{"id":12802,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/12802/?format=json","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."}