VILLAGE DEVELOPMENT BANK PROJECT
Village Development Bank (VDB)
Village Development Bank (VDB) is a financial institution located in the village. It is owned and managed by the community itself. It carries out activities beyond accepting deposits, withdrawals and credit services but also provides welfare to its members. It also promotes community business and acts as a center for community development for a better quality of life.
The Village Development Bank was formed by people in the community who voluntarily joined together to help each other by continually saving money for the members to borrow to alleviate their suffering. The interest rate is 12 percent per year or 1 percent per month and the profits are allocated back to the members, providing welfare and establishing a village development fund.
village Development Bank (VDB)
History of the Village Development Bank (VDB) Project and Progression of the implementation of the project
Develop community business to grow
The Village Development Bank helps grow community businesses by supporting investments for various occupational groups within the village such as
- food processing groups
- handicraft groups
- organic farming groups
Many banks have invested in businesses such as community shops, fertilizer distribution businesses, tap water businesses and community drinking water businesses, etc., which, in addition to generating income for the bank, also help communities receive quality products at reasonable prices. appropriate
Encourage people in the community to help each other
Bank’s operations not mainly focused on the pursuit of profit but focusing on encouraging people in the community to help each other using the working mechanism of the Bank, which is a tool for “gathering people, gathering money, coming together”. The Bank’s Board of Directors received training in management Finance-Accounting, Leadership, Teamwork and community development to enhance operational potential
Village Development Bank and its role in village development
In addition to financial missions, the Village Development Bank plays a role in village development by encouraging members to cooperate in improving the livable environment in the community, such as planting trees. cleaning the village, roads, dredging canals, repairing the village’s public buildings, temples, schools, playgrounds and multipurpose pavilions.