NAIROBI, Kenya, Mar 20 – President William Ruto has offered to host World Bank and International Finance Corporation Regional vice-presidents for Eastern and Southern Africa in Nairobi.
This followed talks with World Bank Vice-President for Eastern and Southern Africa Victoria Kwakwa at State House, Nairobi.
President Ruto described the move as a major win for Kenya, reinforcing the country’s growing influence as a regional economic and diplomatic powerhouse.
“The World Bank has been a dependable development finance partner of Kenya for more than 50 years,” the President noted.
Accompanied by the World Bank Vice-President for Eastern and Southern Africa, Victoria Kwakwa, Bank’s Country Director for Kenya, Qiamiao Fan, Kwakwa briefed the Head of State on the World Bank’s plans to centralize its regional operations in Nairobi.
“This will make our capital city a central hub in our region and Africa and will host a huge World Bank community of 870 staff,” read apart in the statement.
The World Bank has been instrumental in supporting Kenya’s development priorities through major infrastructure, education, healthcare, and social protection projects.
Its funding has contributed to Kenya’s push to achieve upper middle-income status by 2030, a key target under the Vision 2030 development blueprint.
Currently, Kenya benefits from a World Bank project portfolio valued at over $8 billion, covering critical sectors such as transport, energy, agriculture, digital transformation, and climate resilience.
The decision to base the World Bank and International Finance Corporation (IFC) regional vice-presidents in Nairobi marks a significant step in bolstering Kenya’s role as a hub for international institutions, joining others like the UNEP and UN-Habitat.
Source: capitalfm
