Deputy Director Myint Aung, the Information and Communications officer from the Ministry of Cooperatives, has told Mizzima that the Ministry will make loans of about 100,000 kyat (US$1,000) to rural families in villages across Myanmar.
Myint Aung said that the plan was to give personal loans to about 100 family units per village.
He said loans would only be issued to persons who are members of the cooperatives system, and were intended as an incentive to allow people such as farmers, who are constantly in debt, to repay their debts and stand on their own two feet.
He said that families who were able to settle their 100,000 kyat loans efficiently would qualify for the opportunity to apply for a 500,000 kyat loan in the future.
He confirmed that the money the Ministry of Cooperatives issues will be taken from foreign loans and aid from the international community.
