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Nagnobay Bank releases 700 million kip for Luang Namtha
The Nagnobay (policy) Bank has released 700 million kip of loans to promote agricultural production in Long District, Luang Namtha province this dry season."This amount of money has gone to six target villages of Sivilay, Phokham, Donesavang, Chomcheng, Louangphakham and That.
The loan is for eight-month term with an annual interest of 7 per cent," said last Thursday Head of the Nagnobay Bank's branch in Luang Namtha province, Mr. Sifong Keokongta.
On the same day the Poverty Reduction fund held a meeting to decide development projects in Long district for 2010-2011 period and the selection of possible companies to carry out the projects.
The projects to be financed by the Fund and local people include the provision of gravity-fed water supply technology to villages of Poungsay Mai, Pamarkkouay, Siengkok and Sa, the construction of community hall in Louangphokham village, reservoir construction in Sobma village, the power grid installation in Sivilay village, suspension bridge construction in Nongkham, animal farming infrastructure development in Houaythou Mai village, road construction in Namly village, gravity fed water system construction in Thongnor, Tamkoum and Chamai villages and the provision of gravity fed water technology to Phakham village.
kpl lao news agency
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