“The EU is strongly supporting the Lobito Corridor, a crucial infrastructure that will improve export possibilities for Zambia, Angola and the Democratic Republic of Congo, increase the circulation of goods and promote the movement of citizens,” a source told Lusa of the community executive.
The same source added that the EU invested “around 600 million euros” in this project and that the investment is part of the European Union’s “360-degree approach”.
“To accelerate the development of the Lobito Corridor, the EU, together with the countries [of the community bloc], under Team Europe, is working towards a more comprehensive approach […], which included the valorization of agricultural value chains, raw materials -critical raw materials, renewable energy production and its transmission, education and skills,” added a European Commission source.
In this way, the EU hopes to help the three African countries to “unlock their full potential”, as well as in “economic diversification” and job creation.
The European Union has stratified cooperation in this corridor into three areas: investment in transport infrastructure; measures to facilitate trade, economic development and transit; support long-term investment in these countries for “sustainable and inclusive economic growth”.
The completion of the Lobito Corridor will also enable trade between Europe, Asia and the rest of Africa, admitted a source from the European Commission.
In May 2023, the European Commission signed a cooperation agreement with the three countries (Angola, Zambia and the Democratic Republic of Congo) to assist investment and development of the Lobito Corridor, which connects Kabwe, in Zambia, to Lobito, in Angola .
The corridor must pass through a total of 16 locations, between the three countries.
The Lobito Corridor is the first strategic economic corridor launched under the aegis of the G7 Partnership for Global Infrastructure and Investment (PGI) in May 2023, which was followed by the signing of a joint declaration between the European Union and the United States , on the sidelines of the September 2023 G20 Summit in New Delhi, in support of infrastructure development.
In September this year, an agreement was signed placing AFC as the main promoter of the project that will connect the three African countries.
The railway line is expected to create economic benefits of approximately three billion dollars for countries and create more than 1,250 jobs during its construction and operations, according to the text presented in New York, on the sidelines of the Summit of the Future.
