Remarks by Secretary of the Treasury Janet L. Yellen Ahead of Bilateral Meeting with Finance Minister Njuguna Ndung’u of Kenya

As Prepared for Delivery

Minister Ndung’u, it is a pleasure to have the opportunity to meet with you today as both of our governments prepare for President Ruto’s State Visit to Washington in May—the first by an African Head of State since 2008.

Kenya is a valued U.S. partner and a leading voice on the African continent on many of the pressing economic, financial, and climate issues that will be the focus of discussions during these Spring Meetings.

In our conversation today, I look forward to discussing the upcoming State Visit and how we can make progress on shared economic priorities.

Kenya’s economy has shown resilience to a range of shocks and pressures, and your country recently returned to international capital markets. I look forward to hearing from you about how you see the economic challenges and opportunities ahead.

Kenya has also been making good use of support from the international financial institutions and taking a leadership role in the World Bank’s IDA replenishment and at the African Development Bank.

I look forward to exchanging views on the international financial institutions, including how to strengthen the impact of the MDBs through MDB evolution. President Ruto’s convening of the Africa Climate Summit last year reinforced a key tenet of MDB Evolution, which is that addressing climate change and pursuing inclusive and resilient economic growth are mutually reinforcing goals.

I look forward to a productive conversation today and to continuing to deepen our bilateral partnership over the months ahead.

Thank you.

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