Ruto Secures Ksh 38Billion In India
Two weeks following the acquisition of loans amounting to Ksh1.8 trillion from the World Bank and Ksh142.8 billion from the International Monetary Fund, along with the recent approval of an extra Ksh12.3 billion loan from the African Development Bank (AfDB), President William Ruto succeeded in obtaining a Ksh38.3 billion loan from the Indian government specifically designated for the enhancement of the nation’s agricultural industry.
During his current 72-hour official trip to India, President William Ruto entered into agreements by signing five Memorandums of Understanding (MOUs) alongside Indian Prime Minister Narendra Modi.
These agreements cover various economic sectors, including Trade, Agriculture, Security, and Foreign Relations.
“I am confident that President Ruto’s visit to India will not only strengthen bilateral ties but will give new momentum to our engagement with Africa,” India’s Prime Minister Narendra Modi said in a statement shortly after the meeting.
Prime Minister Modi expressed a strong interest in bolstering India’s relationships with African nations, aligning with its strategic plan that has led to significant diplomatic progress in the continent over the past decade.
Therefore, Kenya stands to gain significantly as both nations collaborate in shared areas of importance.
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President Ruto and Modi also agreed to strengthen collaboration in counter-terrorism efforts aimed at addressing the increasing global insecurity.
From his end, Ruto extended congratulations to Modi for orchestrating the G20, highlighting similarities between that event and his own success in garnering acclaim for effectively arranging the Africa Climate Summit earlier in the same year.
“I share a lot in common with the Prime Minister of India on what we need to do, especially those of us from the Global South, on matters to do with the reform of the international financial architecture, to make it much fitter for purpose and to ensure that it serves everybody equally and in a balanced and democratized manner,” Ruto stated after the meeting.
Ruto stated that hosting the G20 Modi represented a significant victory for Africa since it propelled the interests of the continent’s 1.4 billion inhabitants forward during the conference.
While on the State visit, Ruto honored Mahatma Gandhi by placing a wreath at his resting place in Rajghat, New Delhi.
Ruto arrived in Delhi on Monday, December 4. He is in the country at the invitation of President Droupadi Murmu.
Ruto Secures Ksh 38Billion In India
