Big draw for Budget 2013’s poverty reduction via CSR projects

There has been a big response from the private sector and civil society to the Budget 2013 proposal of endeavouring to eliminate poverty via Corporate Social Responsibility (CSR) projects.

According to the Finance Ministry, the National Council for Economic Development (NCED) has received over 90 proposals so far and officials said given the fact that only two months have elapsed in the New Year, the response has been highly encouraging.

Of the proposals received there had been over 40 from the private sector including top blue chips, majority foreign-owned Lankan firms, and SMEs. See Page 3 for the list of proposals received. The NCED is expecting proposals from more companies.

The Budget 2013 presented by President and Finance Minister Mahinda Rajapaksa in November sought expressions of interest for CSR proposals to make Sri Lanka a poverty-free country by 2016 under a Private-Public Partnership. The Ministry of Economic Development will assist such projects by interfacing with line ministries, provincial councils, local authorities, district and divisional and village level officials to successfully carry out poverty-alleviation projects under the 2013 Budget proposal.

Projects include sponsoring child and maternity care centres, health clinics, water, hosing and sanitary facilities, support pre-schools and primary schools, provide vocational skills programs, provide transport and market access, and jobs for low income families in each village.