The Development Bank of Southern Africa (DBSA) has approved $200 million in funding for the Lobito Corridor Railway Project in Angola. In collaboration with the U.S. International Development Finance Corporation, this initiative is part of a $786.4 million effort to enhance regional transportation and trade.
The project involves the construction and upgrading of a 1,289-km railway line from Lobito Port on Angola’s Atlantic coast to the border of the Democratic Republic of the Congo.
“Our support for the Lobito Corridor Railway Project aligns with our mission to drive sustainable economic growth and regional integration in Southern Africa,” said Mpho Mokwele, Group Executive for Transacting at DBSA.
As part of the project’s commitment to local content, 50% of the required wagons will be sourced from a South African manufacturing company.
