Sunday, June 23, 2024

European Investment Bank (EIB) Expresses Interest in Funding Zambia-Lobito Railway Project

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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.

16 COMMENTS

  1. Only God knows how much of our resources this muzungu anikonde has given up to his western masters. Privatisation reloaded

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    • You are angry because it is not pipeline taking petrol to your village, while the people of Lusaka lack pipes to deliver water or extract the refuse. You are angry because when you were part of the tribalistic governments under Satan and Chakolwa, you were stealing money from Northwestern Province and investing it in your villages. HH is making this project to reduce the log time to for exports from Western/ North western Zambia, and I suppport this. The Europeans want to get in the infrastructure game, and they have done their home work. This project has every chance of success because both Western Zambia and Angola have a lot to export through this corridor

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    • @N Why do you want to divide us into Western/North Western Zambia and whatever you call the rest? You want to tribalise issues so that you can function because in modern day Zambia you have no place. Zambia needs to get rid of you and deliver you to Eritrea or Biafra or Burundi

    • Kavindele may have wished for it, but it would not have happened under these PF and MMD criminals. Kavindele came from the wrong part of the country, and they were more interested in taking the money coming from the copper mines in that province and making universities in their villages and building private petrol lines their provinces

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    • Kavindele was telling us about a new railway from Chingola to Solwezi which reporters dubbed Northwest Rail. The reporters have as usual done their poor job here by not telling us whether this is an entirely new railway or the revival of the previous Lobito railine from Ndola through Mufulira to Lubumbashi then to Kasaji and Luena to Lobito. This rail line is actually still functioning because the South African company Rovos Rail sells a trip from Dar to Lobito via Ndola

    • So your interest is to shame fellow Zambians? This is not a done deal. These plans have been on and off. But for you it’s a score? Upnd was elected to deliver but so far it big minus…. below freezing point.

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    • UPND is trying to clean up all the rubbish you made. You borrowed and stole US $31 billion which Zambia cannot pay back. And yet, you want Zambia to carry on as if there is debt to pay back. If I was HH, I would take all the loans, and see what they were borrowed for, and let the provinces which for which they were borrowed pay them back. Why does a poor farmer in Sinazeze have to pay for a university in Chinsali? Let the people of Chinsali pay for all the operation costs of their univeristy

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    • The University in Chinsali is not THEIR University. It is Zambia’s. Students come from all over Zambia. Just like Hillcrest Secondary School in Livingstone admits everyone

  2. I think it is time to use the Kenyan formular: Let every province keep 60% of the revenue it generates for its own developmental needs, and remit 40% to the central government in Lusaka.

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  3. I thought that project belongs to Kavindele where has the contract gone ! we Zambians must put our own people first , please mr president that project belongs to Percy Kavindele

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