Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 189535,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/189535/?format=api",
    "text_counter": 43,
    "type": "speech",
    "speaker_name": "Mr. Ndambuki",
    "speaker_title": "",
    "speaker": {
        "id": 191,
        "legal_name": "Gideon Musyoka Ndambuki",
        "slug": "gideon-ndambuki"
    },
    "content": "Mr. Speaker, Sir, I would like to clarify the issue of Equity Bank partnership with the Government. I would like to say here that the Government has never given money to Equity Bank to loan to farmers. This was purely a private initiative, which is being guaranteed by AGRA and IFAD, each contributing US$2.5 million. That gives a total of US$5 million. The Government has nothing to do with it. The only reason the Government came in was that we negotiated with them, so that it could be put in Equity Bank and make it a revolving fund. Equity Bank agreed that if we placed the US$5 million with them, they were willing to give US$3.2 million to farmers dealing in grains. So there is no money from the Government. Mr. Speaker, Sir, the other issue is that there are other banks, which are willing to come in; examples are the Cooperative Bank of Kenya, the Kenya Commercial Bank and the Family Finance Bank. They have approached us for a similar arrangement. Mr. Speaker, Sir, however, at the moment, the only institution giving farmers loans, and in which the Government is involved, is the AFC. Up to the last financial year, the Government had injected Kshs1.3 billion. Mr. Speaker, Sir, our partners have also injected Kshs1.5 billion into the AFC. So, there is no crippling of the AFC. The AFC is doing its work and nothing has changed. 1802 PARLIAMENTARY DEBATES July 15, 2008"
}