THE Department of Rural Development held a ceremony to disburse revolving funds under the Mya Sein Yaung Village Project in Pyinkadoechaung Village, Kangyidaunt Township, yesterday. The funds were provided with the aim of increasing household incomes of rural residents in Maedwaychaung, Yaykyaw and Pyinkadoechaung Villages, enabling them to expand small-scale agriculture and livestock breeding activities, and implementing village development work with the revolving project funds.
Kangyidaunt Township Department of Rural Development Head Daw Thinzar Nyunt explained the project and the objectives of disbursing the revolving funds. Project staff then explained the interest rate, repayment period, and the rules and regulations to be followed in receiving loans. Afterwards, the revolving fund amounting to K63.7 million was handed over to members of the Mya Sein Yaung Village Project committees from the three villages.
The committee members disbursed K63.7 million of the revolving fund at low interest rates directly to 106 project members. Of the total amount, K53.7 million was provided to 76 members engaged in agricultural activities and K10 million to 30 members engaged in livestock breeding in Maedwaychaung, Yaykyaw and Pyinkadoechaung Villages.
Cho Than Nyunt (Rural)
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