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{
    "id": 493788,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493788/?format=api",
    "text_counter": 152,
    "type": "speech",
    "speaker_name": "Hon. Irea",
    "speaker_title": "",
    "speaker": {
        "id": 1335,
        "legal_name": "Gideon Mwiti Irea",
        "slug": "gideon-mwiti-irea"
    },
    "content": "loan, the ability to pay, the risk involved and insurance. In this case, the men who are getting the money are in the villages. Therefore, they will improve their character so that they can access the fund. Hon. Temporary Deputy Speaker, the Youth Enterprise Development Fund and the Uwezo Fund are very important funds. However, before any money is released, if we pass this Motion, training should start immediately. The funds should not go to the account the way the Uwezo Funds have been sent and training is starting at the same time. Therefore, I would like to say that training should start so that people will know how to borrow from the fund, how to use it and how to repay. That is if we pass this Motion. We should also look at ways of controlling banks in this country. That is because the money the people are borrowing from those funds is being put in our banks. For example, if somebody gets Kshs30,000 and he wants to buy a motorbike using hire purchase finance from a bank, he will get the money from Uwezo Fund at zero interest rate, but will end up paying 18 per cent to the bank to access the loan for the motorbike. Therefore, the Government’s effort to give out that money to people at zero interest rate is defeated when borrowing is done from commercial banks. I propose that if we put all those funds together. We need, for example, to have a Kenya youth bank. That bank will be lending money to the youth at affordable interest rates so that people do not borrow only from the funds that we have created. Hon. Temporary Deputy Speaker, I support this Motion. The Mover of this Motion had thought about it. It is a very important Motion. Thank you."
}