15 August 2013 — A teachers’ project in Myanmar is using the interest from community loans to pay teachers’ salaries.

It is also improving children’s education and helping local businesses flourish in poverty-stricken Myanmar.

With the majority funded by Teachers Mutual Bank, the Credit Union Foundation Australia partnership offers a sustainable funding model designed to help break the poverty cycle in the region which is one of the poorest areas in Asia.

The CUFA partnership funding model provides loan capital for 20 community credit unions that are run out of the monasteries.