Why Lobito Corridor is key to Zambia’s economy —Govt

He said Government attached great importance to the Lobito Corridor Development Project and valued the World Bank Group’s support towards its implementation.

Malama said the Bank’s assistance in improving connectivity and trade facilitation, developing agricultural value chains and promoting green, resilient and inclusive cities would contribute to Zambia’s economic diversification efforts.

He said the project also provided an opportunity for Zambia to strengthen its position within regional and international trade networks.

Malama said Government appreciated the World Bank’s leadership in the Lobito Corridor Ministerial Roundtable and the Engine Room Mechanism, which brings together Zambia, Angola and the Democratic Republic of Congo (DRC), alongside development and financing partners.

The partners include the African Development Bank, Africa Finance Corporation, European Union and the United States Government.

He said the Engine Room Mechanism would help coordinate efforts among the participating countries and partners to advance the corridor’s development.

Malama said successful implementation of the project would create new opportunities for production, trade and investment, particularly through agricultural value chains.

He said the corridor was expected to provide Zambia with improved access to the Atlantic Ocean while supporting the country’s long-term ambition of becoming a regional trade and logistics hub.

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