Emerald Green Project’s revolving fund spurs progress with 4,400 development initiatives in 3,500+ villages

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The picture depicts two workers engaged in fisheries under the fund of the Emerald Green Project in Rakhine State.  photo: xinhua

The interest received by the revolving fund of the Emerald Green Project has covered 4,400 rural development works in over 3,500 villages so far.
Fifty per cent of the interest contributes to the community development projects in villages, including 2,422 road and bridge projects, 224 water supply projects, 29 water purifier installation projects, 1,043 power projects, 146 school maintenance projects, 12 libraries, eight clinics, 246 halls and 299 other development works across 3,500 villages.
The interest from the revolving fund amounted to K33.96 billion and public contribution was estimated at K15.73 billion, totalling K49.695 billion.
The Emerald Green project aims to finance vulnerable rural communities and create jobs, enhance the livelihood of the rural communities, and increase family incomes. The capital of K30 million is allocated per village as a revolving fund among 11,643 villages. The interest is disbursed to the villagers and the project is committed to increasing development works year over year.
The project commenced in the 2014-2015 financial year, supporting the livelihood of 1.37 million households across over 14,900 villages so far. — TWA/EM

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