{"id":118755,"date":"2024-05-14T20:32:08","date_gmt":"2024-05-14T20:32:08","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund"},"modified":"2024-05-14T21:27:55","modified_gmt":"2024-05-14T21:27:55","slug":"ruto-seeks-sh3-3tr-refill-of-african-development-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund","title":{"rendered":"Ruto seeks Sh3.3tr refill of African Development Fund"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>President William Ruto has intensified his campaign for a substantial replenishment of the African Development Fund, underscoring the transformative impact of the Fund-backed projects in Kenya.<\/p>\n

The Fund is the concessional window of the African Development Bank (AfDB) Group.<\/p>\n

President Ruto reaffirmed his advocacy during a meeting with AfDB Group president Akinwumi Adesina, at State House, Nairobi last Thursday.<\/p>\n

Adesina was visiting Kenya to assess preparations for the Group\u2019s 59th Annual Meetings scheduled for May 27- 31.<\/p>\n

In his address at the World Bank\u2019s International Development Association (IDA) meeting in Nairobi last month, President Ruto called for a substantial $25 billion(Sh3.3 trillion) 17th replenishment of the Fund which supports 37 low-income countries in Africa.<\/p>\n

The ongoing 16th replenishment, which raised a historic $8.9 billion (Sh 1.1 trillion) in December 2022, is set to conclude next year.<\/p>\n

\u201cI will continue to make a strong case for the 17 th replenishment of the African Development Fund. Kenya has benefitted from resources made available to us by the Fund,\u201d said President Ruto.<\/p>\n

He cited the Last Mile Connectivity project which has expanded from 2.5 million households connected to the national electricity grid in 2013-14, to more than 10 million.<\/p>\n

\u201cIt is making a difference in people\u2019s lives and we want to invest more to add momentum,\u201d Ruto said.<\/p>\n

The discussions between the two leaders also included increased investments in other crucial sectors like agriculture, a top priority for the Kenyan government.<\/p>\n

President Ruto also emphasised the need for clean water provision and praised the AfDB-funded Kenya Towns Sustainable Water Supply and Sanitation programme for its positive impact on millions of people.<\/p>\n

Adesina reiterated the Bank\u2019s commitment to collaborate with the Kenyan government in de-risking lending to agriculture through instruments like partial risk guarantees and credit guarantees.<\/p>\n

He highlighted their successful implementation in several other countries.<\/p>\n

\u201cWe have used partial credit guarantees to support the issuance of $500 million Panda bond by Egypt. We also used this tool to de-risk a EUR 350 million sustainable development loan for Benin,” he said.<\/p>\n

AfDB also did the same for Co\u0302te d\u2019Ivoire to support the mobilisation of EUR 533 million in financing for strategic environmental, social and governance projects.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. President William Ruto has intensified his campaign for a substantial replenishment of the African Development Fund, underscoring the transformative impact of the Fund-backed projects in Kenya. The Fund is the concessional window of the African Development Bank (AfDB) Group. President Ruto reaffirmed his advocacy during a meeting with AfDB Group president Akinwumi […]<\/p>\n","protected":false},"author":84,"featured_media":118754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12,7204],"tags":[6857,7003,544],"class_list":["post-118755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nRuto seeks Sh3.3tr refill of African Development Fund - kenya<\/title>\n<meta name=\"description\" content=\"President William Ruto has intensified his campaign for a substantial replenishment of the African Development Fund, und ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruto seeks Sh3.3tr refill of African Development Fund\" \/>\n<meta property=\"og:description\" content=\"President William Ruto has intensified his campaign for a substantial replenishment of the African Development Fund, und ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-14T20:32:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-14T21:27:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1715705635.576665.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ruto seeks Sh3.3tr refill of African Development Fund\",\"datePublished\":\"2024-05-14T20:32:08+00:00\",\"dateModified\":\"2024-05-14T21:27:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\"},\"wordCount\":378,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1715705635.576665.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-seeks-sh3-3tr-refill-of-african-development-fund\",\"name\":\"Ruto seeks Sh3.3tr refill of African Development Fund - 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