Despite potential spending cuts, the U.S. has reiterated its dedication to funding the Lobito rail corridor, a strategic project aimed at transporting critical minerals from Central Africa to Western markets.The U.S., through the International Development Finance Corporation (DFC), has pledged a $550 million loan for the railway. This project is considered crucial for countering Chinese influence over copper and cobalt supplies in the region.
Concerns arose following President Trump’s proposed spending cuts, sparking fears about the future of projects like the Lobito corridor, which spans Angola, the Democratic Republic of Congo, and Zambia. However, U.S. Ambassador to Angola, James Story, dispelled these concerns during a recent tour of the project. He stated, “Not at the moment. All the projects with the DFC and also with the Exim Bank are there and we’re working on them.”
The Lobito Atlantic Railway consortium, led by Trafigura, Mota-Engil, and Vecturis SA, holds a 30-year concession for the corridor. The project’s first phase involves refurbishing a 1,300 km railway in Angola and extending it into the DRC’s mining region. A second phase, currently under study, would connect Zambia to Lobito. Lobito Atlantic Railways CEO Francisco Franca indicated that DFC financing contracts are in their final stages, with signing expected within months.
EU Ambassador to Angola, Rosário Bento, echoed the U.S. commitment, noting the West’s continued interest in the corridor. She emphasized, “The United States has an interest in the region and is already receiving shipments of raw materials that pass through the Lobito corridor.”
