Push to save counties from cash crunch
Governors and Senators are pushing for the creation of a Devolution Bond to cushion counties whenever there is delayed disbursement of funds.
Lawmakers have at the same time sought for the creation of a pension fund scheme for retired governors.
At the inaugural High-level meeting between the governors and senators, the leaders agreed with the National Treasury to introduce a Devolution Bond that would enable the latter to meet requests for Exchequer releases as they fall due.
Senate Majority Leader Aaron Cheruiyot (Kericho) told the governors and his colleagues that establishing a Devolution Bond would be panacea to the constant delays in remitting funds to the devolved units.
Cheruiyot argued that with Devolution Bond, the Treasury would be able to release funds to the counties without delay.
“We should engage the National Treasury to introduce the Devolution Bond to enable it meet funding requests as they fall due,” Cheruiyot said in his presentation at the meeting.
Cheruiyot says the move would see the government release its fair share of national cake to the devolved units on time and facilitate continuous delivery of services across the country.
In a communique between CoG and the Senate read by Governor Ann Waiguru (Kirinyaga) and Senate Speaker Amason Kingi, the two bodies agree that they would engage the National Treasury to introduce the Devolution Bond to enable it meet funding requests whenever they fall due.