United States Commits $1 Billion Investment to Enhance Lobito Corridor Development
The United States of America (USA) has reaffirmed its commitment to invest a substantial one billion dollars in accelerating the development of the Lobito Corridor.
This significant announcement follows President Joe Biden’s declaration, made in collaboration with European Union leader Von der Leyen during the recent G20 meeting.
Helaina R. Matza, the Acting Special Coordinator of the Partnership for Global Infrastructure Investment (PIGI) within the US Department of State, expressed her strong optimism regarding the governments’ dedication to realizing this initiative.
Speaking during a videoconference with journalists from Angola, Zambia, the Democratic Republic of Congo, South Africa, and the USA, Matza highlighted the potential of this investment to drive positive change.
Over the next five years, the infusion of funds from the US and contributions from companies operating within the Lobito Corridor, as well as those mobilized by the partnership, is expected to create thousands of job opportunities.
This investment is also set to facilitate the integration of the Corridor’s rail link with Zambia and its expansion into the Democratic Republic of Congo (DRC).
This expansion will not only boost economic growth in the region but also enhance connectivity and trade opportunities for all stakeholders involved.
