Ruto roots for reforms in Bretton Woods institutions
Kenya has made remarkable progress in transitioning to a green economy
President William Ruto is rooting for major reforms in the Bretton Woods institutions in a bid to ensure there is fair play in debt restructuring, climate financing, and development support for Africa.
Ruto urged his esteemed partners to back reforms in these institutions in order to have a more equitable and just economic system. “Kenya supports efforts to reform the global financial architecture, ensuring fair debt restructuring, climate financing, and development support,” he said.
Speaking while meeting all ambassadors and high commissioners in Kenya at State House,Nairobi, Ruto said with 54 member states, which comprises the 28 per cent of the United Nations’ membership, Africa must have a stronger voice to uphold fairness and equality in global decision-making.
He said Kenya’s efforts to secure concessional funding through the IDA (International Development Association) window of the World Bank, championed during the IDA replenishment summit in Nairobi resulted in raising $100 billion (KSh 1 2.9 trillion) — the highest amount ever.
Ruto said the inaction and geopolitical divisions on issues related to climate change only heightens the risks that every country now faces adding that climate threats do not recognize borders, they demand a collective global response.
President Ruto urged all the nations and world leaders to recognize climate action as an imperative for survival and shared responsibility. He said Kenya was committed to collaborating with like-minded nations to push the climate agenda forward.
He said Kenya has made remarkable progress in transitioning to a green economy, with over 93 per cent of its grid electricity generated from renewable sources such as geothermal, wind and solar.
“Our National Tree Growing Restoration Campaign, targeting 15 billion trees by 2032, is on course. In 2024, our efforts led to the planting and growing of 750 million trees. As we approach COP30, we call on international partners to honor their climate financing commitments,” he said.
The president assured the diplomatic community that Kenya would continue leading by example, in advocating equitable climate financing and ensuring that Africa’s voice remains central in global climate discussions.
He lauded the contributions the diplomats have made in Kenya as invaluable in trade, investment, health, education, technology transfer, infrastructure development, capacity building, and security. Kenya deeply values the expertise and resources you bring to our shared efforts.
Ruto urged the diplomats to strengthen their partnerships with Kenya to ensure that the country’s collective efforts translate into meaningful progress for our people and the world.
