SIAYA, 17th MARCH, 2021
The House has today passed The Siaya County Co-operative Development Fund Bill, 2019 with amendments.
The Bill purposes to establish a Development Fund for the co-operative sub-sector in Siaya County by providing low interest loans to co-operative organizations that seek to promote the welfare and economic uplift of the people of Siaya County.
“The idea of coming up with a Co-operative Development Fund Bill came as a result of the need to come up with a revolving fund where cooperative societies would obtain affordable loans for onward lending to its members at low interest rate, “explained the Chairperson Trade, Industry and Co-operative Committee and Member for Ukwala Ward, Hon. Peter Oduor, MCA.
The Siaya County Co-operative Development Fund Bill also intends to attract and facilitate investments in cooperative organisations that have linkages to micro, small and medium enterprises that benefit persons with disability, youth and women groups.
The Bill further seeks to provide funds to support, revive and initiate cooperative sub sector organizations in areas that can have immediate impact to household economy.