Lobito Corridor project receives $600 million boost, as US President, Biden, meets Hichilema, others in Angola

US President, Joe Biden, has pledged an additional US$600 million for infrastructure development along the Lobito Corridor, a critical trade and transport route connecting Angola, Zambia, and the Democratic Republic of Congo (DRC).

Zambian President Hakainde Hichilema revealed the announcement during the high-level Partnership for Global Infrastructure and Investment (PGI) Lobito Trans-Africa Corridor Summit held in Lobito, Angola.

In a Facebook post on Wednesday evening, President Hichilema described the Lobito Trans-Africa Corridor and a new rail line linking Angola to Zambia as transformative projects that would spur economic growth, job creation, and sustainable development.

Read more: Chamber of commerce sees major economic gains for Zambia from Lobito corridor project

“We are grateful to President João Lourenço and the US government for hosting the summit, where President Joe Biden announced an additional US$600 million in funding for infrastructure projects along the corridor,” President Hichilema stated.

He emphasized that the initiative reaffirms the commitment of Zambia, Angola, and the DRC to collaborate on developing the corridor.

The project is expected to reduce transportation costs to regional and global markets while driving inclusive economic progress.

On the summit’s sidelines, President Hichilema held bilateral talks with President Biden, discussing Zambia-US relations, economic progress, and democratic development.

“We emphasized the need for debt reform, ensuring countries are not held back from investing in development due to high debt servicing,” President Hichilema said.

He further reaffirmed Zambia’s commitment to working with Angola, the DRC, Tanzania, the US, and other partners to bring the vision of the Lobito Corridor to fruition, calling it a “brighter future for our people.”

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