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{
    "id": 528942,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/528942/?format=api",
    "text_counter": 160,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "debt from a commercial bank of about Kshs4 billion for the County Government of Nairobi. The law is very clear that, except for short term borrowings like overdrafts to cover payroll exposures, the county governments are not mandated to borrow any long term finance, specifically for development or related activities, unless those debts are guaranteed by the county government and in this regard, by the national Government. In this regard, we are aware that the Treasury is still working out an appropriate legislation with regard to loans or borrowings by the county governments. Therefore, it would be inappropriate for any county assembly to purport to approve a loan of that size for development programmes without the appropriate legislation in place. Mr. Deputy Speaker, Sir, this amendment is critical to protect the interests of the county governments. These are institutions that have come in recently and they have many challenges and risks, not just by predators from this era, but also predators from the previous era who want to maximize on the lack of records and accountability in the previous dispensation. So, it is very important and I want to lend my support to this Bill that we should provide appropriate protection. This is the mandate of this Senate to protect the interests of the county governments and the interest of the counties. So, it is a very important Bill and I stand to support it."
}