President William Ruto has hailed the decision by the European Bank for Reconstruction and Development (EBRD) to set up its first African office in Nairobi, describing the move as a significant boost to Kenya’s economic development agenda.

In remarks issued late Sunday following a meeting with EBRD President Odile Renaud-Basso in Seville, Spain, Ruto said the new regional hub will deepen economic ties and enhance support for micro, small, and medium-sized enterprises (MSMEs), alongside fostering stronger public-private partnerships.

“This marks a key milestone in our growing relationship with the EBRD,” said the president.

“The Nairobi office will be instrumental in scaling up support for MSMEs and strengthening collaboration between the public and private sectors, both of which are crucial for sustainable economic growth.”

The announcement was made on the sidelines of the Fourth International Conference on Financing for Development, where President Ruto is leading Kenya’s delegation.

Headquartered in London, the EBRD is a global multilateral development bank with a mandate to promote open and sustainable market economies. Its investments typically focus on private sector enterprises, often in partnership with commercial financiers.

Though it has global membership, including countries from Africa, Asia, North America, and Australia, the EBRD operates only in designated regions.

The United States is its largest single shareholder, and Nigeria recently became its newest member in February 2025.

During their meeting, Ruto and Renaud-Basso also discussed enhancing cooperation in green investment and climate financing.

Plans are underway to hold an investor conference in Nairobi later this year as part of broader efforts to attract capital and foster climate-resilient infrastructure.

President Ruto is in Seville for the high-level global forum that brings together world leaders to forge a new path for financing sustainable development.

According to State House Spokesperson Hussein Mohammed, the president will co-chair a key session at the summit and hold bilateral meetings with Spanish Prime Minister Pedro Sánchez and King Felipe VI.

Discussions will focus on expanding partnerships in renewable energy, youth empowerment, and climate action.