Ver Angola


US considers investing 250 million dollars in Lobito rail corridor

The United States is evaluating potential funding worth 250 million dollars for the Lobito rail corridor, the White House said.


In a statement issued on Saturday, the US presidency said that funding would be provided through the government agency US International Development Finance Corporation (DFC).

The investment would be part of the Partnership for Infrastructure and Global Investments initiative for low- and middle-income countries, launched by US President Joe Biden and the G7 bloc.

The Lobito project is "the first step to link and develop Angola's commercial and economic activity to the DRC [Democratic Republic of Congo] that can help promote greater investment in agriculture, digital infrastructure and expanded access to electricity", said the White House.

The US is "actively seeking additional opportunities to link the initial investments in the Lobito corridor through the continent, to Tanzania and, finally, to the Indian Ocean", the statement said.

The Lobito corridor is formed by the port of this city and the Benguela Railway, being the fastest export route for copper, cobalt and other ores to countries such as Zambia and the DRC.

Another government body, the US Agency for International Development, announced, also on Saturday, a digital payments initiative with telecom operator Africell to support Internet and mobile money services throughout the Lobito corridor.

Joe Biden's special coordinator for global infrastructure and energy security, Amos Hochstein, said in February that the US is "enthusiastic supporters" of the Lobito corridor, which will "make investments more bankable, reducing costs and increasing opportunities".

On Friday, the day that marks the 30th anniversary of the establishment of diplomatic relations between the United States and Angola, Joe Biden said that the two countries are expanding economic cooperation.

The North American president underlined "the search for additional investments through the Partnership for Infrastructure and Global Investments to build quality and sustainable infrastructures that connect Angola to global markets".

In January, the transport ministers of Angola, DRC and Zambia signed an agreement for the creation of the Lobito Corridor Transit Transport Facilitation Agency, with the aim of improving rail freight transport.


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