Kenya is set to become the African hub for the European Bank for Reconstruction and Development (EBRD), a move that President William Ruto has welcomed as a major step towards accelerating economic development. The establishment of the EBRD’s continental office in Nairobi is currently undergoing ratification in Parliament.
President Ruto announced the development during the Fourth International Conference on Financing for Development in Seville, Spain, after holding talks with EBRD President Odile Renaud-Basso. He emphasized that the EBRD’s presence will significantly bolster Micro, Small and Medium Enterprises (MSMEs) and strengthen Public-Private Partnerships (PPPs), which are crucial to the country’s economic transformation.
The President highlighted that the bank’s decision aligns with Kenya’s Bottom-Up Economic Transformation Agenda (BETA), adding that both parties have agreed on a comprehensive strategy to deepen their collaboration. Key areas of focus will include climate financing, green investments, and the organization of an investor conference in Nairobi later this year.
The EBRD has pledged long-term engagement with Kenya, underlining its commitment to sustainable development and inclusive economic growth.
In addition to the EBRD meeting, President Ruto held bilateral talks with Ukrainian Prime Minister Denys Shmyhal. The two leaders agreed to strengthen diplomatic ties and expand cooperation in various sectors.
Ruto stated that Kenya is working with Ukraine to increase educational opportunities for Kenyan students and address food security challenges through strategic collaboration. Discussions also touched on leveraging Kenya’s strategic location to facilitate regional distribution of Ukrainian commodities via the port of Mombasa.
Furthermore, the two nations plan to explore joint initiatives in information and communication technology (ICT) and trade, underscoring their shared interest in mutual development.
Both leaders reaffirmed their commitment to global peace and stability through multilateral diplomacy, mediation, and adherence to international law based on the United Nations Charter.
With the EBRD’s African operations headquartered in Nairobi and expanding ties with Ukraine, Kenya is positioning itself as a pivotal economic and diplomatic player on the continent.
