UNDER the Ministry of Cooperatives and Rural Development, the Department of Rural Development of Kyain Seikkyi Township, Kayin State, disbursed the seventh round of the Village Revolving Fund Project (VRFP) loans at the village monastery hall yesterday. The initiative aims to provide capital for local communities from Khalaiywalay Village, to engage in agriculture, livestock breeding, and other small-scale business ventures.
U Min Wai Phyo, Head of the Kyain Seikkyi District Department of Rural Development explained the objectives and benefits of the Village Revolving Fund Project. Township Head U Saw Hein Min detailed the rules to be followed during loan disbursement, interest rates, and the schedule for principal and interest repayments.
Subsequently, under the supervision of the project staff, members of the village project committee systematically disbursed a total of K50.5 million in low-interest revolving fund loans directly into the hands of 76 project members: 30 individuals engaged in agriculture, 37 in livestock breeding, and nine in trading.
According to the Kyain Seikkyi Township Department of Rural Development, implementing the VRFP in this village has enabled rural residents to undertake income-generating activities on a manageable scale, thereby improving their socioeconomic lives and reducing poverty rates. — Ko Ko Soe (Rural)