Juan Carlos Alvarez said, in a meeting with the press, that this transnational railway infrastructure, which connects Angola, the Democratic Republic of Congo (RDCongo) and Zambia, with prospects of extending to Tanzania, could "become a regional integration project transformer".
"We want the Government's portfolio of projects that are being financed by the World Bank to fully contribute to achieving this objective", said Juan Carlos Alvarez, at the meeting aimed at addressing "The World Bank's Engagement and Perspectives on the Little Wolf Corridor".
The official highlighted that the BM does not finance the physical infrastructure, but supports it through the "Diversifica Mais" Project, with 300 million dollars, to help develop economic activity along the Lobito Corridor.
According to Juan Carlos Alvarez, "Diversifica Mais" involves financing basic infrastructure necessary to place mineral, agricultural and other products within the Lobito Corridor, such as roads, water and energy.
Recently, the WB and the Government went to Benguela to check the progress of the project locally, reiterating that the Lobito Corridor "has the potential to leave development along the railway".
"We want to be part of this development. The World Bank's portfolio (of financing for projects in Angola) has grown a lot in recent years, now we are at 4.6 billion dollars, but in different sectors", said Juan Carlos Alvarez without specifying the amounts already disbursed.
The BM's objective, added Juan Carlos Alvarez, is to have guarantees "that the implementation of this Government project [Lobito Corridor] is carried out comprehensively, that it is not carried out in isolation".
Juan Carlos Alvarez highlighted that other projects supported by the WB can be used to boost the social economic development of cities along the corridor, specifically projects in the areas of agriculture, health and education.
"It is important that all our teams – health, education, digital development, governance, development of urban cities along the Lobito Corridor, Diversifica Mais – can work integrally and together to have a large-scale impact", he recommended.
The importance that has been given internationally to this railway infrastructure, which connects Angola, the Democratic Republic of Congo (DRC) and Zambia, with plans to extend to Tanzania, was high with the visit to the country, this week, of the American president, Joe Biden.
Joe Biden, who on Wednesday witnessed in Benguela, the south coast of the country, where the Port of Lobito and the Benguela Railway are located, a shipment of copper coming from the DRC to the United States of America, said that the International investment in the Lobito Corridor exceeded six billion dollars, including the private sector, regional development banks and G7 partners.
