Africa Finance Corporation (AFC) Signs Concession Deals for Zambia Lobito Rail Project

Africa Finance Corporation (AFC) has signed concession agreements with Angola and Zambia for the Zambia Lobito Rail Project. These agreements cover financing, construction, ownership, and operation of the railway. The project was announced during the 79th UN General Assembly, with U.S. Secretary of State Antony J. Blinken present.

The Zambia Lobito Rail Project, involving 800 km of rail line from Angola to Zambia, aims to boost trade and investments in key sectors. AFC, as the lead developer, will also benefit from a $2 million grant from the U.S. Trade and Development Agency for environmental and social assessments.

The rail line will create significant economic benefits, reduce emissions, and generate jobs. It aims to link Zambia and DRC to international export markets via the Port of Lobito.