Last week Italy approved the provision of 320 million dollars with the aim of investing in the construction of railway infrastructure in the Lobito corridor, in order to promote the sustainable development of projects to be implemented along the railway line.
According to a press release that ANGOP had access to on Monday, the European country decided to join the efforts of the United States of America (USA) and the European Union (EU), aiming to promote the sustainable development of the corridor that connects Angola, Zambia, Democratic Republic of Angola (DRC) and other countries in Southern Africa.
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The document states that the approval of the aforementioned investment results from a decision by the meeting of the leaders of the most industrialized countries called G7 and the private sector of this organization, held on the 13th of this month.
Quoted in the press note, the chairman of the Cabinet Council of Italy and of the G7, Giorgia Meloni, who announced the availability of the investment, said that the money approved will be destined to build a new 800-kilometer railway section.
The note adds that the US is also committed to making another fund worth USD 250 million available for the technological and logistical modernization of the corridor, including advanced transportation and safety management systems, adding that this investment aims to ensure that the railway line is efficient, safe and technologically advanced.
In the same vein, the United Kingdom also announced a fund of over USD 50 million to support projects on clean energy and transmission infrastructures, in addition to geological surveys along the Lobito Corridor.
The document states that these surveys are essential to identify and effectively use the natural resources present in the region, promoting sustainable development in Africa.
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At the time, the G7 considered the Lobito Corridor as an ambitious project, one that is seen as a study for economic development, facilitating the transport of goods and promoting connectivity between regional and international markets.
Germany, Canada, the United States of America, France, Italy, Japan and the United Kingdom are among the seven most industrialized countries in the world.
Lobito Corridor attracts investments
The Lobito Corridor, which will facilitate the movement of people and goods between Southern African countries, includes four strategic axes for investment namely electrical infrastructure, improvement of the mobile telephone network, expansion of 5G connection and the construction of 180 bridges in Angola, in addition to improving the Local Railways.
With this, it is expected that the Lobito Corridor will also significantly simplify the movement of goods between Zambia and global markets, via the Atlantic Ocean, reducing costs and transit time.
Improved infrastructure will attract investment in logistics, mining, agriculture and related sectors, creating jobs and boosting local economies.
Regional integration
The project promotes regional cooperation and economic integration between Angola, DRC and Zambia, fostering stability and economic growth.
Additionally, there is a strong approach to sustainable practices and the use of clean energy to minimize environmental impact, aligning with global sustainable development goals.
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The Lobito Corridor is positioned to become a major key to boosting trade and economic growth in Southern Africa. With the continued support of international partners and a focus on sustainable practices, the future of the corridor is promising, with the new railway section expected to be presented by the end of 2025.
This update reaffirms the commitment of Angola and its partners to the transformation of the Lobito Corridor into a world-class infrastructure, capable of promoting economic development and improving the quality of life of populations in the region.
