Kenya has formally joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid up member.

On the day Kenya presented documents of ratification and ascension on Tuesday, President William Ruto was at the bank’s headquarters and said the membership will enable the country to access concessional funding for key development programmes. ‘

“Kenya is very proud of joining a family of very distinguished members,” he said. “We are looking forward to engagements with the bank for development of infrastructure and improvement of the welfare of our citizens,” he added.

He cited infrastructure, climate change efforts, connectivity, regional cooperation and technology-enabled projects and programmes as the opportunities for financing.

The President met AIIB President and Board of Directors Chairman Jin Liqun and other officials at the bank’s headquarters in Beijing, China.