Decision on Establishment and Management of Village Development Funds (Xayaboury Province)
关于设立与管理村级发展基金的决定（沙耶武里省）
ຂໍ້ຕົກລົງ ວ່າດ້ວຍການສ້າງຕັ້ງ ແລະ ຄຸ້ມຄອງ ກອງທຶນພັດທະນາຂັ້ນບ້ານ (ແຂວງໄຊຍະບູລີ)
Summary
This decision stipulates principles and methods for the establishment, operation, revenue sources, interest rates, dividends, accounts, management committees at all levels and their duties, as well as rewards, penalties, and implementation of village development funds in Xayaboury Province, aiming to provide each village with sustainable savings and loan funds for poverty alleviation and village development.
Articles
Article 1
Purpose. This Decision stipulates the principles, methods, and measures for the establishment and management of village development funds, so that each village has a fund, enabling the people to conveniently access savings and loan services, for the implementation of poverty alleviation plans and village development plans, and to achieve efficient management, ensuring the fund's continuous growth and sustainable development.
Article 2
Objective: To bring the various existing development funds in each village, primarily including grant funds and support funds from domestic and foreign sources, under a single management committee and a single set of village-level development fund regulations, to operate strictly within the scope of the village-level development fund regulations, to implement sound management, and to make the fund expand, effective, and sustainable.
Article 3
Term Interpretation. 1. Village Development Fund: refers to a fund formed by voluntary and active participants (regardless of whether they are wealthy, middle-income, or poor, all may join) from each household within the village as members, who collectively contribute capital to purchase shares. It has a management committee and bylaws, and implements shareholding, savings, lending, and dividend distribution; fund members have the right to borrow from the fund for agriculture, handicrafts, processing, industry, or other services that promote production within the village, enabling each household in the village to live and work in peace and quickly escape poverty. 2. Savings: refers to depositing funds into the fund's deposit account each month. 3. Share Purchase or Share Contribution: refers to jointly investing capital into the fund during its operation period. 4. Deposit: refers to placing funds without interest, as well as placing funds to earn interest periodically. 5. Dividend Distribution: refers to distributing the profits (interest) obtained from lending to members to the members based on their accumulated savings deposit points within the dividend distribution period, which is 6 months or 1 year, during the fund's operation or functioning period. 6. Disaster: refers to harmful calamities caused by nature or human actions, such as: storms, hail, lightning strikes, floods, droughts, cold waves, land subsidence, earthquakes, fires, volcanic eruptions, pest infestations, epidemics, etc., which have occurred and caused damage to life, property, economy, and environment.
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