Kenya and Senegal have joined the European Bank for Reconstruction and Development (EBRD) as its newest members, increasing the total to 79, according to an official statement from the EBRD. This marks an important step as the Bank begins working in sub-Saharan Africa, with plans to support private businesses and boost steady economic growth.
Kenya and Senegal asked to join the EBRD in 2023 and 2024, and both were approved by the Bank’s Board of Governors earlier this year. Their memberships include becoming recipient countries, which means they can now receive funding and advice from the Bank. This was made possible by a 2023 update that enabled the Bank to operate in sub-Saharan Africa and Iraq.
EBRD President Odile Renaud-Basso said welcoming Kenya and Senegal is a key moment. She highlighted the Bank’s focus on starting investments in the region this year. Kenya’s National Treasury Secretary, John Mbadi Ng’ongo, called this membership a milestone that shows the world’s confidence in Kenya’s economy and reforms. Senegal’s Finance Minister, Cheikh Diba, added that joining the Bank will help Senegal build sustainable growth supported by private investment.
The EBRD now counts 77 national members plus the European Union and the European Investment Bank. The Bank helps economies in transition by providing funding, guidance, and supporting policy changes. It also works to make member countries greener, fairer, and more digital. With Kenya and Senegal on board, the EBRD opens a new chapter for development in sub-Saharan Africa.
