Myanmar has been in bloody turmoil since the military’s Feb 1 coup and movements that have sprang up to challenge the junta have been mainly supported by public donations.

The National Unity Government (NUG), an alliance of pro-democracy groups, ethnic minority armies and remnants of the ousted civilian government, said bonds went on sale yesterday to mainly Myanmar nationals overseas in denominations of US$100, US$500, US$1,000 and US$5,000, with two-year tenures.

Even though the bonds will generate no interest income for buyers, US$3 million worth were sold in the first three hours, the NUG said, increasing to US$6.3 million by the end of the day. Its overall target is US$1 billion.

“From this, I witness the enthusiasm of people in the case of uprooting the fascist military,” NUG spokesman, Dr. Sasa, said on Facebook.

The junta has outlawed the NUG and designated it a “terrorist” movement.

The NUG has not disclosed how the funds would be used.

A spokesperson for the junta did not immediately respond to a request for comment.

Opposition groups have been trying to stifle the military’s efforts to consolidate power by encouraging people not to pay taxes and to join protests, a civil disobedience campaign and boycotts of army-linked businesses and a national lottery.

Buyers of the bonds made payments via international transfers to an account in the Czech Republic, the NUG said.

A 27-year-old Myanmar citizen, who asked not to be named for security reasons, said she invested US$500 in the bonds.

“We do not expect to get money back after two years. We are buying it because we want to contribute to the revolution,” she said.