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AFC: Lobito corridor was one of the most important projects in developing countries in 2023

The International Finance Corporation (AFC) announced this Thursday that 2023 was the year in which its activity produced the most impact in developing countries, highlighting the Lobito corridor as one of the most important projects.

: Expansão

"Historic initiatives included the first wind farm in Djibouti, with AFC being the pioneering promoter in this country that aims to be the first in Africa completely dependent on renewable energy, the Lobito corridor railway project, with AFC also being the main promoter, together with the United States, the European Union and the governments of Angola, the Democratic Republic of Congo and Zambia to mobilize industry and connect the Atlantic and Indian oceans", reads the statement sent to Lusa.

In the document, which presents a 15.3 percent increase in 2023 profit, to 329.7 million dollars, with a 17.3 percent expansion in assets, to 12.34 billion dollars, the AFC emphasizes that last year "was the most impactful ever, with an unprecedented expansion of projects and investments in areas ranging from energy, transport, minerals, food and textiles to climate resilience".

Quoted in the statement, AFC President and Executive Director, Samaila Zubairu, stated: "At the heart of our mission is the commitment to ensuring impactful solutions for Africa, and this guides every investment we make; AFC's impact is evident in the our solutions-oriented approach and our unwavering commitment to implementing transformative projects in African infrastructure projects, such as the Red Sea Power wind farm in Djibouti, or the Lobito transport corridor, which are changing the landscape, enhancing sustainable development for local communities and improving the economic trajectory of countries".

Last year and at the beginning of this year, the Corporation expanded its presence in Africa, encompassing three new Member States, including the Portuguese-speaking São Tomé and Príncipe, in addition to Ethiopia and Burundi, for a total of 43.

The African Finance Corporation is a multilateral financing institution, owned by Member States and created in 2007 to boost private investment in infrastructure in Africa, with 43 members and invested 12.7 billion dollars, approximately 11.6 billion euros since then, according to the information available on the website.


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