Biden Announces $600 Million in New Financing for African Railway Infrastructure
President Joe Biden is concluding his trip to Angola with a significant announcement of $600 million in new financing for a multi-country railway, a move aimed at boosting U.S. investment in critical minerals infrastructure across Africa and countering China’s growing influence on the continent.
This latest announcement builds on the $553 million pledged earlier this year by the U.S. International Development Finance Corporation (DFC) for the Lobito Trans-Africa Corridor, which will connect the Central African copperbelt to the Angolan coast.
The new funding will support not only rail infrastructure but also sectors like agriculture, clean energy, supply chains, health, and digital access, according to the White House.
“The United States understands that how we invest in Africa is just as important as how much we invest in Africa,” Biden said during his visit to Lobito, a port city on Angola’s Atlantic coast.
“To help Africa lead the way, we need more capital, more infrastructure to address these real solutions. That’s why we’re here today.”
During a speech in Luanda, Biden, known as “Amtrak Joe” for his strong support of rail travel, humorously claimed to be the most “pro-rail guy” in the U.S.
His trip has highlighted the importance of the Lobito project, a railway overhaul designed to accelerate the transport of critical minerals like cobalt from the Democratic Republic of Congo and Zambia for use in technologies such as electric vehicles.
In Lobito, Biden toured the port and met with companies involved in the project, including SunAfrica, U.S.-owned mobile network Africell, and Acrow Bridge, a Pennsylvania-based infrastructure firm.
He also engaged with African leaders, including Angolan President João Lourenço, Zambian President Hakainde Hichilema, DRC President Felix Tshisekedi, and Tanzanian Vice President Philip Isdor Mpango.
Biden’s visit comes as the U.S. seeks to catch up with China, which has built extensive influence in Africa over the past decades, particularly in the mining sector, through significant infrastructure lending.
Angola, one of China’s largest borrowers, has been working to reduce its reliance on China under President Lourenço, although the country’s oil industry—accounting for roughly 90% of Angola’s export revenue—remains heavily tied to China, with over half of its output sold there.
The U.S. has provided $2.9 billion in financing to Angola for energy, infrastructure, and telecommunications, according to the White House.
Biden has linked this new infrastructure investment to his administration’s landmark Bipartisan Infrastructure Law.
Biden promised to visit Africa after hosting the 2022 U.S.-Africa Leaders Summit in Washington. However, his trip has been overshadowed by his late Sunday announcement that he would pardon his son, Hunter Biden, and the recent election of Donald Trump.
