The White House has announced that a billion dollars has been mobilised for what it says is “the biggest rail investment in Africa in our history” and it will also be active in promoting maritime development and security in Angola.
A statement from the White House said that the meeting between President Joe Biden and Angola’s President João Manuel Gonçalves Lourenço of Angola at the White House last week had focused on discussions regarding significant US economic investment in Angola, including through the president’s flagship Partnership for Global Infrastructure and Investment (PGI) in the Lobito Corridor, with over a billion dollars in US financing committed to it, and $250 million earmarked for the next year.
All these investments will advance Angola’s goal of becoming a net food exporter by 2027 and strengthening regional food security.
“These investments include support for over 180 rural bridges, upgrading 4G and 5G digital connectivity across the nation, introducing the first-ever mobile money application, and bringing 500 megawatts of solar power to the grid, with an additional billion mobilised for the biggest rail investment in Africa in our history,” its statement read.
The two leaders committed to increased partnership on issues that define a shared future, including strengthening democracy, energy production and exportation, and space cooperation. To that end, they welcomed the launch of a US–Angola Energy Security Dialogue in 2024 focused on the secure and stable supply of energy and deeper commercial ties while advancing shared climate goals.
For his part, Lourenço said Biden was the first US head of state to change the paradigm of cooperation with Africa. He recalled that at the US-Africa Summit in 2022, the US president had pledged to look at Africa with new eyes, investing in the construction of infrastructure necessary for the development of the continent.
The Angolan head of state underlined that the US involvement in the Lobito Corridor and other projects in the telecommunications and clean energy sectors demonstrated this commitment.
Angola is currently the US's third-largest trading partner in sub-Saharan Africa, with oil as one of the main assets of this strategic partnership.
In addition to the oil sector, bilateral cooperation has increased in recent years, especially in the area of commercial diplomacy, which has made it possible to approve various projects.
In terms of renewable energy, for example, funding totalling $900 million has been approved for projects developed by the American company, Sun Africa, while in infrastructure a total of $363m was approved this year for the American company Acro Briz to build metal bridges in 18 provinces of Angola.
The US is to cooperate in maritime security advancement as well. The two nations recently signed a memorandum of understanding in the security sector to strengthen relationships in maritime security and equipment supply. ELJ/AMP