The general directorate of the African Development Bank (ADB) for the Central Africa sub region will henceforth be situated in Cameroon. This was the decision arrived at by the institution before the holding of the bank’s annual meeting in South Korea.
After holding its first meeting and prior to their departure to South Korea where the African Development Bank held its annual meeting on the 21-25th Mai 2018, the President of the African Development Bank Akinwumi Adesina announced to the press that the general directorate of the African Development Bank for Central Africa that was once in Cote d’ Ivoire will henceforth be transferred to Cameroon. He explained that this is to ensure a better proximity with the people of the sub region and guarantee an effectiveness of their job on the field. According to authorities of the Ministry of Economy Planning and Regional Development, the choice of Cameroon was not an easy task as each member country within the region did a lot of lobbying to outplay the other. It is therefore a diplomatic victory for Cameroon. The Director General of ADB for Central Africa Ousmane Dore is delighted to have Cameroon as the host, he acknowledged that Cameroon is a hub of activities in several domains in the Central African sub region and a key player in the multiple multinational road integration projects. The ketta-Djoum road project, the Bamenda-Enugu corridor are just examples.
The delocalization of the banks institutions falls in line with the decentralization process launched by the president of the bank, Adesina, when he took over leadership. It is an advanced model of decentralization whereby banking operations carried out on the field and decisions arrived at by the powers that be, or strategic issues will be closer to member countries through close dialogue. The sub regional directorate Ousmane Dore conceded that coordinating the Central African Sub region from Abidjan has not been an easy task, so the move to Cameroon is a great relief for the team as it will facilitate and ease organization of work. He added that the procedure to finance projects always commence at the regional level so the presence of this structure in Cameroon will help to decrease the enormous time that was spend to mount projects before submitting them at the bank’s headquarters.
It’s now official that Cameroon is to host the services of the sub regional directorate of the ADB, next move is negotiations between the Cameroon government and the ADB to choose the appropriate town.