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{
    "id": 1549958,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1549958/?format=api",
    "text_counter": 237,
    "type": "speech",
    "speaker_name": "Butula, ODM",
    "speaker_title": "Hon. Maero Oyula",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. Let me add my voice to this important Motion. I support the ratification of the agreement on AFC. Africa has had only ADB, but it has not been able to satisfy the needs of African countries and so, AFC will support the gap that ADB has not filled. The AFC is a development finance institution that supports African countries in infrastructure development, power generation and other development activities. It is owned by African countries. So far, it has 43 members, with its Headquarters in Lagos, Nigeria. With AFC, reliance on expensive multilateral and bilateral loans will go down. We should ratify this treaty so that Kenya can be a member to raise financing for infrastructure development. It is important that we move away from expensive loans. We should move away from the conditions always imposed by IMF and World Bank before we get any financing. The AFC is a home-bred institution that will not impose so many conditionalities like IMF and the World Bank. I urge this House to support the ratification of this agreement so that Kenya becomes a free member and starts borrowing from the Corporation. I support this Motion, Hon. Temporary Speaker."
}