Italy and the European Union have reaffirmed their commitment to Zambia’s economic transformation through the advancement of the Lobito Corridor Project.
This reaffirmation was made during a high-level meeting held in Rome, attended by Minister of Finance and National Planning, Situmbeko Musokotwane , Representing president Hakainde Hichilema.
This is according to a statement issued in Lusaka on Saturday by the Zambian Embassy in Rome,The event was been held under the theme The Mattei Plan and the EU Global Gateway: A Common Effort with the African Continent,” was co-chaired by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen.
The meeting brought together dignitaries from Angola, the Democratic Republic of Congo, Tanzania, and Zambia to discuss strategic infrastructure initiatives focused on Africa.
The Mattei Plan, spearheaded by Italy, seeks to redefine relations with Africa by replacing traditional charity based models with equal, mutually beneficial partnerships.
This aligns with the European Union’s Global Gateway Strategy, which aims to mobilize up to €150 billion in public and private investments across Africa by 2027.
During the roundtable meeting, Dr. Musokotwane hailed the engagement as a shared commitment to Africa’s sustainable development.
He thanked Italy, the EU, and cooperating partners for their steadfast leadership and pledged Zambia’s full cooperation in deepening a development partnership built on mutual respect and shared prosperity.
The Minister further emphasized Zambia’s shift from merely exporting raw materials to a model of industrialization that adds value locally.
He stated that this transition would be greatly enhanced by the development of infrastructure along the Lobito Corridor, unlocking jobs and stimulating economic activity.
On the sidelines of the meeting, Dr. Musokotwane also held high-level bilateral discussions with key financial stakeholders, including World Bank President Ajay Banga, IMF Managing Director Kristalina Georgieva, and African Finance Corporation President Samaila Zubairu.
And Dr Musokotwane has signed a Letter of Intent agreement with the African Development Bank that will see the construction of 550 kilometres of railway from Chingola to the Angola border, and a 260-kilometre road network from Chisese to Mwinilunga and Jimbe, a vital infrastructure for the Lobito Corridor.
He also signed a second Letter of intent with the European Union, reaffirming the bloc’s support for the corridor’s realization, which seeks to connect Zambia’s economy more directly to Angola and beyond through efficient transport infrastructure.