Myaseinyaung project to implement in 41 villages of Sagaing region

Myaseinyaung project will be implemented in 41 villages of Sagaing region in this financial year of 2020-2021. So far, implementation in two villages out of 41 has been completed, according to the Sagaing Region Rural Development Department.
“This FY, Myaseinyaung project will be carried out in 41 villages from nine districts of Sagaing region. The implementation in the two villages has been completed since the start of January, 2021. These 41 villages were targeted to complete within this year,” says U Win Kyaw Myo, the head of the department.
“The Myaseinyaung village project provides K 30 million for each village unit of the project. It is not a loan but a revolving fund. The authorities formed a management committee and provided a training course to manage those funds. Then, the villagers will be disbursed the loans initially. The committee will decide how much to provide for agriculture, livestock, manufacturing and other sectors. The interest rate will be between 0.5 and 1.5 per cent. However, the interest is set up 0.5 per cent in a year of COVID-19 stricken period. The training course will also enable the committee to decide on the interest period as to whether to repay in three or six months,” he added.
The project will be carried out in 41 villages of Sagaing region including one village each in Kalay, Khin-U, Yinmabin and Htigyaing townships, two each in Indaw, Kawlin, Tabayin, Wetlet, Taze and Kanbalu townships, three each in Sagaing, Monywa, Budalin, Ayadaw, Pale, Shwebo and Ye-U townships and four villages in Homalin township.—Lu Lay