Lobito Corridor secures US$753 million financing for Angola-DRC railway upgrade
Staff Reporter THE Lobito Corridor railway project, linking Angola’s Atlantic coast to the Democratic Republic of Congo (DRC), has reached financial close on a US$753 million (about N$13.8 billion) funding package aimed at upgrading and expanding the strategic transport route to boost regional trade and economic integration. The financing milestone was announced by the Africa ... The post Lobito Corridor secures US$753 million financing for Angola-DRC railway upgrade appeared first on Informanté
Staff Reporter
THE Lobito Corridor railway project, linking Angola’s Atlantic coast to the Democratic Republic of Congo (DRC), has reached financial close on a US$753 million (about N$13.8 billion) funding package aimed at upgrading and expanding the strategic transport route to boost regional trade and economic integration.
The financing milestone was announced by the Africa Finance Corporation (AFC), which acted as co-financial adviser on the transaction alongside Eaglestone, supporting the mobilisation and structuring of funding for Lobito Atlantic Railway S.A. (LAR), the project’s concessionaire.
The financing package includes US$553 million from the United States International Development Finance Corporation (DFC) and US$200 million from the Development Bank of Southern Africa (DBSA).
