During his first official visit to Europe, President William Ruto marked a significant achievement by announcing that the European Bank for Reconstruction and Development (EBRD) will set up its African headquarters in Nairobi, Kenya.
According to a statement released by State House on Monday, June 30, the President praised the EBRD’s move, saying it will boost support for Micro, Small, and Medium Enterprises (MSMEs) in Kenya.
He also noted that the decision will encourage stronger partnerships between the public and private sectors, ultimately driving sustainable economic growth in the country.
President Ruto held a meeting with EBRD President Odile Renaud-Basso on the sidelines of the Fourth International Conference on Financing for Development in Seville, Spain.
The two leaders discussed the rollout of a comprehensive engagement plan aimed at deepening EBRD’s involvement in Kenya’s economic development.
The plan includes various areas of collaboration such as support for climate change financing, promotion of eco-friendly investments, and organizing an international investor conference in Nairobi later in the year.
The bank also expressed strong support for Kenya’s Bottom-Up Economic Transformation Agenda (BETA), proposing a long-term, structured partnership that aligns with the country’s development goals.
Currently, the agreement between the Kenyan government and EBRD is undergoing the ratification process in Parliament, which is the final step before its official implementation.
The EBRD is an international development bank that focuses on building strong, sustainable market economies by investing in private enterprises alongside commercial partners.
With its main headquarters in London, the bank is owned by 75 countries and European Union institutions. The United States is the bank’s largest individual shareholder. Notably, Nigeria became the newest member of the EBRD in February 2025.
Although the EBRD has a global membership that includes countries from North America, Africa, Asia, and Australia, the bank only lends money within its official regions of operation.
Earlier on the same day, President Ruto also held a meeting with Ukrainian Prime Minister Denys Shmyhal. The two leaders explored ways to strengthen diplomatic relations between Kenya and Ukraine for the mutual benefit of both nations.
Their discussion covered several key areas, including expanding education opportunities—especially for students—improving food security, and enhancing regional trade.
They also talked about using the port of Mombasa for distributing important goods across the region. In addition, both leaders agreed to deepen cooperation in the fields of information and communication technology (ICT) and commerce.
They further emphasized the importance of working together to promote peace and security at both regional and global levels.
This would be achieved through enhanced peacekeeping efforts, mediation processes, and active participation in multilateral diplomacy.
Join Gen Z New WhatsApp Channel To Stay Updated On time
https://whatsapp.com/channel/0029VaWT5gSGufImU8R0DO30
