A generator of trade flows and jobs, the Lobito strategic railway axis between the DRC and Angola will now benefit from the support of the African Development Bank (AfDB) and the African Financial Corporation (AFC). This collaboration was officially confirmed by the signing of a memorandum of understanding during the Global Gateway Forum in Brussels.
The memorandum of understanding between the AfDB, the AFC and the governments of the DRC and Angola aims to develop the full economic potential of the Lobito corridor. It includes the construction of a 1,344 km railway network linking Lobito to the DRC and Zambia, as well as the development of logistics and port infrastructure to facilitate the export of minerals such as cobalt and copper.
This project is of strategic importance, as it will secure the supply of critical minerals for the European Union and the United States. It will also contribute to regional integration and the economic emergence of the region as a whole.
The AfDB appointed AFC as project leader. The AFC will be responsible for overseeing the construction of the railway linking Luacano in Angola to Kalumbila in Zambia, which will connect to the existing network at Chingola, on the DRC border. This rail link will directly connect the continental parts bordering the Atlantic Ocean to those close to the Indian Ocean.
The ADB and AFC investment in the Lobito rail corridor strengthens transport infrastructure in the region and promotes cross-border trade. This also opens up new opportunities for job creation in the construction, logistics and mining sectors.
In conclusion, the collaboration between the AfDB, the AFC and the governments of the DRC and Angola in the development of the Lobito railway axis is a crucial step to stimulate the economy of the region. This project strengthens trade ties between countries and promotes regional integration. It also opens the way to new employment opportunities.