U.S. Grants Loan for Strategic Angola Rail Line

U.S. Development Finance Corporation CEO Ben Black alongside the head of Portugese construction giant Moto-Engill and the CEO of trading major Trafigura signed a $533 million loan for Angola to build the Lobito Railway. Image via US DFC.

The U.S. International Development Finance Corporation (DFC) said it has agreed a loan for the refurbishment of a rail link in Angola strategic for the transport of minerals which are in high demand at American firms.

In an announcement Wednesday, the DFC said the rail link runs between the Lobito port on the Atlantic coast to Luau on the border with the mineral-rich Democratic Republic of Congo.

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by Agence France-Presse

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