Kisii County assembly members have adopted a motion on a policy laying the ground for the enactment of a law establishing an enterprise fund for the youth, women and persons with disability with an initial allocation of a Sh18 million.
The motion on the county youth, women, and person with disability financial services support was moved by Bogeka ward representative Charles Nyagoto who is also the chairman of the county assembly committee on children, culture and community service.
The MCAs called for the formation of a committee to administer the revolving fund saying it should be managed transparently to ensure the targeted groups benefitted.
Nyagoto said the enterprise fund is meant to assist the marginalised groups in the region in improving their lot by starting income generating projects.
“We want to include all people in the county government no matter what the background one comes from,” he added.
The overall aim of the policy is to empower youth, women and people with disability by enabling them access cheap credit to save them the agony of high interest charged on loans by mainstream financial institutions, according to the MCAs.
He also added that they are sometimes forced to settle outstanding loans owed to such institutions by locals hence the need to create the fund as a home-grown solution to business financing among locals.
The MCAs noted that the fund will help the locals fight poverty and improve their living standards once it is rolled out.