AfDB plans to invest USD 500 Million in the Lobito Corridor and more than USD 1 Billion in Angola’s private sector
The African Development Bank (AfDB) is expected to strengthen its support for Angola’s economic development through new investments in the Lobito Corridor and a financing pipeline exceeding USD 1 billion for the private sector, as part of a new phase of its partnership with the country.
According to the AfDB Resident Representative in Angola, Pietro Toigo, the institution plans to mobilise around USD 500 million for investments linked to the Lobito Corridor, through both sovereign and non-sovereign financing. The investment aims to support regional integration, develop productive value chains and strengthen the corridor’s role as a strategic platform for trade and investment in Southern Africa.
At the same time, the AfDB announced that it has a pipeline of projects for Angola’s private sector exceeding USD 1 billion, with potential approval over the next two years. The financing is expected to support investment opportunities in sectors considered strategic for the country’s economic diversification.
The announcements were made during the presentation of the Angola Development Effectiveness Review 2016–2025, which assesses the results of the partnership between Angola and the AfDB. Since 2013, the Bank has committed approximately USD 2.9 billion to projects in the areas of energy, agriculture, water and sanitation, governance and private sector development.
According to Pietro Toigo, the Bank intends to play an increasingly active role not only as a financier, but also as a catalyst for partnerships and a mobiliser of capital, contributing to greater private-sector participation in Angola’s economic development.
Among the results already achieved through the partnership between Angola and the AfDB are electricity access for approximately 1.3 million people, improved access to safe water for around 550,000 people, and support for productive sectors through financing for businesses, farmers and skills development programmes.