Kenya has formally joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member.
The membership will enable Kenya to access concessional funding for infrastructure, climate change efforts, connectivity, regional cooperation and technology-enabled projects and programmes.
The Asian Infrastructure Investment Bank is a multilateral development institution with 109 members and $100 billion capitalisation.
This was revealed even as President William Ruto met AIIB President and Board of Directors Chairman Jin Liqun and other officials at the bank’s headquarters in Beijing, China.