Nairobi Senator Edwin Sifuna has said that President William Ruto had promised Kenyans a grant and not a loan during the campaigns.
Speaking on Thursday, Sifuna said that the President had promised a grant that could not be subject to interest.
"The Hustler Fund is not what Kenyans were promised during campaigns, they were promised a grant where it would not be subject to any interest but what was launched on Wednesday is essentially a government-run Fuliza," he said on Citizen TV.
"We expected that there would be a supplementary appropriation for the Hustler Fund, the source of fund is problematic."
President William Ruto launched the Hustlers Fund at the Green Park terminus in Nairobi, to fulfil a commitment he made to help Kenyans have easy access to affordable credit for their businesses.
He outlined three objectives of the fund, which are mainly to create jobs, strengthen the economy and empower investors both domestically and internationally.
The funds, which are available to individuals, groups, small enterprises and co-operatives will be offered at a one-digit interest rate of eight per cent per annum.
