- Kenya will be home to the African office of the EBRD, boosting its position as a regional economic hub.
- President Ruto confirmed the move after talks with EBRD leadership in Spain.
- The partnership is expected to support small businesses, green projects, and job creation.
- Parliament is reviewing the agreement to formally approve the office setup in Nairobi.
Kenya is set to welcome the African office of the European Bank for Reconstruction and Development (EBRD), in what is being seen as a key moment for both the country and the wider region. The announcement was made after President William Ruto met with EBRD President Odile Renaud-Basso during a global development forum in Seville, Spain.
The plan to set up the Nairobi office is now before Parliament for approval. Once ratified, it will make Kenya the base for EBRD’s operations across the continent, a move that reflects growing trust in the country’s economic direction.
President Ruto said the partnership would help fund Kenya’s economic priorities, especially under the Bottom-Up Economic Transformation Agenda (BETA). He highlighted the potential to boost micro, small and medium enterprises (MSMEs), promote green growth, and encourage joint projects between the public and private sectors.
Besides Kenya, the EBRD also plans to start operations in Benin, Nigeria, and Côte d’Ivoire after a scheduled treaty change in July 2025. Ghana and Senegal, along with Kenya, are in the final steps of full membership approval, which would allow them to benefit directly from bank investments.
Between 2025 and 2030, the EBRD aims to work in up to six African countries, focusing on helping private businesses grow, promoting climate-friendly initiatives, and supporting long-term development. The bank’s shareholders include 75 countries, the European Union, and the European Investment Bank.
