Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1352715,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352715/?format=api",
    "text_counter": 2475,
    "type": "speech",
    "speaker_name": "Kitui Rural, WDM",
    "speaker_title": "Hon. David Mwalika",
    "speaker": null,
    "content": "When I was working at the National Treasury, before I joined this place, I negotiated a loan for this country at one time. I also managed a donor funded project. One of the reasons why there are delays in disbursement is lack of provision of counterpart funds. Normally, when you negotiate for a loan, the donors tell you that they will fund 80 per cent and then you look for the 20 per cent. In most instances, the Government does not provide the 20 per cent. The donors will not give you the 80 per cent before you provide the 20 per cent. The other reason is the administrative conditions that they give you. They tell you to, first, set up an office or unit and if you do not do so, they do not give you the loan. The delayed loan disbursement has implications. Two weeks ago, the Controller of Budget brought up an issue of penalties that the country is paying because of not accessing the funds. She said that in the last financial year, we paid Ksh1.5 billion as penalties. That is a lot of money. You are giving out this money without any returns. We need to look into this issue. The other reason is that we may not benefit from the project by the time the repayment begins. All the projects have a start and end period. By the time you are accessing all the money to implement the project and start paying, the impact of that project may not assist in repayment of the loan. We also have incomplete projects. At times when the period ends, you may end up with an incomplete project. We have over 4,000 projects in this country which are incomplete. That is the money that the country has put in those projects but they have no impact to the socio-economic welfare of Kenyans."
}