African Development Bank Approves $265 Million to Support Zambia's Lobito Corridor Project

en.Wedoany.com Reported - The African Development Bank (AfDB) has approved a $255 million loan and a $10 million grant to support Zambia's participation in the development of the Lobito Corridor, enhancing connectivity between the mineral-rich regions of the Democratic Republic of Congo (DRC), Zambia, and Angola and international markets.

This funding, the first tranche of the AfDB's $500 million support package, will be used to construct a new 550-kilometer railway linking Zambia, Angola, and the Port of Lobito, as well as to upgrade the 105-kilometer Mwinilunga-Jimbe road. Additionally, the funds cover trade facilitation, institutional strengthening, and capacity building to improve corridor utilization and boost productivity and trade in the mining, energy, and agriculture sectors.

The project is expected to create 500 permanent jobs and 5,000 temporary jobs; at the same time, at least 300 people will receive training in railway and road construction and maintenance, and 50 people will receive training in corridor management, logistics, climate safeguards, monitoring, and evaluation.

Mike Salawou, Director of the Infrastructure and Urban Development Department at the African Development Bank, stated that the Lobito Corridor is not merely a transport investment but a platform for regional integration, industrialization, and economic transformation, and that this approval marks a significant step toward unlocking new opportunities for trade, investment, and employment in the region.

This approval follows the financial close in July 2026 of a $753 million package, supported by the U.S. International Development Finance Corporation and the Development Bank of Southern Africa, to finance the Lobito Corridor project on the Angolan side.