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{
    "id": 1549994,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1549994/?format=api",
    "text_counter": 273,
    "type": "speech",
    "speaker_name": "Yatta, WDM",
    "speaker_title": "Hon. Robert Basil",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker, for giving me the Floor to contribute or weigh in my points. I support the Motion on ratification of the agreement for the establishment of Africa Finance Corporation. If you look at the world today, United States of America (USA) is saying “America first.” President Trump is even cutting off aid to the rest of the world. As a result, even Europe is regrouping and trying to protect itself from the effects of President Trump and what is happening in USA. It is high time that Africa follows suit and became self-reliant. We over- rely on International Monetary Fund (IMF) and World Bank, which advance the interests of USA, but not of Africa. The interest rates that IMF and World Bank give Africa are quite high. They also bring conditions like the structural adjustment programmes that were there in the 1990s. We have the same conditions today. It explains why many of the African nations are still grappling with poverty and struggling to emerge from economic suffering that they have been subjected to since 1963 and during colonialism. Therefore, this particular Motion is timely. As I said, I fully support the ratification of this agreement for the establishment of Africa Finance Corporation. Some of the benefits that we will get from joining Africa Finance Corporation include support on infrastructure development. We are still struggling with poor roads. The energy sector is facing a big challenge. You can look at the Rural Electrification Programme where many constituencies, for example, Yatta, are below 30 per cent electricity 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."
}