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USAID Administrator Announces New Investments Along the Lobito Corridor

USAID Administrator Samantha Power and Deputy Secretary Richard Verma visited Luanda, Angola, on April 23-25, 2024. They focused on enhancing the business environment, particularly in agriculture with special focus on Lobito Corridor developments. A key announcement included a $235 million USAID investment over five years to support Angola's National Development Plan and fund a variety of programs within the Lobito Corridor.



Administrator Samantha Power and Deputy Secretary of State for Management and Resources Richard Verma visited Luanda, Angola, on April 23, 2024. During their visit, they met with government officials, civil society actors, medical researchers, and private sector representatives to discuss the business environment, with a focus on the agriculture sector and the development of the Lobito Corridor.


While in Angola, Administrator Power concluded the three-day trip with a ride by train from Benguela Railway station to the Lobito Port station with Angolan Minister of Transport Ricardo Viegas de Abreu. After the ride, she filmed herself announcing several investment initiatives USAID had decided to support along the Lobito Corridor.



One major announcement was a $235 million investment by USAID over the next five years to support Angola's National Development Plan. The Lobito Corridor will benefit indirectly and directly given the focus of the Corridor within Angola's NDP. Additionally, a $5 million expansion of USAID's Women in Angola Farming, and financial support of the Angolan President's Malaria Initiative, were announced.


Samantha Power is the USAID's 19th administrator leading the world's largest bilateral development agency with a global team of more than 11,000 individuals in more than 100 countries.

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Lobito Corridor IPA

INTRO

Lobito Intro Report

The Lobito Corridor Investment Promotion Authority ("LCIPA" or "the IPA") is a permanent multi-stakeholder engagement agency tasked to link all public and private entities interested in advancing and participating in the Lobito Corridor. Its main goals are to maximize and promote trade, investment, and economic integration among and between the three African nations of Angola, the Democratic Republic of Congo, and Zambia. 

Download our official Lobito Corridor report to learn more about the initiative and why it matters. Follow our social media and subscribe to the newsletter to stay up-to-date and join the community.

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