The European Investment Bank (EIB) has expressed a keen interest in providing funding for the proposed Zambia-Lobito railway line. EIB Vice President Thomas Ostros recently confirmed the bank’s interest, stating that their involvement in the project would be contingent on the completion of feasibility studies by the African Development Bank (AfDB).
Mr. Ostros made these remarks during an interview with journalists at State House, where he held closed-door discussions with President Hakainde Hichilema. The EIB Vice President conveyed the bank’s belief in the viability of the Zambia-Lobito railway project and their willingness to consider financial support once the AfDB completes its feasibility studies.
The Zambia-Lobito railway line has gained attention as a significant infrastructure project with the potential to enhance transportation and trade links between Zambia and the coastal town of Lobito in Angola. This railway promises to provide an efficient and cost-effective means of transporting goods, fostering regional integration, and boosting economic development in the region.
President Hakainde Hichilema’s administration has been actively seeking funding and partnerships to advance key infrastructure projects aimed at driving economic growth and development in Zambia. The potential involvement of the European Investment Bank represents a positive step towards realizing the Zambia-Lobito railway project’s objectives.
The decision to engage in the project is expected to be based on the outcome of the feasibility studies conducted by the AfDB, which will provide crucial insights into the project’s technical, economic, and environmental aspects. The involvement of international financial institutions like the EIB underscores the project’s significance and potential positive impact on regional trade and connectivity.
As the Zambia-Lobito railway project progresses, it holds the promise of becoming a transformative development for Zambia’s transportation infrastructure, opening up new avenues for trade, economic growth, and collaboration between nations in the Southern African region. The continued support and interest of institutions like the European Investment Bank serve as a testament to the project’s importance and potential to advance regional development goals.