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Kenya to inject Sh13.2bn in AfDB, two other African multilateral lenders
President William Ruto makes his speech during the official opening of the 59th Annual Meetings of the African Development Bank Group and the African Development Fund at the Kenyatta International Convention Centre in Nairobi on May 29, 2024.
Kenya will increase its shareholding in three key African financial institutions, including the African Development Bank (AfDB), by $100 million (Sh13.2 billion) as a show of confidence in efforts to solve the continent’s problems.
President William Ruto on Wednesday said at the opening ceremony of the AfDB annual meetings in Nairobi that the extra capital injection would also go to the Cairo-headquartered African Export-Import (Afrexim) Bank, and the Bujumbura-based Trade and Development Bank (TDB).
