By Erick Nyayiera
The Siaya County Assembly has finally passed the County’s Co-operative Development Fund Bill, 2019.
The passage of the Bill will pave for the establishment of a development fund for supporting the co-operative sub-sector in the county once it is assented to by the Governor.
The fund will assist co-operatives in the county through provision of low interest loans to promote the welfare and economic standards of the residents.
The motion was tabled by Ukwala ward Member of the County Assembly (MCA) Peter Oduor who is the Chairperson of the Trade, Industry and Co-operative Committee.
He explained that idea of the Bill was motivated by the need for a revolving fund from which cooperative societies can obtain affordable loans to lend members at low interest rates.
The Bill also intends to attract and facilitate investments in co-operative organizations 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 revive and initiate the co-operative sub-sector organizations in areas that have immediate impact to household economy.
