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This is an archived USAID document retained on this web site as a matter of public record.

USAID Awards Iraq Private Sector Development Initiative Grant

WASHINGTON, DC 20523
PRESS OFFICE
http://www.usaid.gov/
Press: (202) 712-4320
Public Information: (202) 712-4810

2004-068

FOR IMMEDIATE RELEASE
July 26, 2004

Contact: USAID Press Office

WASHINGTON, DC - In support of the reconstruction efforts in Iraq, the U.S. Agency for International Development (USAID) announces 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 VEGA Iraq Private Sector Development Initiative will establish new business centers and work through existing centers 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 U.S. government reconstruction assistance to the Iraqi people aimed at improving stability, ensuring the delivery of essential services, and facilitating economic recovery.

For more information on USAID's humanitarian relief and reconstruction efforts in Iraq please visit www.usaid.gov/iraq VEGA is an alliance of sixteen economic growth volunteer organizations. More information on VEGA can be found at www.vegaalliance.us.

The U.S. Agency for International Development has provided economic and humanitarian assistance worldwide for more than 40 years.

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