President Biden Participates in Lobito Corridor Trans-Africa Summit in Benguela, Angola
On December 4, 2024, President Joe Biden traveled to Benguela, Angola, to participate in the Lobito Corridor Trans-Africa Summit. The summit brought together leaders from across the African continent to discuss the development of the Lobito Corridor, a major infrastructure project that will connect Angola to the Democratic Republic of Congo, Zambia, and Tanzania.
In his remarks at the summit, President Biden emphasized the importance of the Lobito Corridor to the economic development of Africa. He said that the project will create jobs, boost trade, and improve connectivity between countries in the region.
“The Lobito Corridor is more than just a road or a railway,” President Biden said. “It is a symbol of Africa’s potential to build a better future for its people. It is a testament to the power of cooperation and collaboration.”
The Lobito Corridor is a key part of the African Union’s Agenda 2063, which is a plan for the continent’s economic and social development. The project is expected to cost $4.5 billion and will be completed in phases over the next several years.
The United States is providing $1 billion in funding for the Lobito Corridor project. This funding will be used to support the construction of roads, railways, and bridges, as well as to provide technical assistance to the participating countries.
In addition to his remarks at the summit, President Biden also met with Angolan President João Lourenço. The two leaders discussed the importance of the Lobito Corridor project, as well as other issues of mutual concern.
The Lobito Corridor Trans-Africa Summit was a success. The participating countries agreed to work together to develop the project and to ensure that it benefits all of the people of Africa.
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