The US Development Finance Corporation commits $553M for the Lobito railway upgrade, part of a $6B initiative to create a mineral export route from DRC to Angola's Atlantic coast.
The US Development Finance Corporation (DFC) has approved a landmark $553 million loan for the Lobito Corridor railway project, the single largest DFC transaction in Africa to date.
The Lobito Corridor is a $6 billion infrastructure initiative to create a critical mineral export route from the DRC's copper-cobalt belt through Zambia to Angola's Atlantic coast port of Lobito. The US government has committed $4 billion to the project.
Key project details:
The corridor will dramatically reduce transportation costs for DRC mineral exports, currently among the highest in the world due to poor infrastructure. Current export routes through South Africa or Tanzania add significant cost and time.
For investors, the Lobito Corridor represents a transformative infrastructure project that will:
The project also includes social infrastructure investments in communities along the railway corridor, including schools, health facilities, and clean water systems.
Construction is underway with full operation expected by 2029.
