President Ruto Advocates for Boosting AfDB’s Ksh3.3 Trillion Development Fund

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In a bid to advance the development aspirations of African nations, President William Ruto has urged for the replenishment of the Ksh3.3 trillion African Development Fund by the African Development Bank (AfDB). During a meeting with AfDB President Dr. Akinwumi Adesina at State House, Nairobi on May 9, President Ruto emphasized the need for a substantial increase in the fund to benefit the 37 African member countries.

“I will continue to advocate strongly for the 17th replenishment of the African Development Fund. Kenya has greatly benefited from the resources provided by the Fund,” stated President Ruto, highlighting the importance of the fund in driving economic growth and development initiatives.

The current 16th replenishment, which raised a record $8.9 billion in December 2022, is set to conclude next year, as confirmed by the AfDB. President Ruto underscored the fund’s impact on projects like the Last Mile Connectivity program, which has brought electricity to over 10 million households in rural areas.

Acknowledging the transformative power of the fund, President Ruto expressed the government’s commitment to investing more to accelerate progress and improve livelihoods. The AfDB is set to convene a meeting in Nairobi, assessing Kenya’s readiness to host the upcoming 59th Annual Meetings scheduled from May 27 to 31 at the Kenyatta International Conference Centre (KICC). The meetings will focus on Africa’s transformation, the AfDB Group, and global financial architecture reform.

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