USAID awards grant to Private Sector Development Initiative (01/08/04)

In support of the reconstruction efforts in Iraq, the US Agency for International Development (USAID) has announced the award of a multi-million dollar grant to the Volunteers for Economic Growth Alliance (VEGA) to implement the Iraq Private Sector Development Initiative. The grant award provides funding up to $12.3 million over the next 15 months.

The initiative is part of the US government's reconstruction assistance to the Iraqi people

The VEGA Iraq Private Sector Development Initiative will establish new business centres and work through existing centres throughout the country to provide training and technical assistance to businesses of all sizes.

VEGA will leverage access to over 20,000 volunteer advisors and experts covering all industrial and business sectors to provide Iraqi businesses with exposure to successful business methods. Services will include training courses, business kits and technical assistance to businesses. Additionally, assistance will be provided to firms to compete for procurements under supplemental funds.

Businesses who successfully complete the requisite training courses will be eligible to receive small grants to follow-through on implementing changes and pursuing opportunities suggested in training activities.

The VEGA Iraq Private Sector Development Initiative is part of the US government's reconstruction assistance to the Iraqi people aimed at improving stability, ensuring the delivery of essential services, and facilitating economic recovery.

Source: USAID