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{
    "id": 12779,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/12779/?format=api",
    "text_counter": 335,
    "type": "speech",
    "speaker_name": "Mr. Kinyanjui",
    "speaker_title": "",
    "speaker": {
        "id": 48,
        "legal_name": "Lee Maiyani Kinyanjui",
        "slug": "lee-kinyanjui"
    },
    "content": "Mr. Deputy Speaker, Sir, I want to clarify the first question on how the Fund grew to Kshs3.8 billion to Kshs89.6 billion. I have indicated that the Government was to contribute Kshs3 billion and for every shilling that the Government contributed, the other banks should contribute Kshs5. So, if the Government gives Kshs3, then the banks collectively would multiply by five. That is basically what we mean. So, Kshs3 is what the Government was bringing and then, the Kshs0.8 million would go to capacity building. One of the areas that has been found wanting in terms of MSEs is that, if you give them money without proper training, they will not be able to repay the money. So, it would be critical to ensure that we train them before we give them the money. Therefore, for that reason, the Government said that for every shilling, we give 0.5 of a shilling for training. So, that became an important criterion for banks to qualify. The three that I have indicated are the ones that qualified."
}