Italy is investing $320 million in the development of rail infrastructure associated with the Lobito Corridor – a 1,300 km railway line connecting the copper belts in Zambia and the Democratic Republic of Congo to international markets via Angola’s Lobito Port.
The funds will support the development of core rail infrastructure and aligns with the Alliance for Green Infrastructure in Africa (AGIA) – an initiative to generate, finance and execute projects with the private sector in Africa. AGIA serves as a bridge between the global north and south and mobilizes capital for infrastructure projects in Africa.
The investment is part of Italy’s Mattei Plan for Africa – an initiative that aims to make Italy an energy hub to transport natural gas and energy from Africa to Europe.
Italy joins global partners the United States and the European Union (EU), both of which have already invested in the project. Italy’s $320 million investment represents an additional financial commitment beyond the EU funds and aims to support the development of economic corridors in Africa.
