Volunteers for Economic Growth Alliance (VEGA)
VEGA is the world's largest consortium of non-profit private sector groups and managerial and business development organizations. It was created in 2008 to promote an increase in international volunteerism among qualified Americans, and to enable organizations that utilize volunteers to more efficiently collaborate with the U.S. Agency for International Development in implementing their objectives.
VEGA leverages foreign assistance funding and fosters an appreciation of American volunteerism, and the contributions that it makes to a modern foreign assistance program. The strength of this consortium is the unique and proven ability of its memers to mobilize and deploy up to 40,000 volunteers, all of whom are industry experts and professionals, to supportВ the goals of USAID.
Specifically, VEGA will support the growth of sustainable business and service markets in emerging economies, lend technical and managerial assistance to small and medium-sized enterprises (SMEs), and build the strength of non-profits and other organizations that provide the texture and depth necessary to sustain mature market economies. The Iraq Private Sector Development Initiative, awarded to VEGA to promote a competitive and efficient private sector in Iraq, illustrates the commitment of this consortium to foster growth even, and perhaps especially, in post-conflict environments.
VEGA recognizes that SMEs are the "engines" driving economic growth around the world. To be successful, they must have access to industry-specific technical and managerial assistance, appropriate equipment and technology, access to markets and partners, financing, strong local business support organizations, and an enabling legal and regulatory framework.В Globally, VEGA will work with both USAID offices worldwide, as well as private and public sector partners to design and implement programs that can deliver the services needed to engender sustainable economic growth.