VRFP project funds disbursed in Kanma

THE disbursement of funds under the Eighth Village Revolving Fund Project (VRFP) was held yesterday in Zeedaw Vil­lage, Kanma Township, Magway Region, by the Department of Rural Development of Kan­ma Township under the Ministry of Cooperatives and Rural Development, aiming at enabling rural people to undertake busi­nesses that can increase their family income.

Staff Officer U Min Ko Naing of the Department of Rural Development of Kanma Township met village elders, male and female members and ex­plained the objectives and benefits of implementing the Village Revolving Fund Project (VRFP), the rules and regulations stated in the project manual, inter­est rates and repayment periods, and the rules to be followed when provid­ing loans. He transferred K34 million in project funds to the Project Work­ing Group members.

The Project Working Group members provid­ed loans to 38 farmers engaged in agricultural activities in Zeedaw Vil­lage, K27.55 million, and to 15 people engaged in live­stock breeding activities, K6.45 million. In total, 53 male and female members were provided with loans amounting to K34 million. — Set Lu (DRD)