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{
    "id": 12787,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/12787/?format=api",
    "text_counter": 343,
    "type": "speech",
    "speaker_name": "Mr. Kinyanjui",
    "speaker_title": "",
    "speaker": {
        "id": 48,
        "legal_name": "Lee Maiyani Kinyanjui",
        "slug": "lee-kinyanjui"
    },
    "content": "Regarding the interest rate at which we were giving the money to the banks, it is at 6 per cent. We expect them to lend the money at a fairly competitive rate. The Government is giving the money to the banks at 6 per cent. But as to the lending, it depends on the market. We cannot dictate rate that the banks will be lending at because for every shilling we give, they give five. So, there is no way the Government can dictate how much it will lend its component. What we have done is that, previously, they have been lending at about 30 per cent and, sometimes, up to 35 per cent. But that has significantly come down to about 15 per cent or 20 per cent. I think that is commendable."
}