Biden Boosts Lobito Rail Corridor with $600M

U.S. President Joe Biden will announce $600 million in financing for projects along Angola's Lobito rail corridor during his visit. This funding supports solar, critical minerals, and telecommunications projects, marking Biden's first presidential visit to Sub-Saharan Africa and the first by any U.S. president to Angola.

U.S. President Joe Biden is set to unveil a significant $600 million investment in Angola's Lobito rail corridor during his forthcoming visit, according to inside sources. The fund will support various projects in solar energy, critical minerals, and telecommunications along the corridor.

This announcement marks a historic moment as President Biden becomes the first U.S. president to visit Angola, as well as making his inaugural trip to Sub-Saharan Africa in his presidential capacity.

The financial infusion underlines the U.S. commitment to bolster infrastructure and technological advancement in the region, aiming to enhance economic growth and connectivity.

(With inputs from agencies.)