The Lobito Corridor is the first strategic economic corridor launched under the flagship G7 Partnership for Global Infrastructure and Investment (PGII), in May 2023. In the margins of the G20 Summit in New Delhi in September 2023, the EU and the US released a Joint Statement, teaming up to support the development of the Corridor.
The Lobito Corridor will unlock the enormous potential of the region, enhance export possibilities for Angola, the Democratic Republic of the Congo (DRC) and Zambia, and create added value and jobs through investments and soft measures.
Background
Announced through a EU-US Joint Statement in the margins of the Partnership for Global Infrastructure and Investment (PGII) event at the G20 in India in September 2023, the Lobito Corridor is a key priority under the G7’s PGII.
The EU and the US are co-leading the support for the Corridor's development, including infrastructure investments, soft measures for trade and transit facilitation, investments in related sectors to foster sustainable and inclusive growth and capital investments (agriculture value chains, energy, transport/logistics, technical and vocational education and training) along the Corridor in Angola, DRC and Zambia.
During the Global Gateway Forum in October 2023, the EU and the US signed - together with Angola, DRC, Zambia, the African Development Bank (AfDB) and the Africa Finance Corporation (AFC) - a Memorandum of Understanding (MoU) to define the roles and objectives for the Corridor’s expansion.
Scope and objectives
In January 2023, the Ministers responsible for Transport and Corridor Development from Angola, DRC and Zambia, with support and coordination of the Secretariat of the Southern African Development Community (SADC), signed the Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) Agreement. The LCTTFA Agreement aims to provide an effective and efficient route that facilitates the transportation of goods within territories between the three Corridor Member States, through:
- harmonisation of policies, laws and regulations;
- coordinated joint corridor infrastructure development strategies and activities;
- dissemination of traffic data and business information; and
- implementation of trade facilitation instruments.
The goal is to support greater participation of SMEs in business value chains, mainly in agriculture and mining, with the view of increasing trade and economic growth along the Lobito Corridor and across the SADC Region.
Results
Once transport infrastructure connecting all three countries is fully operational, the line will enhance export possibilities for Zambia, DRC and Angola, boost the regional circulation of goods and promote the mobility of citizens. By significantly reducing the average transport time, the Corridor will lower the logistics costs and carbon footprint for exporting metals, agricultural goods, and other products as well as for future development of any mineral discoveries.
Key information
Implementing organisations: Team Europe +, AfDB, AFC and US
Partners: The European Commission, the Government of the United States of America, the Government of the Republic of Zambia, the Government of the Republic of Angola, the Government of the Democratic Republic of Congo, the African Development Bank (AfDB), the Africa Finance Corporation (AFC).
Funding instrument: NDICI