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{
    "id": 26441,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/26441/?format=api",
    "text_counter": 429,
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    "speaker_name": "",
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    "speaker": null,
    "content": "There was the issue that was raised on Clause 4(2)(b), which is the question of the borrower being capable of repaying the loan. The reason we have left it like this, and we have not stated that there should be an audit of the accounts or anything like that, is because we took into account the counties once again. Many of the counties will not have had a three or four year track record. As hon. Mwadeghu has said, looking into the future, they will be able to pay. Now, if we then say that they will be subject to three years previous accounts, for example, we may be denying chances to people who will have the potential to benefit from these guarantees as a result of future incomes. That is why it is left the way it is. This is to ensure that counties are able to get guarantees on the basis of assets that they may have, and that they will seek to exploit. We use the word “likely” because we had previously taken three years previous audited accounts, but it was felt strongly by the Cabinet that we will be dealing with new counties that will not have had a track record, and that will look at the future. That is why the Bill is framed as it is."
}