Lankapage Logo CP 21 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* US launches Rs. 3.6 bn project to support Sri Lanka’s small businesses and increase labor force participation of women
Thu, Dec 10, 2020, 08:58 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 10, Colombo: The United States launched a new LKR 3.6 billion (USD 19.5 million) initiative to help small businesses and economically empower Sri Lankan women.

The Private Sector Development Project, which is funded through the U.S. Agency for International Development (USAID), will provide technical assistance and financing to small businesses in the tourism, technology, and commercial care industries, the U.S. Embassy said in a statement Thursday.

It will also help Sri Lanka weather the economic impact of COVID-19 by providing much- needed financial assistance through which businesses will be able to expand job opportunities for women and increase profits thanks to better business practices. Strengthening resilience in the face of the pandemic is a key step toward a post-COVID economic recovery.

“This project demonstrates the United States’ long-term commitment to engage the private sector in development cooperation that shape market-driven solutions to achieve sustained impacts,” said U.S. Ambassador to Sri Lanka Alaina B. Teplitz. “Most importantly, this timely assistance will also mitigate the economic effects of COVID-19 in Sri Lanka,” she said.

The initiative will promote innovation and entrepreneurship and provide incentives for Sri Lankan financial institutions to support under-served communities in rural areas throughout the country. Finally, it will encourage businesses to hire more women. Studies show that when women are economically empowered, they reinvest back into their families and communities, which drives economic growth.

For more information on the COVID-19 funding opportunity, please visit https://thepalladiumgroup.com/tender/Funding-Opportunity-Notice-Innovative-Concepts-for- COVID-19-Economic-Relief-and-Adaptation-in-Sri-Lanka

 

ColomboPage - Recent 10 Stories ::
John Keells Foundation collaborates with ChildFund in the post-pandemic development of social and emotional skills of youth of Colombo 02
-- [19 minutes ago]
State banks requested to provide maximum relief to entrepreneurs to pay loans
US Ambassador Cindy McCain’s visit to Sri Lanka highlights work on food security by FAO, IFAD and WFP
Police arrest three with a stock of Kerala Cannabis worth Rs. 50 million in Mannar
Sri Lanka’s merchandise export earnings exceeds US$ 1.2 billion in August 2022
Japan is willing to further strengthen the bilateral relations with Sri Lanka
Sri Lanka to amend laws to raise age of a child from 16 to 18 years
The SLFP will not join the National Assembly - Chairman
SLPP suspends party membership of PS member arrested for Thambuttegama heist
As economy shrinks more working people pushed below poverty line – Eran

Copyright © 2000, 2020 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.