Italy Commits $270m for Lobito Corridor

The Italian Government has committed 270 million United States dollars to developing the Lobito Corridor project, which will link Zambia, Angola, and the Democratic Republic of Congo via railway.

The investment was announced during a press briefing in Washington, DC, attended by Africa Finance Corporation (AFC) President Samaila Zubairu, Zambia’s Finance Minister Situmbeko Musokotwane, and Angola’s Transport Minister Ricardo de Abreu.

In addition to this key investment, Africa Finance Corporation (AFC) President Samaila Zubairu told reporters that the Italian Government has provided the AFC with an additional 50 million dollars to support the project's implementation.

Mr Zubairu said the project has attracted both continental and external support, making it a lucrative partnership that will link the region and contribute to increased economic intra-African trade.

Musokotwane emphasised the corridor's strategic role in transporting critical minerals, particularly amid mine expansion plans in Zambia and the DRC.The Finance Minister told reporters that the railway line will create jobs and enhance regional integration and economic development.

Dr Musokotwane also thanked the US and the Trump administration for the support they have pledged for the development of the Lobito Corridor.