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{
    "id": 1382312,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382312/?format=api",
    "text_counter": 198,
    "type": "speech",
    "speaker_name": "Emuhaya, ANC",
    "speaker_title": "Hon. Omboko Milemba",
    "speaker": null,
    "content": "Another case study which is showing what is making our borrowing to escalate, is the high commitment fees and timelines for disbursing loans. During the Committee sittings, we saw that Kenya has been loaned money by several institutions, but the National Treasury has not utilised it. Somehow, the country is still paying commitment fees for those loans year-in, year-out, even though they are unutilised. This has escalated our borrowing and it is very bad. I urge the Government to go slow in committing itself to taking loans that it is not ready to utilise. As I conclude, I also want to speak on the issue of various expensive loans that are taken but, unfortunately, are not utilised. Like an Hon. Member said earlier, sometimes, we end up taking expensive loans to pay cheaper ones. This is dangerous because of the deficit we have in our budget. Hon. Deputy Speaker, with those few remarks, I support."
}