The Programme for Private Sector Development (PPSD) established in 1995 provides short-term training programmes for the development of the private sector, particularly the development of small and medium enterprises (SMEs). The focus of the PPSD is on capacity building of officials who are responsible for industrial development, SMEs development and entrepreneurship development. By building up their capacity, it will enable them to become the vital catalyst in their countries’ development agenda, particularly to alleviate poverty and promote sustainable economic growth. The Programme`s scope covers technology transfer, business management and sharing of best practices, trade liberalization, World Trade Organization and trade issues and industrialization policy.
Currently, PPSD collaborates with Member Governments and their Centres of Excellence to implement the programmes. The training courses of the Colombo Plan are voluntarily fully or partially funded on a cost sharing basis by donors among its member countries as well as international organizations. Since its inception in 1995, Korea is the main donor for PPSD programmes. Among partner agencies which support PPSD training programmes are Korea International Cooperation Agency (KOICA), Malaysia Technical Cooperation Programme (MTCP), the Indian Millennium Fund, Asian Productivity Organization (APO) and Singapore Development Cooperation Programme.
From 1995 to August 2009, 1,272 officials from Colombo Plan member countries have benefited from the PPSD training programmes in the areas of trade liberalization, SMEs policy, SMEs development and World Trade Organization. In 2008, PPSD implemented its first training programmes, training programmes on Enterpreneurship Development using the Blue Ocean Strategy in Colombo, Sri Lanka. This is considered a new approach taken by the PPSD on implementing the training programme.