US Pledges $250 Million for Lobito Corridor Project
The United States government has allocated a substantial amount of US$250 million towards the development of the Lobito Corridor, which encompasses Zambia, Angola, and the Democratic Republic of Congo (DRC).
During the G7 Leaders summit held in Japan on May 18 to 19, 2023, US President Joe Biden announced this commitment, according to Helaina Matza, the US Deputy Special Presidential Coordinator for Global Infrastructure and Energy.
Matza further revealed that President Biden has also pledged a significant financial support of US$30 billion to assist emerging economies across the world.
Matza shared this information during her visit to the office of Transport and Logistics Minister Frank Tayali in Lusaka.
Additionally, US Ambassador to Zambia Michael Gonzales stated that Matza’s visit is a follow-up to the meeting between President Hakainde Hichilema and Vice President Kamala Harris during Hichilema’s visit to the USA in March of this year.
Minister Tayali emphasized that once the Lobito corridor project is completed, it will facilitate trade between Zambia and its neighboring countries. He emphasized the importance of establishing robust connectivity infrastructure, including rail, waterways, air, and road networks, to drive economic development in the region.
