US and EU Rally Behind Lobito Corridor Project for Trade Enhancement
The United States and the European Union have expressed their support for the development of the Lobito Corridor, a collaborative effort between Zambia, Angola, and the Democratic Republic of Congo aimed at promoting trade.
In a joint statement released by the USA and the EU, they commended the recent commitment made by Angola, Zambia, and the Democratic Republic of Congo regarding the project.
This announcement was made during the G20 Summit’s Partnership for Global Infrastructure and Investment event in India.
As detailed on the White House website, the European Union and the United States are collaborating to advance the Corridor’s development by initiating feasibility studies for the expansion of a new Greenfield rail line connecting Zambia and Angola.
This partnership with the three African nations will bring together financial resources and technical expertise to expedite the development of the Lobito Corridor.
This includes investments in digital connectivity and the enhancement of agricultural value chains, ultimately boosting regional competitiveness.
The United States and the European Union believe that the Zambia-Lobito railway line will lead to reduced transport times, lower logistics costs, and a reduced carbon footprint for exporting metals, agricultural products, and other commodities.
