Entry Instance

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

{
    "id": 394008,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/394008/?format=api",
    "text_counter": 95,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "signed between the two governments, mainly through the Cabinet Secretaries in charge of finance. Secondly, the government of the Peoples Republic of China agreed to provide the Kenya Government with an interest free loan of Kshs2,840,000,000 within five years from the 1st September, 2013 to 31st August, 2018. This loan shall be utilized to fund the economic and technical cooperation projects; again to be agreed upon through consultations between the two governments. The specifics of these projects shall be stipulated in such agreements to be subsequently signed by the two governments, and in this regard Parliament will be notified. Hon. Deputy Speaker, the amount of loan shall be paid annually at a rate of one- tenth by the Government of Kenya over a period of ten years from 1st September, 2023 to 31st August, 2033 in convertible currencies or with export commodities from Kenya to be agreed on through consultations between the two governments. Still on the issue of the loans, the exchange rate for the repayment shall be calculated in accordance with the middle rate of the Chinese Renmimbi against the convertible currency used by the Government of Kenya, which is published by the Bank of China on the last working day of each year during its utilization period. The banking agreement on accounting procedures for implementation of the agreement shall be signed upon consultations between China Development Bank and the National Treasury of Kenya. The Government of the People’s Republic of China agreed to provide the Government of Kenya with a concessional loan in the amount not exceeding Kshs11,828,600,000. The loan shall be utilized for Nairobi City Centre Extra High Voltage (EHV) and 66KV Network Upgrade and Reinforcement Project. The terms of this loan are as follows:-"
}