On 26th October 2023, the African Development Bank (AfDB) and the Africa Finance Corporation (AFC), together with the United States, the European Union, Angola, the Democratic Republic (DR) of Congo, and Zambia, signed a Memorandum of Understanding (MoU) to develop the Lobito Corridor and the new Zambia-Lobito Line. In the process, AFC was appointed as the main project developer and will work with the other signatories. The proposed line runs from Luacano in Angola to Kalumbila in Zambia and further connects to the existing network in Chingola, which crosses the border with DR Congo. The MoU was signed as part of the Global Gateway Forum in Brussels, Belgium, and outlines the signatories' intention to collaborate across multiple sectors to realise the full economic potential of the corridor. Following the signing of the MoU, the AFC will work with the other parties to conduct the necessary feasibility and preparatory studies for the project, which is expected to start before the end of 2023.
