Official U.S. government press releases or statements confirming additional investments

U.S. Invests $560M in Lobito Corridor for African Trade, Mining Exports, and Clean Energy

Dec 8, 2024, 04:41 AM

The United States has announced a $560 million investment in the Lobito Trans-African Corridor, a strategic rail and economic project aimed at enhancing trade and mining exports in Africa. The project, part of the U.S. Partnership for Global Infrastructure and Investment, seeks to strengthen regional connectivity and economic growth. President Joe Biden recently visited the Lobito Atlantic Railway to observe copper exports destined for the United States. The initiative is seen as a counterbalance to China's influence in Africa, though experts note that China's established presence will not be easily displaced. The corridor is expected to play a key role in the Democratic Republic of Congo's mineral exports and the global energy transition, with DRC President Félix Tshisekedi emphasizing its strategic importance for regional prosperity. Additionally, the U.S. partnership with Angola includes investments in clean energy projects, further integrating the nation into the global economy.