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{
    "id": 1380343,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1380343/?format=api",
    "text_counter": 167,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "The Fund undertook a three-month pilot phase. One was from 1st July 2020 to 30th September 2023. During this period, Ksh841,901,505 was distributed to 18,955 women groups. Out of the disbursed amount, we have collected Ksh257,464,445. This translates to a repayment rate of 27.3 per cent, with cumulative savings of Ksh47,095,075. From the pilot phase, the Fund has reviewed the lending business rules to allow flexibility in loan limits, repayment period and on-boarding of borrowers with good repayment history under the old manual system. We project to disburse Ksh4.1 billion in the Financial Year 2023/2024. Hon. Speaker, on the second question, since inception of National Government Affirmative Action Fund (NGAAF)... What is the question? She asked two questions on Women Enterprise Fund (WEF). So, I am answering the last one. WEF has a unique preposition since it targets 100 per cent women constituted groups (affirmative action) besides having an existing client database ready for on-boarding. The Fund also offers a competitive interest rate of 6 per cent per annum on a reducing balance compared to the Hustler Fund at the rate of 8 per cent per annum on a reducing balance. However, the Fund is in the process of undertaking a survey to determine the effect of Hustler Fund on WEF operations. Thank you, Hon. Speaker."
}