Zambia and EIB Deepen Cooperation to Boost Investment in the Lobito Corridor and Drive Regional Trade Growth
Zambia has intensified its engagement with multilateral development partners, as Finance and National Planning Minister Dr. Situmbeko Musokotwane met with European Investment Bank (EIB) Vice President Karl Nehammer ahead of the Zambia–EU Lobito Corridor Business Forum, scheduled for 13–14 November in Lusaka.
The high-level bilateral talks focused on unlocking new investment opportunities along the Lobito Corridor, a key regional transport network linking Zambia to the Atlantic Ocean through Angola and the Democratic Republic of Congo (DRC).
The corridor forms a central pillar of Zambia’s connectivity and industrialization agenda, aimed at boosting cargo volumes, improving trade efficiency, and advancing economic diversification.
Dr. Musokotwane emphasized that transforming the Lobito Corridor into a modern trade artery would stimulate mining, agro-processing, and manufacturing sectors ultimately expanding Zambia’s export capacity and competitiveness.
“The Lobito Corridor presents major opportunities to stimulate trade and attract private capital,” he said. “Our goal is to develop an efficient route that creates value for both citizens and investors while deepening regional integration.”
The minister outlined three priority investment areas:
Expanding mining output to increase freight volumes;
Promoting value addition to strengthen industrial competitiveness; and
Supporting agriculture and agro-processing to diversify export revenues.
He reaffirmed the government’s commitment to leveraging Public–Private Partnerships (PPPs) to mobilize financing for large-scale infrastructure projects.
EIB Vice President Karl Nehammer commended Zambia’s reform momentum and reaffirmed the Bank’s readiness to enhance cooperation.
“The EIB stands fully aligned with Zambia’s development goals and is prepared to deepen collaboration with the country and its regional partners to unlock the full potential of the Lobito Corridor,” he said.
Currently, Zambia holds active EIB loans totaling USD 536.4 million, supporting major projects in transport, energy transmission, and water and sanitation. Key initiatives include the Great North Road upgrade, the Lusaka Power Transmission and Distribution Project, and the Lusaka Sanitation Project.
The portfolio reflects continued confidence in Zambia’s macroeconomic reforms and fiscal discipline.
Officials said the renewed engagement with the EIB sends a strong signal to international investors about Zambia’s policy stability and commitment to long-term growth.
As the nation transitions from economic stabilization to sustained expansion, partnerships with institutions like the EIB will be vital for scaling up renewable energy, upgrading infrastructure, and fostering inclusive development.
The government reaffirmed its readiness to implement bankable projects along the Lobito Corridor, with feasibility studies underway to identify financing gaps and investment priorities.
Once complete, the corridor is expected to enhance Zambia’s logistics efficiency and position the country as a regional hub for trade, transport, and industrial growth.
