US partners with local businesses under Biz+

The United States Agency for International Development (USAID), the development arm of the US Embassy, awarded the first grant under its Biz+ program recently.

This US $ 275,000 grant will help Jeyantha's Katcovalam Ice Factory expand its ice production from six to 26 tons per day, meeting growing demand from fishermen and traders who transport fresh fish to Colombo and elsewhere.

The Biz+ program supports local businesses, increasing economic growth and job creation in recovering areas. The program provides grants along with technical and managerial assistance to small and medium-sized businesses.

Jeyantha has invested about US $360,000 on the ice factory.

Speaking at the signing ceremony, Thirunavukkarasu Senthan, CEO of the Jeyantha Industrial Park in Point Pedro, Jaffna said: "We will continue to increase activities and create new jobs as an ongoing process. Ice, cold room facilities and a fisheries harbour are basic requirements for the success of multi-day fishing. The common thread is creating jobs while providing a service to the immediate community."

The grant will fund the purchase and installation of environmentally-friendly refrigeration units at a new central facility, and will support localized cooling and ice distribution centers.

Biz+ will also provide technical assistance to improve the design of the company's operations, to help cut costs of wasted cold water.

"USAID's latest initiative, Biz+, will open up jobs after decades of conflict.

This grant will augment incomes of fishermen and fish traders by meeting the demand for ice in the region and benefit others along the value chain, such as transporters," said USAID Mission Director Jim Bednar.

"This is the ultimate aim of Biz+: to help improve living standards of vulnerable populations and stimulate the region's economic growth".

The grant was signed by USAID's visiting Senior Deputy Assistant Administrator for the Asia Bureau, Denise Rollins.