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{
    "id": 555828,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/555828/?format=api",
    "text_counter": 230,
    "type": "speech",
    "speaker_name": "Hon. Anyango",
    "speaker_title": "",
    "speaker": {
        "id": 130,
        "legal_name": "Dalmas Anyango Otieno",
        "slug": "dalmas-otieno"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker. Let me thank hon. Irungu for donating to me this one minute. I only have two points. One, the real challenge for HELB is funding. Section 12(1)(d) allowed them to borrow. They have not been creative enough in commencing the issue of loans at the current Government guarantee rates. It is possible given the current asset base of the fund to be able to issue long term bonds, to be able to fund education again at interest rates which would be pegged on the Central Bank of Kenya (CBK) rate as of now. On such a basis, it is not going to rely on the annual allocation of funds by Parliament because Kshs4.9 billion is really nothing given the demand for funding. Secondly, there is discrimination. Those who are under the Joint Admissions Board (JAB), much of their schooling is already paid for by Government. What they are getting is for the little extra. Very soon in this country, the parallel degree programme students are going to be as many as the JAB students and they will be requiring more money. On that basis, they would have to borrow from the banks at the commercial bank rates. It is this education fund that can help them by taking the money at Government bond rates and being able to lend it over to those students. Why do I say so? You are lending to the cream of the country. All of them are graduates. So long as we pursue the right wealth and creation policies, they will get jobs in the end. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}