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{
    "id": 1352663,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352663/?format=api",
    "text_counter": 2423,
    "type": "speech",
    "speaker_name": "Mosop, UDA",
    "speaker_title": "Hon. Abraham Kirwa",
    "speaker": null,
    "content": "On Recommendation No.8.11, as from Financial Year 2024/2025, at the end of the sector working group engagement, the National Treasury and Economic Planning should submit to the National Assembly a report containing the list of potential projects for which the loan financing will be contracted to the potential creditors and the respective loan terms. This will make us understand exactly why we are taking loans and if the loans have been used and disbursed. Under Recommendation No. 8.12, arising from 8.11 above, the final list of the projects to be financed through the borrowing should be submitted to the National Assembly. All these recommendations are coming to the National Assembly so that we become the watchdogs of the money that we are taking as a nation. This is because our loan right now is standing at about Ksh9.6 trillion. Most of those loans are non-performing loans. Some of them have not been disbursed and as a country we are paying dearly for what we have not incurred. Next is Committee observation No.7.1. The submitted report lacked project specific information required to guide policy-making and oversight, which indicates low level of transparency and accountability. Most of the loans that were taken are not transparent. It does not show when they were taken, why they were taken, and where the money was used. This Committee says that within 30 days of signing the contract, it should be submitted to Parliament so that they review the terms. Under Committee observation 7.2, only three loans have been disbursed, which is 11 per cent. The rest, 89 per cent of the loans, remain undisbursed. I truly support this Report that we need to look into the loans we take as a nation and hold the National Treasury and the concerned departments accountable. That way, the country will be responsible for every loan and all the debts we take as a nation. I support this Report."
}