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Rice bank for rice shortage time
We, for several times, hear people saying that those women in those villages establish village funds and pooled with millions of kips for loaning in their communities. But few may realise the existence of rice bank in Huana village, Saythany district, Vientiane Capital and many villages are yet to establish rice banks.
The unique significance of this kind of rice bank is its capability of helping its members when they face hard time or when rice prices rocket. Furthermore it, indirectly, provides other benefits to its members.
President of the Huana Village Women�s Union Champa Khamphansengmany said that rice bank in Ban Houana was established in 1976 with only 10 members and in 1982 the membership of the bank doubled to 22.
In initial stage, each member was required to deposit 6 kg or paddy rice with the bank and the combined rice amount was 132 kg. But that amount was not enough for the demand of the members.
As a result, they decided to take the rice to make alcohol for sale and raised pigs. But this didn�t work. In 1985, they decided to stop alcohol production and pigs raising but they used 600,000 kip they had accumulated to buy 1.2 tonne of rice. But this amount still failed to meet demand. They then decided to cut bamboo to sale. They managed to earn 300,000 kip from selling bamboo and they used that sum to buy additional 480 kg of rice. At that time, rice provision by the bank met demand of its members but the bank didn�t charge any interest for rice loaning to its members and this resulted in the gradual reduction in rice amount in the bank.
In 1988, the bank decided to charge 30 per cent as interest for rice loaning to each member. This kind of practice has been observed until today and resulted in a gradual increase of rice deposited in the bank.
The current membership of the Houana Village Rice Bank is 143 and its rice deposit is 18 tonnes. Additionally, the bank has another amount of 2 million kip as a collective deposit.
The expansion of rice bank which now it can ensure adequate provision of rice for its members when they face rice shortage or rice price is high has contributed to bettering the living condition of people in the village and their poverty reduction. In addition, its success in rice bank management has brought in the fame to the village and many villages are interested in the establishing and managing rice bank of Houana villagers.
kpl lao news agency
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