The African Development Bank will in the days ahead establish its central headquarters in Cameroon’s political capital, Yaounde.

This is the substance of an agreement signed this morning at the Ministry of external relations between the government of Cameroon and the African Development Bank.

Signing in for Cameroon was the Minister of external relations Lejeune Mbella Mbella and the Vice President of the African Development Bank, Khaled Sherif signed on behalf of the banking institution.

According to Khaled Sherif, Cameroon was chosen in the central African Sub region as site for the implantation of the ADB regional headquarters because it suits the established criteria, one of which include hospitality.

“The government of Cameroon freely gave us a piece of land and we intend to work here over the long run” Khaled said at the end of the signing ceremony.

The presence of the African Development Bank’s central headquarters in Yaounde reports say will enhance the development of the economy in many domains as well as cooperation ties between both parties.