The President of Kenya, William Ruto, and Dr. Akinwunmi Adesina, President of the African Development Bank Group (ADB), met at the State House in Nairobi on Thursday. Dr. Adesina was in Kenya to assess preparations for the Bank Group’s 59th Annual Meetings, scheduled to take place from May 27th to May 31st.
During the meeting with Dr. Adesina, Ruto called for the need for Africa to replenish the African Development Fund (ADF). While speaking at the meeting, he highlighted the positive impact of the funds in Kenya. Ruto reaffirmed his support for the replenishment of the bank’s funds. In April, Ruto called for a substantial $25 billion replenishment of the ADF, which he said will help provide support to 37 low-income countries across Africa. He said this while speaking at the World Bank’s International Development Association meeting held in Kenya.
“I will continue to strongly advocate for the 17th replenishment of the ADF,” President Ruto told Dr. Adesina.
“Kenya has greatly benefited from the resources made available by the Fund,” he continued.
According to Ruto, the Last Mile Connectivity project, which has successfully brought electricity to over 10 million households since 2013/14, was one of the major projects built with bank funds.
“It is making a significant difference in people’s lives, and we want to continue investing in it,” Ruto stated.
The two leaders also discussed Kenyan and African interests, especially increasing investments in other crucial sectors, such as agriculture. Ruto also stressed the need for clean water provision and commended the ADB-funded Kenya Towns Sustainable Water Supply and Sanitation program for its positive impact on millions of people. Dr. Adesina reiterated the bank’s commitment to working with the Kenyan government to de-risk lending to agriculture through instruments such as partial risk guarantees and credit guarantees. He cited successful implementations of these tools in other countries, such as Egypt, Benin, and Côte d’Ivoire.
Dr. Adesina spoke extensively about Kenya’s potential, stating that it can replicate Ethiopia’s agriculture success by utilizing the Bank’s Technologies for African Agricultural Transformation (TAAT) initiative.
The story of Ethiopia has been remarkable and has become a model for African states. Ethiopia’s agriculture revolution peaked in just four years. Today, Ethiopia has become self-sufficient and a net exporter of wheat after expanding its cultivated wheat area from less than 5,000 hectares to 2 million hectares. They also discussed the urgent need for reforming the global financial architecture to address challenges like climate change, which has a significant impact on Africa.
Ruto highlighted Kenya’s experiences with extreme weather. He mentioned the devastation of the country’s infrastructure and the death of about 2.5 million livestock by flood, leading to a loss of $1.5 billion in the economy.
Dr. Adesina expressed his condolences to President Ruto and the people of Kenya for the losses and destruction caused by the floods. He also highlighted the establishment of the Climate Action Window under the 16th replenishment cycle of the ADF, which aims to mobilize between $7 billion and $13 billion to support countries in times of emergency, climate adaptation, and debt distress reduction. He also expressed his gratitude to Ruto and his government for their commitment to hosting the Bank Group’s 59th Annual Meetings at the Kenyatta International Convention Centre.
He was accompanied by several Bank officials, including the Chief Economist and Vice President for Economic Governance and Knowledge Management, the Secretary General, the Executive Director for Ethiopia, Eritrea, Kenya, Rwanda, the Seychelles, South Sudan, Somalia, Tanzania, and Uganda, and the East Africa Regional Director General.
