The United States has unveiled plans to extend the 1,744 kilometres Lobito Corridor, a critical transport route that links Angola, The Democratic Republic of Congo (DRC) and Zambia to Tanzania’s Indian Ocean shores.
The Lobito rail corridors seek to link the rich mines of Northern Zambia, southern DRC to Angola’s port of Lobito on the Atlantic Coast, after months of talks with the three countries.
The railway would connect African countries to the global markets and enhance regional trade and economic growth in Tanzania and its neighbouring Countries.
These talks were finalized after Helaina Matza, the U.S. acting special coordinator for the Partnership for Global Infrastructure and Investment, ended a weeklong trip to the DRC and Tanzania.
She said the trip focused on “relaunching US partnership with the DRC and engaging with the Tanzanian government and private sector on next steps towards extending the economic corridor to the Indian Ocean.
The project will be financed with $250 million supplied by the U.S. International Development Finance Corporation, The African Development Bank has committed $500 million while Italy $320 million towards the project.
The Lobito Atlantic Railway previously pledged to invest $455 million in Angola, much of which will go towards procuring 35 locomotives and 1,555 wagons to improve transport.
