Italy Pledges €320 Million to Support Zambia’s Lobito Corridor Project
Italy has committed €320 million to the Lobito Corridor project to boost Zambia’s infrastructure development. This pledge was made by Stefano Gatti, Director General for Development at the Italian Ministry of Foreign Affairs Cooperation, during a meeting with Zambian President Hakainde Hichilema.
The Lobito Corridor is a critical infrastructure initiative aimed at enhancing trade connectivity between Zambia, Angola, and the Democratic Republic of Congo (DRC). The project involves upgrading and expanding the existing rail corridor, linking Zambia’s copper and cobalt-rich regions to the Angolan port city of Lobito.
The improved route is expected to streamline the transportation of these essential minerals, vital for global industries.
Gatti emphasized Italy’s focus on sustainable development, ensuring that the corridor’s development promotes economic growth while adhering to environmental best practices. This commitment aligns with Zambia’s goals and reflects a growing global trend toward responsible infrastructure development.
In addition to the Lobito Corridor project, Italy’s broader development strategy in Africa includes expanding cooperation with 23 priority countries, with Zambia being a key partner.
Italy’s climate fund, amounting to €4.4 billion, is dedicated to supporting climate-related initiatives in Zambia. An immediate assistance package of €500,000 has also been mobilized to aid Zambia’s ongoing drought response efforts.
President Hichilema welcomed Italy’s multifaceted support, recognizing the strategic importance of the Lobito Corridor for regional economic development.
He highlighted its potential to enhance trade connectivity and stimulate growth across the involved nations.
The President also noted ongoing collaborative projects between Italy and Zambia in sectors such as engineering, energy, agriculture, and water management, which strengthen the long-standing partnership between the two nations.
Expressing gratitude for Italy’s commitment to Africa’s development, particularly through initiatives like the “Mattei Plan,” President Hichilema proposed strengthening bilateral relations by establishing a structured action plan.
This plan would incorporate clear mechanisms for tracking progress, ensuring transparency and accountability in project execution.
Source: CopperbeltKatangaMining
