Japan NEXI Signs $170M in Financial Support to Kenya at State House
On 22 June 2026, Kenya’s President William Ruto hosted a high-level Kenya-Japan Development Cooperation Meeting at the State House in Nairobi. During the Meeting, a USD 170 million (KSH 22.6B) financial facility was signed. Both sides painted this outcome as a concrete implementation of the consensus reached at the 9th Tokyo International Conference on African Development (#TICAD9) held in Yokohama in August 2025.
The Japanese delegation was led by Atsuo Kuroda, Chairman and CEO of Nippon Export and Investment Insurance (NEXI) and included Yoshizawa, Senior Manager and Deputy Head of EMEA Region at Sumitomo Mitsui Banking Corporation (SMBC), and Tomonobu Hori, a senior diplomat.
Other than President Ruto, Kenya was represented by John Mbadi, Cabinet Secretary for National Treasury and Economic Planning, Lee Kinyanjui, Cabinet Secretary for Investments, Trade and Industry.
| No. | Project | Amt KSH B |
|---|---|---|
| 1 | Kenya National Automotive Policy | 13.1 |
| 2 | Energy Efficiency | 5.0 |
| 3 | Broader Reforms and Development Agenda | 4.5 |
| TOTAL | 22.6 |
“Kenya will harness Japan’s capital, technology, and decades of industrial excellence to expand our local vehicle manufacturing capacity, placing more Kenyan-made cars on our roads.”
Kenya President William Ruto
In his speech, President Ruto defended his economic diplomacy and enumerated the recent results of engagements with Japan. He also highlighted that his Government is leaving no stone unturned to push forward the Bottom Up Economic Transformation Agenda.
The loan will be provided by a consortium of Japanese commercial banks and insured by NEXI. It has a concessional interest rate with a maturity period of seven years. It is also worth noting that the loan is denominated in Japanese Yen as Kenya seeks to move external debt away from dollar-denominated instruments.
The centerpiece of this Meeting was the confirmation of Japan’s support for building up the vehicle assembly ecosystem in Kenya. Japan specifically allocated KSH 13.1 billion to support the elaboration of the Kenya National Automotive Policy to enable a more conducive environment for the auto industry. The agreement calls for at least 30% local content to support local jobs and domestic businesses.