Finance and National Planning Minister Dr. Situmbeko Musokotwane, MP, yesterday held a bilateral meeting with European Investment Bank (EIB) Vice President Mr. Karl Nehammer. The meeting took place on the sidelines of the Zambia–European Union Lobito Corridor Business Forum, scheduled to run from 13 to 14 November 2025 in Lusaka. The discussions advanced the government’s strategy to deepen partnerships with multilateral financial institutions supporting Zambia’s infrastructure-led growth agenda. The talks centered on enhancing the EIB’s role in the Lobito Corridor Development Project, which connects Angola, the Democratic Republic of Congo, and Zambia. The initiative is a cornerstone of Zambia’s connectivity and industrialisation framework, designed to transform the corridor into a modern regional trade and transport artery linking Zambia to the Atlantic coast.
During the engagement, Dr. Musokotwane emphasized that the Lobito Corridor is central to Zambia’s economic growth strategy. He said the project would improve cargo movement, stimulate regional trade, and accelerate industrial development. The Minister highlighted that the corridor presents significant opportunities to expand export capacity, support manufacturing, and strengthen the agriculture sector. He outlined three key priority areas to drive investment: mining, to expand extraction and freight capacity; value addition, to boost manufacturing competitiveness; and agriculture, to enhance agro-processing and rural productivity. Dr. Musokotwane reaffirmed the government’s commitment to Public–Private Partnership models as a vehicle for mobilizing private capital in infrastructure development. He also noted that ongoing feasibility studies would help identify financing gaps and areas for targeted intervention.
Mr. Nehammer reiterated the EIB’s strong commitment to Zambia’s infrastructure and trade goals. He affirmed that the Bank stands ready to work with the governments of Angola, the Democratic Republic of Congo, and Zambia to unlock the full economic potential of the Lobito Corridor. The EIB views the corridor as a strategic investment that aligns with its broader mission of supporting sustainable growth, trade integration, and industrial development in Africa. The meeting also reinforced the EIB’s continued support for Zambia’s fiscal and structural reform agenda. Both parties agreed that sustained collaboration would help drive long-term investment, boost competitiveness, and enhance regional connectivity.
The discussions are part of the government’s broader effort to attract sustainable investment under the Eighth National Development Plan (8NDP). Dr. Musokotwane expressed appreciation for the EIB’s partnership and its confidence in Zambia’s reform program. He noted that as Zambia transitions from stabilization to growth, cooperation with multilateral institutions such as the EIB remains vital. The Minister highlighted that EIB support complements the country’s goals to expand renewable energy, upgrade transport networks, and strengthen economic resilience. The government reaffirmed its readiness to implement bankable projects under the Lobito Corridor framework and other national programs. These efforts position Zambia as a reform-driven and investment-ready economy at the heart of Southern Africa.
The European Investment Bank remains one of Zambia’s most significant development partners, with a diversified portfolio supporting transport, energy, water, and sanitation sectors. As of June 2025, Zambia held active EIB loans valued at USD 536.4 million, with USD 287.1 million disbursed and USD 246.6 million undisbursed. The Bank’s continued engagement throughout Zambia’s debt restructuring process demonstrates strong confidence in the country’s economic management. Key projects include the Great North Road (T2) upgrade, supported by a EUR 110 million loan and a EUR 72.45 million EU grant for the Mpika–Chinsali section, and the Lusaka Power Transmission and Distribution Project, fully disbursed as of October 2025. Other operations include the Kafue–Livingstone Transmission Line, Lusaka Sanitation Project, and Zambia Water and Sanitation Project, all critical to improving infrastructure and service delivery.
The bilateral meeting between Dr. Musokotwane and Mr. Nehammer came at a pivotal moment for Zambia’s reform and investment drive. It aimed to strengthen Zambia–EIB cooperation in key sectors, explore innovative financing models, and highlight immediate investment opportunities within the Lobito Corridor. The dialogue sent a clear signal of policy stability, transparency, and reform credibility to the international community. It reaffirmed that Zambia’s partnerships with multilateral institutions remain strong, focused, and results-driven. The government continues to prioritize investment in connectivity infrastructure, trade facilitation, and regional value chains to promote inclusive growth.
Zambia’s investor outlook remains stable and encouraging. The EIB’s engagement continues uninterrupted by the country’s debt restructuring process, a positive signal of international confidence. The Bank’s portfolio is fully aligned with the government’s fiscal consolidation and infrastructure priorities under the 8NDP. Implementation risks are being addressed through proactive oversight and robust project management. The EIB’s financing complements ongoing support from the IMF and World Bank, anchoring Zambia’s transition toward sustainable and inclusive growth. The meeting reaffirmed that the EIB will remain a cornerstone partner in Zambia’s development agenda, helping mobilize additional capital, drive Public–Private Partnerships, and accelerate progress under the Lobito Corridor and other national infrastructure initiatives.