$14,500 pooled savings in 4 months

Village Mobilizers of the Project formed savings groups in April and by the end of the month of July, there were now 83 groups with a combined membership of 807 individuals. The groups were also able to mobilize 14,501,000. Kyats ($14,000.) or an average of 17,969. Kyats per member.

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Myo Myo Htun, PF National Technical Consultant, assisting leaders of savings groups during registration

The leaders shared details about their savings groups during the consolidation session held last July 24, 2015 at the Aung San Conference Center at Hlaing-bwe Township. It was attended by 120 leaders who braved the rainy day to attend the first meeting of all savings group from the 34 villages taking part in the Project.

IMG_20150724_112005Participants to the IGCT  session

Participation of the leaders were generated by asking them to write in cards and posting them in the walls of the conference center. Some of the leaders struggled in writing in cards but were excited to see information about how other groups are doing in their savings mobilization. For some leaders this is the first time for them to attend session using participatory process.

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Leaders of savings group preparing information of their groups for posting

Savings groups with the highest amount of savings were also recognized. The top five savings groups included the following:

Village                               Savings group                        Total savings
A Htet Yae Pu                  San Thit Aung                              800,000.MMK
Ma Ae                                Pan Khin Lan                               500,000. MMK
Kwat Myat Gyi                 Ywar Thar Aye                             480,000. MMK
Tar Baung Kone              Shwe Lin Yaung                           420,000. MMK
Win Sein                           Yie Man Chat Pang Taing          400,000.MMK

 

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Gallery walk: reviewing the performance of other groups

The leaders of the savings groups were also informed of the project component on the modeling of enterprises. Selected agricultural products and non-agri activities will be pilot tested in the villages to determine the feasibility of the enterprises. This will enable the cooperative to narrow-down the economic activities it will finance once it starts its lending operation.

????????????????Saw Hein Htet Win, PF National Technical Consultant discussing the problems identified in managing savings groups.

Savings group formation: June updates

IMG_2285As of June 30, 58 savings groups were organized with total 545 members out of more than a thousand participants to the financial literacy sessions conducted in various villages. The two teams of CDA were gaining momentum as they familiarized in conducting Rapid Savings Mobilization Technique (RSMT). Based on the current rate of organizing, there is now a critical mass of members to start with the second phase of institutional development.

On July 24, the first consolidation session will be held at Hlaing-bwe Township. The session will facilitate meeting and getting-to-know of leaders from various savings groups. This will also be the opportunity when the leaders share their experiences in managing savings groups and in working with a bigger group.

Motorcycles turned-over to the Kayin Cooperative Office

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Jay Supetran, PF Program Manager turning over the documents to U Htay Myint Aung, head of Kayin State Cooperative Office; U Myint Aye, head of Union of Cooperative Syndicates (UCS); U Hein Sis Kyaw, Hlaing-bwe Cooperative Office 

PlaNet Finance turned over last June 30, five (5) motorcycles to various partners in the Project: two units to the Kayin State Cooperative Office, two units to the Hlaing-Bwe Township Cooperative Office, and one unit to the Union of Cooperative Syndicates (UCS). The motorcycles will be used by the field staff of the partners in monitoring field activities conducted by the Project.

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U Htay Myint Aung, head of Kayin State Cooperative expressed gratitude to the material support and appreciation to the initial results of the Project in the villages. A planning workshop will be held on the second week of July to coordinate the activities of the Project field staff and the monitoring by the Kayin Cooperative Office. It will also include discussions on the reporting requirements to be submitted to the Kayin State government and the head office of the Ministry of Cooperatives.