PHOTOS: Ruto rubs shoulders with world leaders at G7 2024 Summit

President William Ruto is among leaders from the Global South who are attending the G7 2024 Summit at Borgo Egnazia in the city of Fasano in Apulia, Italy.

Every year, the leaders of the world’s wealthiest nations gather under the G7 umbrella to discuss global matters.

The heads of the Group of 7 nations — Britain, Canada, France, Germany, Italy, Japan and the United States — started their annual summit on Thursday, June 13, 2024, at a luxury hotel in Puglia on the southern Italian coast.

This year the summit’s host, Prime Minister Giorgia Meloni of Italy, extended invitations to other prominent figures, including Kenya’s own President Ruto, Pope Francis, Indian Prime Minister Narendra Modi, Jordan’s King Abdullah II, and the leaders of Ukraine, Brazil, Argentina, Turkey, the United Arab Emirates, Algeria, Tunisia, and Mauritania.

Additionally, the summit saw participation from the secretary-general of the United Nations and the heads of major financial institutions such as the World Bank, the International Monetary Fund, the African Development Bank, and the Organisation for Economic Co-operation and Development (OECD).

In his address at the G7 Summit on Friday, Ruto urged the developed nations to facilitate access to concessional, long-term, and flexible loans for developing countries.

Reflecting on the outcomes of the Africa Climate Summit, he emphasized two key propositions adopted by the African Union (AU): climate-positive growth leveraging Africa’s renewable energy, mineral wealth, and agricultural potential, and a restructured international financial architecture to alleviate sovereign debt burdens and enable investment in resilient growth and public goods.

He emphasized the difficult choices many nations face between repaying creditors and investing in their own economies and people.

“Far too many countries are forced to choose between repaying creditors and investing in their economy and people,” Ruto stated.

He highlighted the recent Nairobi-Washington vision for debt, development, and sustainable finance, launched jointly with President Biden.

“Three weeks ago, President Biden and I launched the Nairobi-Washington vision for debt, development and sustainable finance. I urge the international community and all G7 members to support this initiative to enable countries to pursue ambitious investments in their own development while addressing global challenges and mitigating debt,” Ruto said.

President Ruto also called on the G7 to advocate for the reform of the multilateral financial system.

“Africa also urges the G7 to advocate strongly for the reform of the multilateral financial institutional system, to give the Global South, and in particular, Africa, access to concessional, long-term and agile finance, and a greater voice and role in decision-making,” Ruto stated.

The G7 2024 summit in Apulia served as a platform for meaningful discussions on global financial reform and sustainable development, with President Ruto’s participation highlighting the critical issues facing developing nations.