Lusaka Hosts Lobito Corridor Summit

By Arnold Tutu The World Bank Group, in partnership with the Zambian government, will convene the Lobito Corridor Engine Room Meeting in Lusaka tomorrow to accelerate the development of the regional economic corridor. The meeting will be held on Monday and Tueday this week and will bring together senior representatives from Zambia, Angola and the Democratic Republic of Congo. President HAKAINDE HICHILEMA is expected to officially open the high-level meeting, which will also be attended by World Bank Managing Director of Operations ANNA BJERDE. The meeting will focus on strengthening regional coordination and advancing the Lobito Corridor as an integrated economic route linking the three countries to global markets. The World Bank says discussions will centre on practical steps to turn the corridor’s potential into investment, trade and job opportunities for businesses and communities. The World Bank Group is also working to attract private investment along the corridor by reducing investment risks, improving the business environment and supporting projects that can secure financing. The institution says its financing, guarantees and advisory services include a recent MIGA guarantee supporting investment in the Lobito Atlantic Railway. The World Bank says the measures are intended to attract private capital and support economic growth and job creation across the region.