AFRICA Finance Corporation (AFC) has reached financial closure to fund the $US 753m Lobito corridor railway project in Angola. This follows the signing of a loan agreement in Washington DC in December 2025.
The funding will support the rehabilitation, upgrading, and long-term operation of the 1300km rail corridor linking the Port of Lobito in Angola to the border with the Democratic Republic of Congo (DRC).
AFC acted as co-financial adviser on this transaction, alongside Eaglestone, which led the structuring and mobilisation of financing for the borrower and concessionaire, Lobito Atlantic Railway (LAR), a joint venture between Mota-Engil and Trafigura.
The financing for the project includes $US 553m from the US International Development Finance Corporation (DFC) and $US 200m from the Development Bank of Southern Africa (DBSA).
“As one of the continent’s most strategic transport corridors, the project will strengthen regional connectivity, facilitate trade, and unlock new opportunities for economic growth across Angola and the wider region,” says Samaila Zubairu, president & CEO of AFC.
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