The U.S. International Development Finance Corporation (DFC) is nearing completion of over $500 million in financing for the Lobito Corridor.
- The U.S. International Development Finance Corporation is finalizing over $500 million in financing for the Lobito Corridor railway project in Africa.
- This project aims to establish a critical minerals transportation route from Central Africa’s copper belt to Angola’s Atlantic coast.
- The initiative is seen as a strategic move to strengthen U.S. involvement in Africa’s critical minerals sector.
The U.S. International Development Finance Corporation (DFC) is nearing completion of over $500 million in financing for the Lobito Corridor, a major railway project designed to transport critical minerals from Central Africa’s copper belt to Angola’s Atlantic coast.
The move comes as the Trump administration reaffirms its support for the ambitious infrastructure initiative, which is viewed as a strategic effort to boost U.S. engagement in Africa’s critical minerals sector.
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Speaking at the U.S.-Africa Business Summit in Luanda on Monday, DFC’s Head of Investments, Conor Coleman, said the agency is “actively negotiating” with key stakeholders, including the Angolan government and Trafigura Group, to finalize the deal, Bloomberg reported.
Lobito corridor project
The Lobito Corridor project is a major transnational infrastructure and investment initiative designed to connect the Atlantic port of Lobito in Angola to the mineral-rich regions of the Democratic Republic of Congo (DRC) and Zambia.
The DFC initially announced in 2023 that it was reviewing financing for the project. When asked about delays, Coleman declined to elaborate but emphasized that they are not related to any upcoming policy changes under the Trump administration.
“There’s business as usual” at the DFC, Coleman said. “You’ll see us playing a lot in critical minerals infrastructure, both digital and transportation, as well as energy, especially here on the African continent.”
The DFC has committed a $3.4 million technical assistance grant to support Pensana Plc’s rare-earth extraction and processing project in Angola.
Meanwhile, Congo’s government plans to launch a tender in November to begin construction on its portion of the corridor, with hopes the railway will be operational within three years, according to Vice Prime Minister Jean-Pierre Bemba.
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Congo, the world’s largest cobalt producer and second-largest copper miner, also holds significant lithium reserves, all of which could be transported along the corridor to global markets.
Strategically located, the Lobito Corridor offers a direct and efficient export route for these resources, linking inland African mines to global markets.
As the demand for critical minerals intensifies, the corridor is gaining international attention. The U.S., aiming to reduce China’s grip on global supply chains, has begun increasing its engagement in Africa.
