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{
    "id": 563812,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/563812/?format=api",
    "text_counter": 77,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Ministry is not aware that the operation of the KTDC, which is currently known as the Tourism Finance Corporation (TFC), is disrupted because of the board of management has not been in operation. This is because the TFC is a different entity and it is operating, although they have been experiencing some challenges, which arose from the slow operationalization of the Tourism Act of 2011. The challenge relates to a clause in the Act on the appointment of the board of directors. The parastatal could not, therefore, disburse loans or approve loan disbursements. However, it has been carrying out its other operations, including repayments from past disbursements. This is a matter that is pending before the National Assembly for the amendment of that Act. On when the amalgamation process will be expedited, after the recommendations of the task force were submitted to Parliament, that matter has yet to be deliberated on and appropriate legislations enacted. Lastly, on the clarification whether eligible investors who are interested in hotel development could access development loans while the amalgamation process is awaited; the Ministry is in the process of constituting a board of management after which the disbursement of loans to investors by the corporation will commence. At this stage, I am not able to say when exactly the board will be put in place. However, there is a process to put up a board in place very soon."
}