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"id": 1110094,
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"type": "speech",
"speaker_name": "Hon. Lusaka",
"speaker_title": "The Speaker",
"speaker": null,
"content": "Section 31(3) of the Public Finance Management Act, 2021 states that: “At the end of every four months, the Cabinet Secretary shall submit a report to Parliament stating the loan balances brought forward, carried down, drawings and amortizations on new loans obtained from outside Kenya or denominated in foreign currency, and such other information as may be prescribed by regulations, specifying— (a) the names of the parties to the loan; (b) the amount of the loan and the currency in which it is expressed and in which it is repayable; (c) the terms and conditions of the loan, including interest and other charges payable and the terms of repayment; (d) the amount of the loan advanced at the time the report is submitted; and, (e) the purpose for which the loan was used and the perceived benefits of the loan; and such other information as the Cabinet Secretary may consider appropriate.” Hon. Senators, this report is submitted to the Senate for information. However, the Standing Committee on Finance and Budget may scrutinize the contents of this report and make observations and recommendations thereon. Thank you. Sen. Wetangula."
}