Saturday, July 26, 2008

UNDP gives a 25% cut to generals on its CASH micro-finance programme in Myanmar

On July 11th, 2008 - responding to InnerCityPress questions, UNDP Spokesperson said:

"UNDP Funds are remitted into the UNDP US dollar account at Myanmar Foreign Trade Bank. UNDP Myanmar exchanges US dollars for Foreign Exchange Certificates at the Bank, and then converts these into local currency (Kyat). The exchange rate is based on the prevailing [most competitive] rate in the market, which can fluctuate."

But Ban Ki-moon's Special Humanitarian Envoy, Holmes said yeaterday interview with the German Press Agency in Burma, that: - "the exchange rate gap amounts to losses of millions of dollars and - where that gain goes I'm not sure."

As in the case with North Korea - UNDP lied again about it's operations. From 2004, UNDP has spent the equivalent of 39 Million US Dollars inside Myanmar "working closely" with Junta Dictatorship on micro-finance and small-medium-enterprise development programmes (CASH).

So if the latest revelations that Myanmar generals get's a cut of 25% on exchange rate, is true, than how much did UNDP tacitly gave to these brutal dictators?

2004-2008 PRG (39 Million USD) x 0.25 = US$ 9,750,000

A price to pay, in order to help the poor people of Myanmar.... but did UNDP really helped the poor in Myanmar? Follow this site, we will bring you more about UNDP's affairs with dictatorships.

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