Global Infrastructure Initiative Seeks to Connect Atlantic to Indian Ocean
In a major push to boost economic growth and connectivity across the globe, the United States and other G7 members have been working together to finance infrastructure projects since 2022. The latest initiative, the Partnership for Global Infrastructure and Investment Roundtable on the Lobito Corridor, aims to connect the Atlantic to the Indian Ocean through a transcontinental infrastructure network.
The Lobito Corridor, which spans across Angola, Zambia, and the Democratic Republic of Congo, is one of the biggest projects in the initiative. The goal is to build quality, sustainable infrastructure, including roads, clean energy, and fiber optic cables, with the highest standards of transparency, labor, and environmental protections.
Since 2022, the United States has mobilized over $60 billion to support projects worldwide, with the Lobito Corridor receiving over $4 billion in commitments. The coalition behind the project includes three African countries, two G7 partners, and the Africa Finance Corporation and African Development Bank.
The initiative is already showing results, with shipments taking significantly less time to reach their destinations. For example, it used to take up to 45 days to get shipments to port by truck, but now it takes just a fraction of that time by train. The project is also expected to bring clean, affordable energy to over a million people and strengthen food supply chains.
In a recent visit to Angola, Secretary Blinken saw the benefits of the development firsthand. The initiative has also attracted significant investments from CEOs, including the development of solar grids to bring clean energy to millions of people.
The next step is to expand the Lobito Corridor and lay the groundwork for the convening of leaders in Angola, led by President Biden and President Lourenço. Tanzania is also joining the conversation for the first time, a welcome development for the initiative.
As Secretary Blinken emphasized, the challenge ahead is to continue the work to realize the extraordinary possibilities of this project. With its focus on quality, sustainability, and community engagement, the Partnership for Global Infrastructure and Investment Roundtable on the Lobito Corridor is an exciting step towards a more connected and prosperous world.