Angola Gets $753 Million US, South Africa Loans for Lobito Rail
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Angola secured $753 million in financing to speed up development of the Lobito rail corridor, ending months of delays tied to talks over government guarantees. The US International Development Finance Corp. and the Development Bank of Southern Africa are providing the funds to upgrade about 1,300 kilometers (808 miles) of railway linking the mineral terminal at the Port of Lobito to Luau on the border with the Democratic Republic of Congo, Lobito Atlantic Railway, the operator, said in an emailed statement.