en.Wedoany.com Reported - The Africa Finance Corporation (AFC) has achieved financial close on a $753 million financing package for the Lobito Corridor Railway project, aimed at enhancing regional connectivity in Africa and trade links with global markets.

The financing package includes $553 million from the U.S. International Development Finance Corporation and $200 million from the Development Bank of Southern Africa (DBSA). This funding further underscores the value of international and regional blended finance models in delivering large-scale infrastructure projects in Africa. AFC and Eaglestone served as joint financial advisors for the transaction.

AFC CEO Samaila Zubairu stated that the project is one of Africa's most strategically significant transport corridors, which will strengthen regional connectivity, promote trade, and unlock new economic growth opportunities for Angola and the broader region.

The project is being implemented by Lobito Atlantic Railway, a joint venture between Mota-Engil and Trafigura. The scope includes rehabilitating 1,300 kilometers of existing railway infrastructure connecting the Port of Lobito in Angola to the Democratic Republic of Congo (DRC). The upgraded corridor will provide a faster and more cost-effective export route for critical minerals from Angola, the DRC, and Zambia, improving their access to international markets. The project will reduce transit time between the DRC and Angola to just six days, compared to the previous 45 days required via traditional routes to South African ports.

Eaglestone Founding Partner Nuno Gil added that this transaction demonstrates that complex, multi-lender, cross-border project financing can be successfully structured and completed on the African continent, and the firm is proud to have participated alongside AFC.