WASHINGTON (Chatnewstv.com) — The United States and the European Commission on Thursday affirmed a joint commitment to inject investment into the Lobito Corridor infrastructure project, aiming to boost economic growth and stability across the Great Lakes region of Africa.
In a Dec. 4 “Declaration of Intent,” the two entities highlighted the corridor as a “transformative” project essential for enhancing regional connectivity and securing critical mineral supply chains. The corridor will link the Democratic Republic of the Congo (DRC) to the Atlantic Ocean port of Lobito in Angola.
The statement, released by the U.S. Office of the Spokesperson, noted that the joint focus is on “creating the conditions necessary for increased U.S. and EU investment” across the region, recognizing that “economic development is a cornerstone of long-term stability.”
The U.S. government and the European Commission declared their intention to work closely with African partners and private sector leaders to “rehabilitate and modernize” the corridor, which is expected to open new avenues for two-way trade between Central Africa, the United States, and Europe.
“By linking the Democratic Republic of the Congo (DRC) to the Atlantic Ocean port of Lobito in Angola, the Lobito Corridor will open new avenues for two-way trade between Central Africa and the United States and Europe,” the statement said.
The declaration also acknowledged recent private sector investment proposals to the DRC government for its portion of the corridor. The U.S. and EU stated they “stand ready to discuss possible ways to finance proposals that would ensure synchronicity with the ongoing rehabilitation on the Angolan side of the Corridor to maximize the efficiency and success of the project.”
They concluded by declaring their intention to “remain fully aligned and coordinated” to ensure the corridor’s success, which they believe “will secure more transparent supply chains and sustained investment from the region.”
