World Bank and IFC Establish Regional Headquarters in Nairobi, Strengthening Kenya’s Role as an Economic Hub

Nairobi, Kenya – In a significant development for Kenya’s positioning as a regional economic hub, the World Bank and the International Finance Corporation (IFC) have announced plans to base their Regional Vice Presidents for Eastern and Southern Africa in Nairobi. This move underscores Kenya’s growing influence in the region and is expected to bolster its economic and diplomatic stature.​

President William Ruto welcomed this decision, highlighting the longstanding partnership between Kenya and the World Bank, which spans over five decades. He noted that this strategic move would transform Nairobi into a central hub for the region and the African continent, accommodating a substantial World Bank community of approximately 870 staff.

The World Bank has been a dependable development finance partner of Kenya for more than 50 years. It has been supporting our country’s journey to becoming an upper middle-income country by 2030 through initiatives to reduce poverty and promote shared prosperity.

The government,… pic.twitter.com/syXFl5gz3b

— William Samoei Ruto, PhD (@WilliamsRuto) March 20, 2025

The World Bank has been instrumental in supporting Kenya’s development agenda, particularly its ambition to attain upper middle-income status by 2030. Through various initiatives aimed at poverty reduction and promoting shared prosperity, the Bank’s involvement has been pivotal in sectors such as infrastructure, education, healthcare, and social protection. ​

Victoria Kwakwa, the World Bank’s Regional Vice President for Eastern and Southern Africa, met with President Ruto at State House in Nairobi to discuss the institution’s plans to centralize its regional operations in the Kenyan capital. Kwakwa, a Ghanaian national with over 30 years of experience in economics and development, oversees the Bank’s engagement with 26 countries, managing an active portfolio of 381 operations totaling $81 billion. ​

The decision to establish these regional offices in Nairobi not only signifies confidence in Kenya’s stability and strategic importance but also aligns with the country’s Vision 2030 development blueprint. This initiative aims to position Kenya as a preferred destination for international institutions, joining others like the United Nations Environment Programme (UNEP) and UN-Habitat, further cementing its role as a pivotal player in regional and continental affairs.

This development is anticipated to enhance collaboration between Kenya and these global financial institutions, facilitating more tailored and effective interventions to address the region’s development challenges. It also presents an opportunity for Kenya to leverage this proximity to attract more investments, drive economic growth, and improve the livelihoods of its citizens.

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