First lot of village fund injected to boost local economy

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The government's 35 billion baht village fund was officially launched yesterday under the scheme of the government to boost local economy.

The launch ceremony was presided over by Prime Minster General Prayut Chan-o-cha at a technical workshop themed “Strengthening the economic foundation in compliance with the Civil State Policy”.

About 12,000 village fund members also took oath to ensure transparency and accountability in spending the village funds during the ceremony.

Under the scheme, initially 35 billion baht soft loan will be extended through the Government Saving Bank and the Bank for Agriculture and Agricultural Co-operatives to villages to help boost the village-level economy.

The government will inject a total of 60 billion baht to 79,000 villages throughout the country.

Each village will receive a 500,000 baht fund.

In the launch ceremony, Gen Prayut stressed that public budget must not be invested on any particular sector and budget disbursement must be transparent and accountable so as to enable simultaneous development of all sectors together.

It is the principle of civil state, he said.

He compared the civil state policy to a man’s five fingers, saying that each of the fingers has its own function and is indispensable.

Government administration needs to concern the majority of the people because the people are part of the government, he said.

He said further that in the early stage of the scheme, villagers will receive advices while their projects will be examined.

In future, there will be decentralisation and they will have full authority over the money, he said.