The US approved a $500 million loan to Angola to refurbish a key railway line, part of Washington’s new strategy to promote its interests in Africa.
The loan is part of White House efforts to counter China’s influence on the continent, while gaining access to Africa’s vast mineral resources. Once completed, the Lobito Corridor will help move minerals from central Africa to a port on Angola’s Atlantic coast.
The landmark deal underscores Washington’s shift from providing aid to African nations to instead finance key projects that align with US priorities. However, the sudden pivot to a “trade, not aid” approach has left several African nations struggling to plug funding gaps.
