PRESIDENT Hakainde Hichilema yesterday held talks with U.S. President Joe Biden pledged to support the infrastructure projects along the Lobito Corridor with a staggering US$600 million.
Biden’s latest investment has now brought the total of the U.S. investments in the project of Lobito Corridor to over US$4 billion.
Biden said the investment will fund key projects, including modernising agriculture infrastructure, constructing high speed mobile networks and revamping the Lobito Atlantic Railway.
According to President Hichilema the Lobito project will catalyse sustainable and inclusive economic development and lower transportation costs to regional and global markets.
He shared that the Lobito Trans Africa Corridor and the new rail line from Angola to Zambia will drive economic growth, job creation and sustainable development across the region.
On the sidelines of the summit, the Head of State also held bilateral talks with President Biden where they both discussed the Zambian U.S. relationship, economic progress and democratic development.
President Hichilema shared that the two emphasised the need for debt reform, ensuring countries are not held back from investing in development due to high debt servicing.
The President said Zambia remains committed to working with the governments of Angola, DRC, the U.S, Tanzania and other partners to actualise the vision and create a brighter future for people.
“This corridor is of vital importance to opening up our countries, to opening up our regions, the continent and truly the global economy, the U.S yes, Europe, other parts of the global community,” said President Hichilema.
By Catherine Pule
Kalemba, December 5, 2024
