President Ruto meets World Bank chief to discuss development financing at G7 Summit
via Tuko2 min read
President William Ruto met with World Bank Group president Ajay Banga during the G7 Summit in France to discuss development financing and reforms to global financial systems. The Kenyan delegation, including Prime Cabinet Secretary Musalia Mudavadi, reaffirmed Kenya's commitment to working with the World Bank to advance national priorities. President Ruto welcomed the World Bank's support for reforms to the international financial architecture aimed at expanding access to capital and strengthening resilience for developing countries. This meeting occurred as the World Bank prepares to disburse a KSh 96.9 billion loan to Kenya by June 30, following progress on reform conditions. Kenya had previously sought emergency funding in April to mitigate economic impacts, but this request was rejected. President Ruto also used the G7 platform to advocate for stronger Africa鈥揼lobal partnerships and increased access to affordable credit for developing nations, emphasizing a desire for partnership based on mutual benefit and shared prosperity.
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This summary was AI-generated from a story originally published by Tuko.
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