Zambian President Hakainde Hichilema and U.S. President Joe Biden have strengthened bilateral ties with a landmark pledge of US$600 million from the United States for infrastructure projects along the Lobito Corridor. This latest commitment brings the total U.S. investment in the corridor to over US$4 billion.
Transformative Investment for Africa
President Biden announced that the investment will fund critical projects, including:
- Modernising agricultural infrastructure.
- Developing high-speed mobile networks.
- Revamping the Lobito Atlantic Railway.
This initiative is part of a broader effort to enhance connectivity, boost trade, and create sustainable economic opportunities across the region.
Economic Growth and Development
President Hichilema highlighted the Lobito Trans Africa Corridor as a game-changer for regional development. The new rail line connecting Angola to Zambia is expected to:
- Drive economic growth.
- Create jobs.
- Reduce transportation costs for regional and global markets.
“This corridor is of vital importance to opening up our countries, our regions, and even the global economy,” said President Hichilema.
Bilateral Talks and Economic Progress
On the sidelines of the summit, President Hichilema held bilateral discussions with President Biden. The talks focused on:
- Strengthening Zambia-U.S. relations.
- Advancing Zambia’s economic progress.
- Promoting democratic governance.
Both leaders emphasized the importance of debt reform to ensure countries can prioritize development investments over debt servicing.
Regional Collaboration
President Hichilema reaffirmed Zambia’s commitment to working with Angola, the Democratic Republic of Congo (DRC), Tanzania, the United States, and other partners to realize the full potential of the Lobito Corridor.
This collaborative effort is expected to usher in a new era of sustainable development, connectivity, and economic empowerment for the people of Zambia and the surrounding regions.
