 has so far been spent, leaving £73,564,650.</p><p>
</p><p>£5m of the spend to date has been devolved directly to Greater Manchester Combined
Authority, with the remainder covering programme costs including the application process
and support with setting up projects.</p><p> </p><p>Payments for outcomes delivered
by the new services are scheduled to begin in early 2019 and continue for the next
six years.</p>
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