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"id": 1352755,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352755/?format=api",
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"type": "speech",
"speaker_name": "Dadaab, WDM",
"speaker_title": "Hon. Farah Maalim",
"speaker": null,
"content": " Yes, syndicated loans are usually borrowed from commercial banks. When you go and ask for a euro bond, for example, they force you to pay the loans that you took from banks in their own region. When you borrow from commercial banks for projects like the Standard Gauge Railway (SGR), firstly, they are punitive in terms of the interest charged. Secondly, they do not insist on a serious project and financial audit of those loans. However, when you take it from the World Bank, the International Monetary Fund (IMF) and some other bilateral bodies that are very big, of course, the interest is almost concessional. It is very cheap. They also make sure that the money serves the purpose for which it was intended. So, percentages of commissions, which almost always end up in the pockets of people in government are not there. That is why The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}