African Development Bank: Cameroon To Host Central African Regional Office

The Vice President for Regional Development, Integration and Business Delivery Complex at the African Development Bank, Khaled Sherif says, “We are in Cameroon to announce that we have selected Cameroon as the headquarters of our Regional Office for Central Africa.”

He made the announcement at the Star Building in Yaounde on September 17, 2018 after he led the bank’s delegation members to a working session with Prime Minister, Head of Government, Philemon Yang who was accompanied by some cabinet ministers.

The working session besides focusing on Cameroon- African Development Bank relations, more importantly laid emphasis on the modalities for the location of the office. The bank’s office will bring in over 100 staff to Yaounde.

Khaled Sherif explained that the choice of Cameroon, “Speaks of the confidence we have for the Cameroonian economy and the confidence that we have in vision 2035 as outlined by the Head of State.” He said the African Development Bank was a partner in implementing vision 2035 that is intended to make Cameroon an emerging country. Concerning the Cameroonian economy, the African Development Bank’s senior official said “We see that the economy is progressing very well.”

This, he said, was because they noticed that for the last five years the economy has maintained a 4.9 per cent of the growth in Gross Domestic Product (GDP) and this has been accomplished at the period of the oil shocks and the internal security crises that have been rocking Cameroon. He further said, “It speaks of the resilience of the economy that...