Luanda — The U.S. government and the European Commission have said they are prepared to discuss ways to finance proposals that will ensure the ongoing rehabilitation of the Lobito Corridor (the Angolan side) and guarantee its success as a catalyst for regional development.

According to the Joint Declaration of Intent on the Lobito Corridor, both parties took note of recent discussions between the Congolese government and the private sector regarding investment proposals for the Congolese portion of the railway.

They emphasized that the Lobito Corridor is a transformative infrastructure project that will strengthen regional connectivity, guarantee supply chains for critical minerals, and drive sustainable economic growth.

The document states that by linking the DRC to the port of Lobito on the Atlantic Ocean in Angola, the Lobito Corridor will open new routes for bidirectional trade between Central Africa, the United States, and Europe.

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"We declare our intention to remain fully aligned and coordinated in supporting the success of the Corridor, which will ensure more transparent supply chains and sustained investment in the region," reads the statement.

The US government and the European Commission also reaffirmed their commitment to promoting peace, security, and economic growth in the Great Lakes region of Africa.

"Together, we are focused on creating the necessary conditions for increased investment from the United States and the European Union throughout the region, recognizing that economic development is a fundamental pillar for long-term stability," reads the statement. CS/AMP