Villages to get Ks 30 million each for poverty alleviation
Villages to get Ks 30 million each for poverty alleviation
Eleven Myanmar, 13 Oct 2014
URL: http://elevenmyanmar.com/index.php?option=com_content&view=article&id=7807:villages-to-get-ks-30-million-each-for-poverty-alleviation&catid=44:nationa
Union Minister for Livestock, Fisheries and Rural Development Ohn Myint made field trips to villages on October 10 in an attempt to provide cash assistance to villages.
Under the President’s cash-assistance scheme named “Emerald Project”, the government will provide Ks 30 million to each of 1,150 villages across the country as part of poverty alleviation.
“This project offers Ks 30 million per village. It aims to reduce the country’s poverty. Representatives from the villages will form a committee and then disburse loans to those who are in need. A total of Ks 34.5 billion will be spent on the project, covering 1,150 villages throughout the country,” said Tun Lwin, director at the Ministry of Livestock, Fisheries and Rural Development while meeting local people. “Loan disbursement is aimed at enabling those in need to carry out their livelihood and create more job opportunities. For instance, income-generating agricultural businesses can take loans for purchase of fertilizers. Other businesses like livestock and small-sized businesses can take loans as well. The interest rates will vary depending on the loans taken. The minimum interest rate is Ks 0.5 and the maximum interest rate is Ks 1.5. It will be fixed by the fund supervisory committee,” he added.
“Our team provides villages with loans under the President’s scheme,” said the Union minister.
During his tour of the villages, the Union minister donated Ks 5 million each for extension of new wards of monastic schools in Twantay, Kawhmu and Kwanchangone townships in Yangon Region. The Union minister also met with local people and provided necessary assistance.
Under the President’s cash-assistance scheme named “Emerald Project”, the government will provide Ks 30 million to each of 1,150 villages across the country as part of poverty alleviation.
“This project offers Ks 30 million per village. It aims to reduce the country’s poverty. Representatives from the villages will form a committee and then disburse loans to those who are in need. A total of Ks 34.5 billion will be spent on the project, covering 1,150 villages throughout the country,” said Tun Lwin, director at the Ministry of Livestock, Fisheries and Rural Development while meeting local people. “Loan disbursement is aimed at enabling those in need to carry out their livelihood and create more job opportunities. For instance, income-generating agricultural businesses can take loans for purchase of fertilizers. Other businesses like livestock and small-sized businesses can take loans as well. The interest rates will vary depending on the loans taken. The minimum interest rate is Ks 0.5 and the maximum interest rate is Ks 1.5. It will be fixed by the fund supervisory committee,” he added.
“Our team provides villages with loans under the President’s scheme,” said the Union minister.
During his tour of the villages, the Union minister donated Ks 5 million each for extension of new wards of monastic schools in Twantay, Kawhmu and Kwanchangone townships in Yangon Region. The Union minister also met with local people and provided necessary assistance.