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{
    "id": 12802,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/12802/?format=api",
    "text_counter": 358,
    "type": "speech",
    "speaker_name": "Mr. M’Mithiaru",
    "speaker_title": "",
    "speaker": {
        "id": 72,
        "legal_name": "Ntoitha M'mithiaru",
        "slug": "ntoitha-mmithiaru"
    },
    "content": "On a point of order, Mr. Deputy Speaker, Sir. The establishment of this Fund was to spur development of micro-enterprises. The Assistant Minister has already said that they are passing this money to the banks to lend it out at the rate of 6 per cent. The Assistant Minister is aware that the base rate, as of today, is 16.5 per cent. So, banks cannot lend at a rate lower than that. The Assistant Minister is defeating the very efforts that they were supposed to support because they are now stifling the micro-enterprises. He must be clear on what the primary purpose of this was and that is why I support Mr. Mwathi’s suggestion."
}