The World Bank is preparing a $300 million project for the Lobito Corridor, according to Victoria Kwakwa, the institution’s Vice President for Eastern and Southern Africa.
She emphasized that participating countries must create favorable conditions for foreign investment.
“The three countries involved must also focus on improving connectivity. Each must establish conditions to boost trade, address regulatory barriers, and develop infrastructure that enhances regional connectivity.
This will enable the region to become a hub of commerce and development,” Kwakwa stated, as reported by Lusa.
Highlighting the strategic importance of the project, Kwakwa underscored the need for Angola, the Democratic Republic of Congo (DRC), and Zambia to collaborate closely and implement policies that support development while fostering trade and essential infrastructure.
The World Bank also announced plans for a job creation initiative targeting micro, small, and medium-sized enterprises.
This $300 million program aims to support around 12,000 businesses operating along this economic and rail corridor, which stretches from the Port of Lobito through the DRC to northern Zambia.
