On the sidelines of his first meeting in Europe, President William Ruto welcomed the decision by the European Bank for Reconstruction and Development (EBRD) to establish its African headquarters in Nairobi.
In a statement by the State House on Monday, June 30, the president noted that this move would not only strengthen support for Micro, Small and Medium Enterprises (MSMEs) but also promote public-private partnerships to drive economic growth.
Ruto held talks with the EBRD President Odile Renaud-Basso on the sidelines of the Fourth International Conference on Financing for Development in Seville, Spain, about the implementation of this strategy.
The two agreed on a comprehensive engagement strategy, including support for climate financing, the promotion of green investments, and the organisation of an investor conference in Nairobi later this year.
Reportedly, the bank also reaffirmed its alignment with the Bottom-Up Economic Transformation Agenda (BETA) and proposed a structured, long-term engagement.
The ratification process of the agreement is currently before Parliament.
EBRD is a multilateral developmental investment bank that uses investment as a tool to build market economies, investing in private enterprises together with commercial partners.
Headquartered in London, the bank is owned by 75 countries and the European Union institutions. Its biggest single shareholder in the United States and its newest member is Nigeria, which joined in February 2025.
Although it has members all across North America, Africa, Asia and Australia, it only lends regionally in its countries of operation.
Earlier in the day, President William Ruto met with Ukrainian Prime Minister Denys Shmyhal to strengthen diplomatic ties with the European nation for the mutual benefit of both nations.
Among the sectors they discussed was the expansion of educational opportunities, particularly for their students and addressing food security challenges.
They also explored ways to support the regional distribution of key commodities through the port of Mombasa, cooperation in information and communication technology (ICT) and trade, as well as a shared commitment to promoting regional and global stability through peacekeeping, mediation, and multilateral diplomacy.
DCI Addresses Arrest of Missing Activist Breaking News
Shot Hawker Dies Breaking News
