THE United States of America (US) and European Union(EU) have teamed up to help accelerate a partnership among Angola, Zambia and the Democratic Republic of Congo ( DRC) towards development of the Lobito Corridor.
The move by the US and EU will help upgrade critical infrastructure across sub-Saharan Africa to unlock the enormous potential of the region.
The US and EU on the margins of the partnership for Global Infrastructure and Investment event at the G20 in India, welcomed the commitment by the three African countries to develop the Lobito Corridor and have pledged to help accelerate this.
The partnership will combine financial resources and technical know-how to accelerate the Lobito Corridor development, including investments in digital access and agricultural value chains that will increase regional competitiveness.
The two countries as an immediate next step, will support the Governments in launching pre-feasibility studies for the construction of the new Zambia-Lobito railway line from eastern Angola through northern Zambia.
Zambia, Angola and DRC recently made a commitment to develop the Lobito Corridor connecting southern Democratic Republic of the Congo and northwestern Zambia to regional and global trade markets via the Port of Lobito in Angola.
“To accelerate this work in partnership with the three African countries, the European Union and the United States are teaming up to support the development of the Corridor, including by launching feasibility studies for a new greenfield rail line expansion between Zambia and Angola.”
“This represents a powerful evolution of the Partnership element of the Partnership for Global Infrastructure and Investment with a collaborative approach that could be replicated in other strategic corridors around the world,” read the statement.
In teaming up, US and the EU partnership will upgrade critical infrastructure across sub-Saharan Africa to unlock the enormous potential of this region.
“We are excited to join forces to generate economic benefits with our partners in Angola, the Democratic Republic of the Congo and Zambia.This announcement shows PGI and Global Gateway at work, bringing partners together to finance multibillion dollar projects that will help create local jobs, decrease the carbon footprint and improve local economies,” read the statement.
The US and EU reiterated that the partnership builds on the initial U.S.-led support to refurbish the railway section from the Lobito port in Angola to the DRC.
The two partner countries outlined that once transport infrastructure connecting all three countries is fully operational, the Corridor will enhance export possibilities for Zambia, Angola and the Democratic Republic of the Congo, boost the regional circulation of goods, and promote the mobility of citizens.
“By significantly reducing the average transport time, the new railway will lower the logistics costs and carbon footprint of exporting metals, agricultural goods, and other products, as well as for future development of any mineral discoveries,” read the statement.
The United States and the European Union plan to explore cooperation in three specific areas: i) transport infrastructure investments; ii) measures to facilitate trade, economic development and transit; and iii) support to related sectors to fuel inclusive and sustainable economic growth and capital investment in Angola, Zambia and DRC in the longer term.
(Mwebantu, Sunday, 10th September, 2023)