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{
"id": 1180342,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1180342/?format=api",
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"type": "speech",
"speaker_name": "Ainabkoi, UDA",
"speaker_title": "Hon. Samwel Chepkonga",
"speaker": null,
"content": "People will borrow between Ksh50,000 and Ksh250,000. The new regulations will be brought to cover that Fund. This is intended to give money to the lower stratum of the society – the Bottom- up Economic Model. These are people who buy vegetables from the market and then they sell. They borrow Ksh100 or Ksh1,000 and then, at the end of the day, they must pay back with Ksh100 as interest. That means they pay 100 per cent interest on the Ksh1,000 they have borrowed. This Fund has 8 per cent interest over a period of one year. If you divide by 365, it will be 0.001. That will be the cost. In fact, Hon. Junet is very happy because that will be the cost of running that Fund."
}