Mongnai disburses K46M under MSY Project

THE Department of Ru­ral Development, under the Ministry of Coopera­tives and Rural Develop­ment, held a ceremony to disburse the revolving fund under the Mya Sein Yaung Village Project in Loilin Village, Mongnai Township, yesterday.

 

Mongnai Township Department of Rural Development Head U Maung Khaing first ex­plained the objectives of the project and the purpose of providing the revolving funds. Project staff then briefed partic­ipants on interest rates, loan repayment periods, and regulations govern­ing the loan programme. Afterwards, the revolving funds amounting to K46 million was handed over to members of the Mya Sein Yaung Village Pro­ject committee.

 

The committee mem­bers, under the supervi­sion of the department, disbursed K46 million of the revolving funds at low interest rates directly to project members. Of the total amount, K46 million was provided directly to 42 project members in Loilin Village engaged in agriculture, livestock, and trading activities, all of whom are operating and expanding their in­come-generating activi­ties with support from the project funds. —Maung Khaing (Rural)