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{
    "id": 779221,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/779221/?format=api",
    "text_counter": 114,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "account of the high default rate by the residents. The main objective of the fund is to provide access to affordable credit for groups of women, youth and persons with disabilities geared toward promoting their enterprises. The beneficiary groups are supposed to repay the loans within 24 months after the expiry of a sixth month grace period. The fund is a constituency-based revolving fund where the repaid amounts are loaned to other deserving groups to enhance access to as many groups in the constituencies as possible. In addition, the repaid amounts are loaned as additional funds to groups that have successfully completed their previous loans, progressively to a maximum amount of Ksh500,000, as stipulated by the Fund’s regulations. Thereafter the groups are linked to financial institutions for further loaning as may be required. Consequently, it is not prudent for the government to waive the outstanding loans as this will negate the very objective of the Fund and deny other deserving groups in the constituencies. This is in line with Section 21 of the Public Finance Management Act, Uwezo Fund Regulations 2014, which provide for full repayment of the funds by all recipient groups. The Fund’s secretariat, in liaison with the patrons in the National Government and administrative officers, are involved in intensive loan repayment campaigns in constituencies with very low loan repayment to boost the repayment rates and the response is encouraging. Mr. Speaker, Sir, that is the response I have. I am sorry there is a bit of a mix up in Kibwezi East and Makueni constituencies. But together with the Senator, we will try to get the actual figures so as to rectify this. Thank you, Mr. Speaker, Sir."
}