President William Ruto and the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, have held talks on setting up the bank’s African continental office in Nairobi, Kenya.

President William Ruto welcomed this decision and the ratification process for this move is currently before Parliament and is expected to be discussed on Tuesday.

This development marks a strategic step towards supporting Micro, Small and Medium Enterprises (MSMEs) and enhancing Public-Private Partnerships (PPPs), which are key to Kenya’s economic growth.

During their meeting, President Ruto and the EBRD President agreed on a comprehensive engagement plan that will include:
• Support for climate financing,
• Promotion of green investments, and
• Hosting an investor conference in Nairobi later this year.

Additionally, the EBRD affirmed its alignment with Kenya’s Bottom-Up Economic Transformation Agenda (BETA) and proposed a structured, long-term partnership.

The discussions took place during the Fourth International Conference on Financing for Development, held in Seville, Spain.