On 14 November 2014, under the witness of China Premier Li Keqiang, and Myanmar President Thein Sein, CITIC Group and the Ministry of Livestock, Fisheries and Rural Development of Myanmar, formally signed the " Memorandum of Understanding on Implementation of the Village Fund Program", to help 50 Myanmar’s remote villages out of poverty and improve their living conditions. In February 2015, CITIC Group donated $1.5 million to these 50 villages to set up a fund for rural development, and introduce professional team to organize a wide variety of training for the local people, including advanced technology and other skills. The public welfare project directly benefited the local villagers, and received encouragement and support from highest levels of the Myanmar government. 



CITIC Group had paid several return visits to the villages enjoying the VFP, in order to learn and inspect the using practice of the fund. Based on each of their family conditions, the villager applicants took the fund loan to bought piglets, calves, eanling, chicken, fishing tools, feedstuff and vegetable plants, etc. and some applicants opened family shop. Most of the fund applicants in the villages had boosted their family economics, and resulted in good return. The interest of fund loan was rather lower, and the repayment arrangement was reasonable, which lead to good repayment. Some of the villages started to think about updating the village infrastructure with the repaid interest.



CITIC Group will continue to visit and communicate with local villagers enjoying VFP, in order to further improve the efficiency and effect of the fund.