USAID support generates jobs and investments

Wednesday, 4 January 2012 00:33 - - {{hitsCtrl.values.hits}}

Support from the US Agency for International Development (USAID) project Connecting Regional Economies (CORE) has increased incomes for over 14,000 households in the Eastern Province, Anuradhapura District and Monaragala District through business training and the introduction of new farm technologies and crops.

On 16 December, USAID – the US Embassy’s development arm – hosted a seminar with the Ministry of Economic Development to review CORE as it nears completion. Beneficiaries shared their results with an audience that included Minister of Economic Development Basil Rajapaksa, community groups and relevant stakeholders.

Since 2008, CORE has partnered with private sector companies to train and place unemployed youth in jobs with long-term career potential. As a result, youths have gone on to work in tourism, information technology, boat building, manufacturing and other industries.

USAID/Sri Lanka Mission Director Jim Bednar observed: “We see a focus on mobilising the private sector as the main engine for growth, job creation, and income generation. At USAID, we look forward to continuing our work together to develop the Sri Lankan private sector and improve the competitiveness of Sri Lankan goods and services.”

CORE promoted an improved business climate through stakeholder dialogue, and helped attract Rs. 514 million in direct private sector investment to target areas, along with 660 million through other donors. In a period of just three years, CORE linked thousands of farmers to distant markets, thus providing new and more lucrative places to sell their goods.

CORE pioneered innovations such as farmer-owned and -operated cyber centres to strengthen access to Department of Agriculture services that provide up-to-date market information. This allows farmers to get the best prices for their products.

Monaragala farmer T.M. Anulawathie commented: “Assistance from the CORE project has resulted in a cyber centre being set up in our village. We now access new agriculture and livestock information via the krushilanka.lk web portal. It is a step forward for us to develop our village.”

In addition, to help break the farmer debt cycle, CORE worked with the Sri Lankan Government and the World Bank to introduce warehouse receipt financing, which lets farmers use harvests as loan collateral and empower them to decide to whom and when they sell.

The American people, through the US Agency for International Development, have provided development and humanitarian assistance in developing countries worldwide for nearly 50 years. Since 1956, the US Government has invested over $2 billion to benefit all the people of Sri Lanka.