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{
    "id": 1550010,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1550010/?format=api",
    "text_counter": 289,
    "type": "speech",
    "speaker_name": "Garissa Town, UDA",
    "speaker_title": "Hon. Dekow Mohamed",
    "speaker": null,
    "content": " Sorry, Hon. Temporary Speaker. I did not come with a card today, but I promise that next time I will. Thank you for giving me this opportunity, Hon. Temporary Speaker. Kenya is the sixth largest economy in the African Continent. I am surprised that we are having this debate at this time. Having established this co-operation in 2007, this debate should have happened a long time ago. Although it is late, it is not too late. America, the major shareholder in the World Bank and International Monetary Fund (IMF), still borrows from those financial institutions to develop its roads, electricity, communication systems, railways, health systems and water systems. We need to be in this kind of grouping or organisation. As the sixth largest economy in Africa, we can influence by contributing almost the largest amount into that fund so that we can benefit from it. America itself borrows from China, other countries, and other financial institutions. The other day, they joined the Asian Bank as one of the shareholders. As a country, this is a very timely decision. We thank the Chairman and his team for bringing this. For sure, I think we will pass this Motion, and it will be actualised. To develop as Africans, we must pool our resources together, both from the private and public sectors, so that we can develop joint infrastructure programmes that will cut across all the countries. We are endowed with a lot of resources in the African Continent. But we lack those kinds of organisations to support systems for the region to develop. IMF, World Bank, and other institutions we borrow from charge very high interest rates. USA borrows at maybe 0.5 per cent. But at the same time, the World Bank charges us a double-digit percentage when we borrow from them. They are using our money and the interest they gain from us to develop their regions and countries. So, I support the Motion and it is timely. Thank you very much for giving me the time."
}