President William Ruto has said that Kenya has officially joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member.
Ruto made the statement on X after meeting AIIB President and Board of Directors Chairman Jin Liqun on Tuesday, September 3, 2024. The Head of State is in Asia for the Forum on China-Africa Cooperation Summit.
“Kenya has formally joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member. The membership will enable Kenya to access concessional funding for infrastructure, climate change efforts, connectivity, regional cooperation, and technology-enabled projects and programmes.
“The Asian Infrastructure Investment Bank is a multilateral development institution with 109 members and $100 billion capitalisation. Met AIIB President and Board of Directors Chairman Jin Liqun and other officials at the bank’s headquarters in Beijing, China,” Ruto said.
On the sidelines of the China-Africa forum, the president has held a number of talks, which have also included infrastructural projects.
Talks on infrastructural collaboration
“The huge infrastructure demand in Africa calls for stronger collaboration with the private sector to unlock the continent’s potential in mineral resources, renewable energy, and agriculture. In Kenya, we have established a robust institutional framework supported by incentives and a return on investment.
“Held talks with the leadership of the China Communications Construction Company led by Chairman Wang Tongzhou in Beijing, China. Discussed various projects such as the Rironi-Mau Summit-Malaba dual carriageway, the Galana-Kulalu irrigation project, the Bomas International Conference Centre and the expansion of the SGR into the region,” Ruto said.
Regional collaboration
The forum in China has also given the president a chance to interact and discuss regional issues with his fellow African Heads of State, who are also attending the summit.
“Kenya is strengthening its partnership with Congo-Brazzaville to ensure it delivers tangible benefits for our citizens, with a clear focus on trade, investment, and regional security.
“Held talks with President Denis Sassou Nguesso of Congo-Brazzaville in Beijing, China, where we are both attending the Forum on China and Africa Cooperation summit,” the president said in a separate statement on X.
