Italy Commits $270m for Lobito Corridor

The Italian Government has committed 270 million United States dollars for the development of the Lobito Corridor project linking Zambia, Angola and the Democratic Republic of Congo via railway.

Africa Finance Corporation AFC President SAMAILA ZUBAIRU also disclosed that the Italian Government has further given AFC an additional 50 million dollars to support the work done on the project.

Mr ZUBAIRU says the African Development Bank has also pledged to support the Lobito Corridor project.

He said this during a press briefing held in Washington DC alongside  Finance Minister SITUMBEKO MUSOKOTWANE and Angola’s Transport Minister  RICARDO DE ABREU.

Mr ZUBAIRU said the project has attracted both continental and external support making it a lucrative partnership which will link the region and contribute to increased economic intra Africa trade .

And Dr. MUSOKOTWANE said with the mine expansion plans by DRC and Zambia , the Lobito Corridor will play a key role in transporting critical minerals.

He said the railway line will also create  jobs and enhance regional integration and economic development.

Dr MUSOKOTWANE also thanked the US and the Trump administration for the support it has committed to render to the development of the Lobito Corridor .