THE Department of Rural Development held a ceremony to disburse revolving funds under the Mya Sein Yaung Village Project in Bahtan Village, Monghsat Township, yesterday. The funds were provided with the aim of helping rural residents in Bahtan and Loihsawng villages increase household incomes through the expansion of systematic agricultural and livestock-breeding activities, and implementing village development projects using the growing revolving fund.
Monghsat District Department of Rural Development Head U Sai Aung Myo Htet first explained that the Mya Sein Yaung Village Project funds were being disbursed with the objectives of helping rural residents in Bahtan and Loihsawng villages increase household incomes through the expansion of systematic agricultural and livestock-breeding activities, and implementing village development projects using the growing revolving fund. Project staff then explained the project, the interest rate, loan terms and conditions, and regulations to be followed in the disbursement of project funds. Afterwards, the revolving fund amounting to K32.5 million was handed over to members of the village-level Mya Sein Yaung Village Project committees.
The committee members disbursed K32.5 million of the revolving fund at low interest rates directly to 34 project members under the disbursement process. Of the total amount, K19.3 million was provided to 23 members engaged in livestock breeding, and K13.2 million to 11 members engaged in trading.
Maung Khaing (Rural)
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