European Investment Bank Shows Interest in Financing Zambia-Lobito Railway Line
The European Investment Bank (EIB) has shown keen interest in providing financial support for the Zambia-Lobito railway line project. EIB’s Vice President, Thomas Ostros, recently expressed the bank’s commitment to the initiative, pending the completion of feasibility studies by the Africa Development Bank (AfDB).
During a closed-door meeting with Zambia’s President, Hakainde Hichilema, Mr. Ostros shared his optimism about the Zambia-Lobito railway project, emphasizing its viability and the potential for EIB involvement.
The project, which aims to establish a railway connection between Zambia and Lobito, Angola, holds strategic importance for enhancing regional transportation and trade in Southern Africa.
The EIB’s interest is a positive development that could bolster the project’s progress and ultimately benefit the region’s economic growth.
Once the AfDB concludes its feasibility studies, the European Investment Bank will make a formal decision regarding its participation, marking a crucial step forward in this critical infrastructure endeavor.
This collaboration between EIB and Zambia underscores the commitment to fostering economic development and improving transportation links in the region.
