President Biden Pledges $600 Million for African Rail Project

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On the final day of his visit to Angola, President Joe Biden announced an additional $600 million investment in a significant multi-country rail project in Africa, bringing the total U.S. investment to $4 billion. He emphasized that “Africa is the future,” highlighting the continent’s growing importance on the global stage.

The Lobito Corridor Project

The Lobito Corridor project aims to refurbish approximately 2,000 kilometers of railway, enhancing access to essential minerals such as cobalt and copper from Congo and Zambia. These minerals are crucial for electric vehicle batteries and clean energy technologies. The initiative, with a total international investment of $6 billion, is seen as a strategic move by the U.S. to counter China’s economic influence in the region.

African leaders, including Congo’s President Félix Tshisekedi and Zambia’s President Hakainde Hichilema, have praised the project for its potential to spur economic and social transformation, create jobs, and provide faster routes for exports. The Biden administration views the Lobito Corridor as a model for similar initiatives worldwide, aiming to enhance U.S.-Africa engagement and compete with China’s Belt and Road Initiative.