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"id": 1549950,
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"type": "speech",
"speaker_name": "Kitui Rural, WDM",
"speaker_title": "Hon. David Mwalika",
"speaker": null,
"content": "The AFC is a solution to financing challenges that are facing Africa because there are no conditions and countries can negotiate favourable interest rates and repayment periods. The AFC is financing infrastructural projects which have a long gestation period and, therefore, the interest rates have to be low to ensure that countries do not suffer. Kenya has already received US$370 million since joining AFC in 2017 to finance various projects in energy, transport and natural resources, among others. In addition, the country is planning various projects and programmes at a cost of US$756 million to finance wind power energy, the Dongo Kundu Special Economic Zone, and the Kenya Fund Investment Consortium, among others. Based on the intentions of AFC, I urge this honourable House to support this noble initiative."
}