Kenya is set to become the home of the African continental office of the European Bank for Reconstruction and Development (EBRD), a major move that signals deepening ties between the global lender and one of Africa’s fastest-growing economies.
President William Ruto confirmed the development following high-level talks with EBRD President Odile Renaud-Basso at the Fourth International Conference on Financing for Development held in Seville, Spain. The ratification process for the office’s establishment is currently before the Kenyan Parliament.
The President hailed the decision as a strategic partnership that will unlock new avenues for financing Kenya’s Bottom-Up Economic Transformation Agenda (BETA), especially in supporting Micro, Small and Medium Enterprises (MSMEs), green investment, and public-private partnerships.
“The decision by EBRD to open its African office in Nairobi is a strong endorsement of Kenya’s economic potential and reform agenda,” Ruto said. “This partnership will go a long way in expanding access to climate finance, promoting green investment, and creating jobs through support for MSMEs.”
During their meeting, President Ruto and Renaud-Basso also agreed on plans to host an investor conference in Nairobi later this year as part of a broader engagement strategy.
The EBRD has also announced that Benin, Côte d’Ivoire and Nigeria have been granted recipient country status, with operations expected to begin after a treaty amendment takes effect in July 2025. Ghana, Kenya and Senegal are in the final stages of membership approval, after which they will be eligible to become countries of operation.
From 2025 to 2030, the bank plans to invest in up to six sub-Saharan African countries. The EBRD, which has 75 national shareholders alongside the European Union and the European Investment Bank, focuses on strengthening private-sector growth, sustainable development, and long-term economic transformation.
