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{
    "id": 401506,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/401506/?format=api",
    "text_counter": 221,
    "type": "speech",
    "speaker_name": "Sen. Chelule",
    "speaker_title": "",
    "speaker": {
        "id": 13126,
        "legal_name": "Liza Chelule",
        "slug": "liza-chelule"
    },
    "content": "Madam Temporary Speaker, I beg to move the following Motion. THAT, aware that agriculture is the backbone of the Kenyan economy and one of the avenues through which poverty reduction can be achieved; concerned that the Agricultural Finance Corporation (AFC) is charging high interest rates on loans and imposing heavy penalties on loan defaulters; the Senate urges the National Government to provide cheap credit to farmers by reducing the current interest rates charged by the Corporation from 10% to 3% and abolish the penalties imposed on loan defaulters. Madam Temporary Speaker, I have the following reasons to support my Motion this afternoon. We all know that agriculture is the backbone of our economy. This is an activity that is undertaken by most people at the grassroots level. Agriculture is the only way we can reduce poverty and grow our economy as a country. Today, we are sitting here as healthy leaders of this country because of one person and that is the farmer. A farmer contributes highly to the growth of this country. This is an activity that is being undertaken by majority of the people. These are the same people who pay taxes in this country. There is no way that we can improve our livelihoods without agriculture. It is my concern, this afternoon; to inform Senators that there is no way we can empower farmers if we do not avail cheap credit to them. We all know that the Agricultural Finance Corporation (AFC) has been assisting farmers. However, the problem with it now is the high interest rates. It is my humble request to Senators to contribute to this Motion positively because if the rates are reduced from 10 per cent to 3 per cent, this will give an opportunity to the people at the grassroots level, especially women and the youth who are idle due to unemployment. This will encourage them to engage in farming activities. We are aware that the Government is also channeling funds through banks or some micro-finance institutions. It is my request that instead of channeling this money through banks, this money should be channeled through the AFC. The AFC should even be upgraded from being a corporation to a bank. This would enable the institution to give support to farmers by giving them cheap money. The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate"
}