The National League for Democracy will contribute Ks200 million to the peace fund, Win Htein of the party's central executive committee told the media after a meeting at Nay Pyi Taw's Sipin Guest House.
After the November 2015 election, Aung San Suu Kyi, then chair of the NLD, told the successful candidates that the party would collect 25 per cent of their monthly salaries for party funds. The fund is now being redistributed.
The NLD secured 382 seats in the 2015 election, 250 in the Lower House and 132 in the Upper House. Each MP gets a monthly salary of Ks1 million.
An agreement was reached on the formation of the Joint Coordination Body for Peace Process Funding at a meeting in Nay Pyi Taw on December 20. The body is headed by Aung San Suu Kyi, who is also the chair of the National Reconciliation and Peace Centre with eight representatives from the government and eight from ethnic armed groups.