Kenyan President William Ruto has hailed the European Bank for Reconstruction and Development’s (EBRD) decision to establish its African continental office in Nairobi, a move set to boost economic growth across the region. The ratification process is currently under review by Kenya’s Parliament.
Speaking on the sidelines of the Fourth International Conference on Financing for Development in Seville, Spain, President Ruto emphasized that the EBRD’s presence in Nairobi will enhance support for Micro, Small, and Medium Enterprises (MSMEs) and promote Public-Private Partnerships, key pillars of Kenya’s Bottom-Up Economic Transformation Agenda (BETA). In discussions with EBRD President Odile Renaud-Basso, Ruto outlined a strategic engagement plan focusing on climate financing, green investments, and an upcoming investor conference in Nairobi later this year.
The EBRD reaffirmed its commitment to aligning with BETA, proposing a long-term partnership to drive sustainable development. The Nairobi office is expected to serve as a hub for the bank’s operations across Africa, fostering economic resilience and innovation.
ALSO READ: NIGERIA, RWANDA SIGN DOUBLE TAXATION TREATY
In a separate bilateral meeting, President Ruto and Ukrainian Prime Minister Denys Shmyhal agreed to strengthen diplomatic ties, focusing on education, food security, and trade. Ruto highlighted opportunities for Ukrainian students in Kenya and proposed leveraging Mombasa’s port for regional commodity distribution. The leaders also explored collaboration in information and communication technology (ICT) and trade to foster mutual growth.
Both nations reaffirmed their commitment to global stability through peacekeeping, mediation, and multilateral diplomacy, rooted in the United Nations Charter. These developments underscore Kenya’s growing role as a strategic partner in Africa and beyond, driving inclusive economic and diplomatic progress.
