Business

Lobito Corridor project gets $8.1 million

KAYULA Siame.

NANCY MWAPE, Lusaka
AFRICAN Development Bank (AfDB) has provided a US$8.1 million grant for the development of Lobito Corridor project that is under-utilised by Zambia, Democratic Republic of Congo (DRC) and Angola.
Ministry of Commerce, Trade and Industry Permanent Secretary Kayula Siame said Government recognises the potential and importance of the corridor that is under-utilised and has commissioned the Lobito Corridor Trade Facilitation project to map out a strategy for its development through the grant from AfDB.
The funding from AfDB is part of the investment requirements on the corridor over the next three years to build capacity for trade facilitation and coordination, technical assistance and project management.
“The Lobito Corridor offers an alternative and shorter route to export markets for the DRC and Zambia, especially…http://epaper.daily-mail.co.zm/

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