The US's International Development Finance Corporation (DFC) plans to invest €229 million (US$250 million) in the development of the Lobito corridor between the port of Lobito in Angola and the Copperbelt region of the Democratic Republic of Congo. The investments will be made under the Partnership for Global Infrastructure and Investment (PGII) to advance the development of transformative economic corridors. The announcement follows a concession agreement signed in November 2022 between the Angolan government and a consortium of the Belgian private operator Vecturis, Singaporean trading company Trafigura, and Portuguese construction group Motal-Engil, and an agreement signed around January 2023 between the governments of Angola, the Democratic Republic of Congo and Zambia on an Angola Corridor Transit Facilitation Agreement (LCTTFA).
