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{
    "id": 1378650,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1378650/?format=api",
    "text_counter": 306,
    "type": "speech",
    "speaker_name": "Kitui Central, WDM",
    "speaker_title": "Hon. (Dr) Makali Mulu",
    "speaker": null,
    "content": "There are situations where we borrow loans, but there is a problem in their application. I want to give a very good example. When the current Eurobond was taken, Hon. Wangwe, Hon. Mbadi and I were here in 2014. All along, the Auditor-General has been saying that she was not sure where that money was applied. You can see it now. We do not need any evidence. We borrowed that money 10 years ago. If we had invested it in a productive activity, the loan would be repaying itself. We have now gone out to Eurobond again to take another one to pay back the one of 2014. What does it mean? The money was not used in any economic activity, so that it could support repayment of the loan. You do not borrow to consume but to invest. Anybody who goes out there to borrow must invest. We should hold people responsible. If you go out and commit Kenya to a loan which is not used for investment, you should pay it alone. In that case, accounting officers will be more serious in terms of prudent management of public resources. This country will go to where it should be. 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"
}