President Ruto intensifies advocacy for 17th replenishment of African Development Fund

Highlighting the transformative impact of the Bank’s Technologies for African Agricultural Transformation (TAAT) in Ethiopia, Adesina suggested that Kenya could replicate this success.

In a strategic move to secure enhanced financial support for Africa, Kenya's President William Ruto has intensified his advocacy for the 17th replenishment of the African Development Fund (ADF). During a high-profile meeting with Dr. Akinwumi Adesina, President of the African Development Bank Group, at the State House in Nairobi, discussions centered around bolstering the Fund which significantly aids low-income countries across the continent.

The meeting was timely, as Adesina was in Kenya to review the arrangements for the Bank Group’s 59th Annual Meetings scheduled for May 27-31 and to participate in the AllAfrica Media Leaders’ summit. These engagements highlight Kenya’s pivotal role in shaping economic development narratives across Africa.

At a previous gathering for the World Bank’s International Development Association, President Ruto advocated for a robust $25-billion replenishment for the ADF, a marked increase from the $8.9 billion raised during the 16th cycle in December 2022. “Kenya has greatly benefited from the resources provided by the Fund,” President Ruto remarked, citing the Last Mile Connectivity project, which has notably expanded electricity access from 2.5 million households in 2013/14 to over 10 million. He emphasized the importance of public awareness that such initiatives are enabled by ADF financing.

The discussions also ventured into other vital sectors such as agriculture and water provision. Ruto praised the African Development Bank-funded Kenya Towns Sustainable Water Supply and Sanitation program for its significant impact. Adesina reaffirmed the Bank's commitment to supporting Kenya through various financial instruments, including partial risk guarantees and credit guarantees which have successfully de-risked substantial projects in other African nations.

Highlighting the transformative impact of the Bank’s Technologies for African Agricultural Transformation (TAAT) in Ethiopia, Adesina suggested that Kenya could replicate this success. Ethiopia’s achievement in expanding its wheat cultivation dramatically, turning it into a self-sufficient wheat exporter within four years, serves as a model for potential agricultural revolution in Kenya.

Both leaders underscored the urgent need for reforming the global financial architecture to better address climate-related challenges, which have severely impacted Africa and specifically Kenya. President Ruto outlined the recent climatic adversities Kenya faced, including destructive droughts and floods that caused significant economic and human losses.

Adesina extended condolences for the devastation wrought by recent floods and highlighted the establishment of a Climate Action Window under the ADF’s 16th replenishment. This initiative, the first of its kind among concessional finance institutions, aims to mobilize substantial resources for emergency support, climate adaptation, and reducing debt risk related to climate investments.

As Nairobi prepares to host the upcoming Annual Meetings at the Kenyatta International Convention Centre, the spotlight remains on the pivotal role of international financial cooperation in fostering sustainable development across Africa.