DFC approves Sh162bn debt-for-food-security swap with Kenya
"We also appreciate DFC for agreeing to proceed with the $1 billion debt-for-food security swap to allow us to replace costly existing debt with lower-cost financing," the President said via his social media platform. - Kenya breaking news | Kenya news today | Capitalfm.co.ke..
✨ Key Highlights
President William Ruto announced that the United States International Development Finance Corporation (DFC) has approved a Sh162 billion (approximately $1 billion) debt-for-food-security swap with Kenya, aiming to replace expensive existing loans with more affordable financing.
- The swap will ease Kenya’s repayment burden by replacing costly debt with lower-cost, long-term financing.
- The DFC, led by Chief Executive Officer Ben Black, also expressed interest in expanding its portfolio in Kenya across key sectors including food security, infrastructure, energy, and ICT.
- A DFC representative will be based in Nairobi starting January 2026.
- President Ruto was in Washington, D.C., for the signing of the DRC–Rwanda Peace Agreement, at the invitation of U.S. President Donald Trump.
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President Ruto Secures Health and Debt-Swap Deals in Washington D.C. - December 2025
President William Ruto arrived in Washington, D.C., to witness a peace agreement signing between the Democratic Republic of Congo and Rwanda. During the visit, Kenya secured a Health Cooperation Framework Agreement with the U.S., which provides $1.6 billion (Ksh207 billion) over five years for the healthcare system. In addition, an agreement was reached for a debt-for-food swap to boost food security. The U.S. International Development Finance Corporation (DFC) approved a Sh162 billion (approximately $1 billion) debt-for-food-security swap to replace expensive loans. Another account of the deal reported it as USD 1 billion (Ksh129 billion) after a meeting between President Ruto and DFC CEO Ben Black.
