Cameroon will host the Regional Office of the African Development Bank, AfDB.
An agreement to host the institution was signed between the Minister of External Relations, Lejeune Mbella Mbella, on behalf of the government of Cameroon and the vice President of the African Development Bank, Khaled Sherif for his institution.
Both personalities penned their signatures to the agreement during a ceremony in Yaounde, this Tuesday 2nd July 2019 attended by members of government, officials of the bank and heads of the diplomatic missions accredited to Yaounde.
Khaled Sherif said Cameroon was chosen to host the regional office of the bank because the Cameroonian economy is advancing in wealth creation and general growth.
For the pas five years the gross domestic product, GDP has grown on an average of 5% per annum, which he described as an achievement.
He said the presence of the AfDB in Cameroon shows that the country is is on the path of sustainable growth.
Khaled Sherif also saluted the government of Cameroon for offering land for the construction of the complex to host the banks regional office.
On his part, the Minister of External Relations hailed the confidence that bank has bestowed on Cameroon to host the institution. He said government will spare no effort in promoting the bank’s activities.
The AfDB starting supporting projects in Cameroon in 1972, the first being the construction of the airport terminal in Douala.
It has also made available 3.4 billion US dollars, estimated at 1973 billion CFA F in development aid to Cameroon in the last 25 years.
Some 41 operations are currently on going to enhance Cameroon’s development financed to the tune of 1.4 billion euros, estimated at 918 billion CFA.
The Regional Development and Business Office of the African Development Bank that will be construed in Cameroon will cover the entire Central African sub region.