US EditionUS agency, consortium sign $553 million loan for Angola ...
The $753 million loan aims to renovate 1,300 km of track, increase transport capacity ten-fold, and cut mineral transport costs by up to 30%, supporting US supply chain goals.
- This month, the U.S. International Development Finance Corporation and the Development Bank of Southern Africa signed a $753m joint loan at a Washington ceremony to upgrade the Lobito Corridor railway alongside a consortium of companies.
- Under the Biden administration the Lobito Corridor was framed as a climate-transition logistics project for copper and cobalt, but under President Donald Trump it was reframed as a geoeconomic tool to diversify mineral supply chains and reduce Chinese dominance.
- Planned upgrades include replacing track over 1,300 kilometres, with DFC's $553-million and the Development Bank of Southern Africa's $200m expected to increase capacity ten-fold to 4.6 million metric tons.
- The deal positions Angola as a strategic hub in a U.S.-led effort, with the United States' DFC aiming to secure supply chains and the Development Bank of Southern Africa's $200m commitment reinforcing Lobito's weight using South African rolling stock and local-content requirements.
- The project is emerging as a hybrid model using South African rolling stock, contrasting with China’s Belt and Road approach; China’s response is uncertain, and the Lobito Corridor serves as a proving ground for Western strategy in Africa.
32 Articles
32 Articles
US loans Angola $500M for major railroad
The US approved a $500 million loan to Angola to refurbish a key railway line, part of Washington’s new strategy to promote its interests in Africa. The loan is part of White House efforts to counter China’s influence on the continent, while gaining access to Africa’s vast mineral resources. Once completed, the Lobito Corridor will help move minerals from central Africa to a port on Angola’s Atlantic coast. The landmark deal underscores Washingt…
Abundant both by the US government and the South African Development Bank, this $753 million loan is for the renovation of 1,300 kilometres of railways and the purchase of new locomotives. A major investment promised by Joe Biden in his time to counter China's influence on African mines.
Caught in the Corridor: Angola, Europe and America
After years of strategic signalling, the US has signed at a Washington ceremony the final loan documents for the release of a substantial capital commitment for the Lobito Corridor railway upgrade, one of central and southern Africa’s most geopolitically significant infrastructure projects. It signed the agreement together with a consortium of companies, and the funds come in the form of a $753m joint loan agreed in partnership with the Developm…
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