Wednesday, June 19, 2024

USA Investment in Lobito Corridor Rail Line is a Positive Game Changer – Tayali

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The United States of America’s investment in the Lobito Corridor rail line has been hailed as a significant development by Hon. Museba Frank Tayali, the Minister of Transport and Logistics in Zambia. The announcement was made by President Joe Biden during the Partnership for Global Infrastructure and Investment (PGII) Meeting held in Hiroshima, Japan.

President Biden revealed that the United States has already mobilized over $30 billion in investments and is committed to furthering its efforts. This declaration has been welcomed by the Zambian government, particularly the New Dawn Administration, as it aligns with their vision of unlocking the region’s business potential and stimulating economic growth through private sector involvement.

Hon. Tayali expressed his satisfaction with President Biden’s remarks, emphasizing that they demonstrate the high level of importance and confidence the G7 and its member states place in the Lobito Corridor. He believes that this investment will have far-reaching positive impacts across multiple sectors in the region.

President Biden outlined the United States’ plans to support the development of the Lobito Corridor through an initial investment in a rail expansion project. This railway is set to become the primary open-access transportation infrastructure connecting the Democratic Republic of the Congo (DRC) and Zambia to global markets via Angola. The President also mentioned the PGII’s pursuit of additional opportunities to connect the initial Lobito Corridor investments to Tanzania and ultimately the Indian Ocean.

Describing the railway project, President Biden stated, “The rail line would extend from the western shores of Angola to the border of the DRC and Zambia, with the goal of ultimately reaching the Indian Ocean, connecting the continent east to west for the first time.” He emphasized the project’s potential to facilitate trade, create jobs, strengthen supply chains, incentivize investments in agriculture, promote food security, and enable access to clean energy and digital connectivity.

President Biden stressed the importance of investing in key economic corridors, highlighting their potential to provide long-term dividends. As part of the initial investments, the U.S. International Development Finance Corporation (DFC) is conducting due diligence for a potential financing package of $250 million to finance the Lobito Atlantic Railway Corridor. This marks the DFC’s first investment in rail infrastructure on the continent and is expected to pave the way for increased trading and economic activity between Angola and the DRC, while also promoting investments in agriculture, digital infrastructure, and expanded access to electricity.

The Zambian government and stakeholders in the region are optimistic about the transformative impact of the USA’s investment in the Lobito Corridor rail line. The project has the potential to spur economic growth, improve regional connectivity, and create opportunities for generations to come. With the support of international partners like the United States, the Lobito Corridor is poised to become a crucial trade route, connecting the African continent from east to west and opening doors for enhanced cooperation and development.

17 COMMENTS

  1. I dont know what is wrong with us Zambians…Enock Kavindele has kissed so much political behinds in Ruling party for decades pushing for this project now he is an old man today some new minister in 2023 comes to sing praises for USAID saying its a gamechanger…do you even know what that means?

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  2. I dont know what is wrong with us Zambians…Enock Kavindele has ki$$$ed so much political behinds in Ruling party for decades pushing for this project now he is an old man today some new minister in 2023 comes to sing praises for USAID saying its a gamechanger…do you even know what that means?

  3. I dont know what is wrong with us Zambians…Enock Ka vindele has ki$$$ed so much political beh inds in Ruling party for decades pushing for this project now he is an old man today some new minister in 2023 comes to sing praises for USAID saying its a gamechanger…do you even know what that means?

    • A country that gives a loan to the Chinese to construct our road but can’t find money to help revive our mines. During by-election the assurance to save the KCM and Mopani is always next week. After by-election THERE ARE LEGAL CHALLENGES.

    • The only fat thing is you @Kaizer Zulu and your head on your profile photo you dull cretin of a koswe…

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    • You are very upset. Is the fat bustard your relative? That also makes you a fat bustard. Fuseke

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    • @ Kaizer I would one day like to meet you in person you dull cretin, is it true that your father is also your grandfather and your mother is your sister? No wonder you have such a low IQ you product of incest very dull koswe

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    • 2020 you are very upset because the truth hurts. The only ones who keep it in the family are those who believe that only a tonga can rule upnd. They marry among themselves.

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  4. Us we want investment whoever brings it is welcome so this Lobito Railway is a great plan…but what I don’t understand is why the IMF and US govt can’t assist us with this $1.3 billion which is a very, very small amount to them without making us go to China so that it appears China are the ones who are preventing this bail out from happening. These people don’t they know if we as Zambia are economically hit badly this could lead to no more production of Copper and a breakdown in commerce leading to a blockage of all mineral cargo coming from DRC from passing through Zambia and this will have such a big effect on copper prices pushing the cost of electrical consumables up…but they are gamblers…

  5. We’ve heard this before, investment is the new buzz word for looting. I’m yet to discover a country that sits on US infrastructure investment. These people are so arrogant with decent countries never mind a tiny country called Zambia. If the US show interest in your country, just know that you are toast.

  6. Tell your friend the provincial minister to stop bullying the Kitwe mayor who has a democratic right to say what she wants.

  7. The American policy is America first, and don’t think US is providing this for free! If they build the rail line from west to the east coast, it means they can transport minerals across Africa to USA without being bothered by anyone.
    The countries involved should think through this offer seriously.

  8. Lets just be creative and see how we can benefit from this project. Why do we want to be negative all the time. Put up your own best team that could negotiate a good deal. We have people like Clive Chirwa, Caleb Fundanga, Kavindale himself and many others who could be part of this team. Let us stop seeing negativity in everything

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