The United States (US) has reaffirmed its commitment to supporting economic development in Angola through increased investment in the Lobito Corridor project. Samantha Power, Administrator of the United States Agency for International Development (USAID), visited Angola recently to underscore US support for the initiative.
The Lobito Corridor is a vital infrastructure project that aims to connect the Democratic Republic of Congo and Zambia to regional and global markets through Angola’s Lobito port. The corridor encompasses the 1,344-kilometer Benguela railway that stretches from Lobito to the Angolan-Congolese border.
Public-Private Partnership Drives Progress
A key aspect of the Lobito Corridor project is the successful public-private partnership involving the “Lobito Atlantic Railway” consortium. This 30-year privatization agreement has spurred significant private-sector investment into the corridor.
“Public tenders for private sector participation have already secured hundreds of millions of dollars in investment for the region,” remarked Samantha Power during her visit. “This investment will only continue to grow.”
USAID has pledged $5 million to support the project. These funds will be directed towards empowering female farmers in four provinces along the corridor. Additionally, USAID funding will promote transparency in public procurement and strengthen collaboration with civil society organizations and media outlets.
Ricardo Abreu, Angola’s Minister of Transport, echoed the importance of the project in driving economic growth. “Strategic investments like the Lobito Corridor are essential for reviving the Angolan and African economies,” he said. “These projects create jobs and promote economic and social well-being.”
US-Angola Partnership
The Lobito Corridor project exemplifies the strong partnership between the US and Angola. Samantha Power emphasized this enduring relationship during her visit.
“US-Angola relations are at an all-time high,” she said. “Both countries are committed to working together to achieve shared prosperity and development.”
Source: Africanews.com
