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{
    "id": 188047,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/188047/?format=api",
    "text_counter": 208,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister for Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": "This will mobilize internal resources which will help us to finance some of the infrastructure projects like this one of Mombasa. However, the terms of this loan are such that even if we floated bonds, we cannot match locally the terms offered by the Japanese Government. It is not easy to find a concessionary loan--- If you mobilise funds locally, that will still be a loan. It will still be a public debt and will still have to be serviced. It will have to be serviced at reasonable market prices in terms of interest. If we get donors who give us concessionary loans like this particular one, I think it is prudent that we give Japan a pat on the back, because no country has given us this kind of concessionary loan, including our biggest multinational donors like the World Bank and others. So, I think Japan has done very well in this respect. Even if we move in that direction of mobilizing internal resources, it cannot be the exclusive source of funding. We must look for all the resources, including from donors, and study each and every case on its own merit and give it consideration. Mr. Temporary Deputy Speaker, Sir, the issue of the railways and the road network are very important, because we need connectivity. We need to move from the Port to inland; we need to improve our road network in order to make this project meaningful. Hon. Members have spoken about the Rift Valley Railways (RVR), which is managing our railway system. This is, again, one issue which the Government is discussing very actively, and it will soon be resolved. The intention for giving that particular concession to the RVR was very good, but as in every venture, a good thing might turn out to have a problem. However, the problem has already been identified and it is being resolved. Mr. Temporary Deputy Speaker, Sir, we have given the Ministry of Roads a good budget, and we hope that the road network will continue to be improved. The road from Mombasa is already being constructed. It will soon reach Nairobi. The northern corridor road is under construction. So, we hope that the improvement that we require in order to actualise and make this project more effective is in place. I am, therefore, pleading with hon. Members to bear with us that everything is being done to involve a private public partnership which, again, is in the pipeline. We are developing a structure which will show exactly how the Government intends to involve the private sector in the development process, including the mobilisation of resources, which are quite available locally. Mr. Temporary Deputy Speaker, Sir, with those few remarks, I beg to move."
}