US Agency for Int. Development VEGA implements US $24 m livelihood program

Wednesday, 22 August 2012 01:53 - - {{hitsCtrl.values.hits}}

With the generous support of the American people through the US Agency for International

Development, Volunteers for Economic Growth Alliance (VEGA) is implementing the US $24 million VEGA/BIZ+ program in Sri Lanka. The program’s main focus is on expanding livelihood opportunities that can enhance economic productivity, boosting household incomes in former conflict areas and promoting long-term economic sustainability.

Over its four-year program, VEGA/BIZ+ will create an estimated 10,000 livelihood opportunities. These opportunities will provide an additional income of $30 million and help to support about 12,000 households. Land O’Lakes International Development is the lead VEGA partner implementing the program. The program will be implemented through three main components: Build the capacity and support business expansion of local enterprises by providing $14.4 million in grants to new and existing enterprises; Deliver targeted technical assistance to grant recipients and other institutions related to enterprise development to build stronger capacities in business management, finance and operations, as well as for specific sub-sector support in identified agriculture and non-agriculture areas and support and strengthen the enabling environment for local business associations and enterprises, by mobilising business and community leaders to discuss government policies in roundtable forums, facilitating development of recommended reforms through policy white papers and empowering local business communities to voice their needs to policymakers. Experts from VEGA Don and Luz Hawkins are in Sri Lanka from 10 to 17 August conducting consultative meetings with key individuals and groups with small and medium sized businesses working in the tourism sector, including those related sectors such as handicrafts. The Chamber of Tourism and Industry has facilitated to conduct these meetings in Trincomalee, Pasikudah, Ampara and Arugambay.

Chamber of Tourism and Industry President A.M. Jaufer said that the program will promote

Tourism Industry in the Eastern Province while creating more job opportunities. He thanked President Mahinda Rajapaksa and Minister of Economic Development Basil Rajapaksa for initiating tourism development in the East. He also thanked the US Government for providing assistance to develop the economy in the region.