Biden and the Railways: US Investments Strengthen Africa's Infrastructure
- US President Biden promotes the Lobito Corridor in Africa with billion-dollar investments.
- This initiative aims to strengthen US influence in a mineral-rich region.
Eulerpool News·
At the end of his term in office, US President Joe Biden is demonstrating his passion for the railway in Angola. During his visit, he is presenting the major project Lobito Corridor, where the USA, together with allies, is investing billions in the renovation of approximately 1,300 kilometers of railway line in Zambia, the Congo, and Angola. This initiative aims to boost US presence in a mineral-rich region that is crucial for electric vehicles and clean energy technologies.
Biden, known by the nickname "Amtrak Joe" due to his decades of commuting by train between Delaware and Washington, emphasized that this is the largest American investment in a railway project outside the United States. Accompanied by leading politicians from Angola, Zambia, the Congo, and Tanzania, Biden will visit the port facilities in Lobito and meet with representatives from companies that could benefit from the corridor project.
At the end of his stay, Biden plans to announce $600 million in new US investments for the corridor. This financial support is intended to accelerate the project, which is also backed by the European Union, the G7, a Western-led private consortium, and African banks.
The strategic expansion of the infrastructure is intended not only to facilitate access to raw materials and their markets but also to counter China's growing influence in Africa. While traditional transport from the eastern Congo or Zambia has taken weeks, the use of the Lobito Corridor can shorten the process to a few days. Modern Financial Markets Data
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