Ruto pitches Sh5 trillion debt-free fund to foreign diplomats

President William Ruto during a New Year diplomatic address at State House in Nairobi. [PCS]

President William Ruto has urged diplomats and international investors to support Kenya’s Sh5 trillion ($40 billion) national development plan, pitching established funds as a way to finance major infrastructure and social programmes without raising taxes or adding debt.

Ruto spoke on Monday, February 9, at State House in Nairobi during a New Year diplomatic address to heads of mission and international organisations.

He emphasised that the National Infrastructure Fund and a Sovereign Wealth Fund will be key vehicles to mobilise long‑term capital for priority projects.

“We are resolved to mobilise these resources without adding unsustainable debt or placing an additional tax burden on our citizens,” said Ruto.

The funds were approved by Cabinet last December as part of a broader strategy to shift Kenya toward an investment‑led growth model, reduce reliance on public borrowing and position the country for long‑term transformation.

 The National Infrastructure Fund, backed with a Sh5 trillion framework, is designed to attract private investment into roads, energy, irrigation and other priority sectors.

The Sovereign Wealth Fund aims to secure inter‑generational savings and buffer the economy against external shocks.

Ruto said the 10‑year agenda underpins efforts to expand productive capacity, modernise the road network, scale up energy generation, build irrigation infrastructure and boost education and research funding to 2 per cent of gross domestic product.

The president highlighted recent gains under his Bottom‑Up Economic Transformation Agenda, noting expanded universal health coverage and strengthened food security.

More than 29.3 million people now register for health coverage under the Social Health Authority, part of efforts to deepen social protection.

Ruto said agricultural productivity improved in several sectors after interventions, including digital farmer registration, fertiliser access and irrigation support.

“We have stabilised food supplies and boosted rural incomes,” he noted.

On education, he said Kenya completed the transition to the Competency‑Based Education system and hired 100,000 teachers over three years.

Ruto’s pitch comes amid broader efforts to attract investment and sustain economic momentum, following challenges in public finances and public resistance to taxation.

On foreign policy, Ruto said Kenya will deepen diplomatic ties, strengthen regional integration as chair of the East African Community and chair the Common Market for Eastern and Southern Africa Authority, and host major summits including the Africa‑France Summit and the EAC‑COMESA‑SADC Tripartite Summit.

He said Kenya continues to support peace efforts in the Great Lakes, Horn of Africa and beyond, and will transition its security mission in Haiti to a United Nations–backed structure.

Ruto also reiterated support for reforming global financial architecture and the United Nations to reflect Africa’s voice better, saying exclusion from permanent representation on the UN Security Council “undermines the legitimacy of the United Nations.”

Kenya will host the Our Ocean Conference in June 2026 to mobilise commitments on marine conservation and the blue economy, he said.