AfDB, AFC join Lobito Corridor, Zambia-Lobito Rail Line project

Africa Finance Corporation and the African Development Bank joined with the United States, the European Union, and the govts of Angola, the DRC and Zambia to sign MoU

This aims to jointly develop the Lobito Corridor connecting northwest Zambia to the Benguela rail line in Angola and ultimately to the port of Lobito.

Helaina Matza, US: "This will enhance regional trade and growth as well as advance the shared vision of connected, open-access rail from the Atlantic Ocean to the Indian Ocean.”

President Ursula von der Leyen, EU: “The new partnerships with the Democratic Republic of the Congo and Zambia will support the development of sustainable and resilient value chains of critical raw materials.”

AFC will work with the parties to launch the feasibility and preparatory studies necessary to further prepare the infrastructure project—a step aimed to begin before the end of the year.