Biden Announces $560 Million Boost for Africa’s Lobito Corridor Project

During a landmark visit to Africa, US President Joe Biden toured the Lobito Corridor railway project alongside Zambian President Hakainde Hichilema, Angolan President João Lourenço and the Democratic Republic of Congo (DRC) President Felix Tshisekedi. The project aims to connect Angola’s port city of Lobito to Zambia and the DRC, with a future extension through Tanzania, enhancing regional integration and economic opportunities. Biden announced a $560 million funding package, bringing US investment to over $4 billion. With further contributions from the G7 and regional development banks, the total has been raised to $6 billion.

President Biden praised the future corridor as a "gateway to shared prosperity," highlighting its ability to reduce cargo transport times from 45 days to just 45 hours and linking Angola and Zambia for the first time. The railway, vital for exporting critical minerals like cobalt and copper, will improve clean energy technology and transform southern Africa into a major global exporter.

Leaders from Zambia, Angola and the DRC praised the initiative. Hichilema emphasised the transformative potential of the Corridor, describing it as a vital opportunity for regional and global economic integration. He highlighted the project’s capacity to increase investment and trade, unlocking significant opportunities for participating countries. He stated that the “trans-Africa Corridor will boost economic growth, job creation and development”.

While no timeline has been announced for the project’s completion, the Corridor represents America’s commitment to Africa’s infrastructure development, long-term economic growth, regional integration and sustainability. Biden highlighted the project’s significance, explaining that “the Lobito Corridor is more than a railway; it’s a gateway to shared prosperity for Angola, the DRC, Zambia, and beyond.”