- About FSVC
- What We Do
- Where We Work
- Our Impact
The Volunteers for Economic Growth Alliance (VEGA) is a 501 (c)(3) nonprofit, founded in 2004 through a Leader with Associate cooperative agreement,as a vehicle to allow USAID Economic Growth Officers to reach out to organizations providing technical experts in private, public and NGO sector development. VEGA is the world’s largest consortium of economic growth volunteer organizations that collectively have assisted 140 developing and transitional countries by sending out more than 25,000 experts/advisers to help promote economic growth activities over the last 40 years. VEGA has a credible track record of delivering economic development programs with sustainable solutions throughout the developing world. Since its inception in 2004, USAID funding of $4 million for VEGA has resulted in global programs worth more than $140 million.
Financial Service Volunteer Corps is member of VEGA, which runs a LWA agreement with USAID. LWA Awards are cooperative agreements or grants that USAID Missions or regional bureaus develop with the “leader." The leader is the lead organization that successfully competed for the Leader with Associate agreement and is primarily responsible for implementation of the project under the agreement. Since the leader has already secured the grant or cooperative agreement via a competitive process, USAID missions can create their own agreements with the leader without going through a competitive (or sole source justification) process. Moreover, the USAID mission has full control over the development and management of the Associate Award. As a member of VEGA, USAID can negotiate an Associate Award with FSVC through the VEGA mechanism.
The VEGA LWA Advantage:
· The VEGA LWA has been extended until 2014.
· There is no award ceiling.
· Programs awarded under the VEGA LWA can continue for 5 years beyond the 2014 LWA end-date.
· The VEGA LWA requires an internal competition among the member organizations, a unique asset compared to other LWA mechanisms.