Biden Announces Major Investment in Africa’s Lobito Corridor Railway

President Biden’s $600M pledge to Africa’s Lobito Corridor railway marks a bold step toward regional development and U.S. engagement in Africa’s mineral-rich economies. This was reported by the railway transport news portal Railway Supply.

Lobito Corridor: Biden’s Strategy to Counter China in Africa

President Biden has committed $600M to Africa’s Lobito Corridor railway project, aiming to transform the region. During his Angola visit, Biden emphasized Africa’s untapped potential, declaring, “Africa is the future.”

The Lobito Corridor, spanning Angola, Zambia, and Congo, will refurbish 800 miles of rail lines. This initiative seeks to enhance U.S. influence in a region rich in cobalt and copper, vital for electric vehicles and clean energy technologies.

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Biden compared the project to America’s transcontinental railroad, predicting that it will reduce cargo transit times from 45 days to under 45 hours. The $4B U.S. investment in the project underscores its importance as a cornerstone of Africa’s development.

Congo’s President Felix Tshisekedi praised the project’s job creation potential, while Zambia’s President Hakainde Hichilema highlighted its economic opportunities. Biden’s visit included a tour of Lobito’s port facilities, showcasing the project’s significance for international trade.

The U.S. views the Lobito Corridor as a countermeasure to China’s growing influence in Africa. While China invests heavily in infrastructure under its Belt and Road Initiative, the U.S. prioritizes sustainable development through private sector partnerships.

Biden’s announcement of Congo’s $553M loan for additional upgrades further solidifies the Lobito Corridor’s role in regional growth. Officials describe the project as a model for fostering long-term economic stability across Africa.

Biden concluded his visit by expressing enthusiasm for the corridor’s completion, envisioning it as a game changer for Africa’s economic landscape.

Source: www.latimes.com

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