President William Ruto has welcomed the decision by the European Bank for Reconstruction and Development (EBRD) to establish its African office in Nairobi, terming it a strategic step toward deepening economic cooperation and driving growth.

In a statement late Sunday after a meeting with EBRD President Odile Renaud-Basso on the sidelines of the Fourth International Conference on Financing for Development in Seville, Spain, President Ruto said the move will boost support for micro, small, and medium enterprises (MSMEs), as well as strengthen public-private partnerships.

“We value our growing partnership with the European Bank for Reconstruction and Development. This is a strategic move that will enhance support for MSMEs and promote public-private partnerships as key drivers of economic growth,” Ruto said.

EBRD is a London-headquartered multilateral developmental investment bank that uses investment as a tool to build market economies. It invests in private enterprises, together with commercial partners.

Like other multilateral development banks, the EBRD has members from all over the world across North America, Africa, Asia, and Australia, with the biggest single shareholder being the United States.

It, however, only lends regionally in its countries of operations. EBRD is owned by 75 countries and two European Union institutions, the newest shareholder being Nigeria since February 2025.

The two leaders also agreed on a series of engagements including climate financing, promotion of green investments, and plans to host an investor conference in Nairobi later this year.

Ruto is on an official visit to Seville, Spain for the high-level global forum convening world leaders to define new principles for development financing. 

He will advocate for the reviving of multilateralism to address long-standing issues like extreme poverty, rising inequalities and economic turmoil, climate change, and biodiversity loss. 

Per a Sunday statement by State House Spokesperson Hussein Mohammed, Ruto will also co-chair a high-level session during the summit and hold bilateral talks with several heads of state, including Spanish Prime Minister Pedro Sanchez and King Felipe VI, aimed at deepening bilateral cooperation in areas such as clean energy, youth empowerment, and climate resilience.