Senator Coons, Cornyn statement on investments in the Lobito Corridor

WASHINGTON - Following last week's announcement of over $560 million in new funding to support the Lobito Corridor project, including commitments expected to generate at least $200 million in additional private-sector capital that will bring total U.S. investment in the corridor to $4 billion, U.S. Senators Chris Coons (D-Del.) and John Cornyn (R-Texas) issued the following statement:

"We have both visited Angola in the past year and know that in Luanda and in capitals across Africa and throughout the Global South, our partners are asking for more American engagement from both the public sector and private sector. Increased engagement with nations like Angola, Zambia, and the Democratic Republic of the Congo don't just benefit those nations - they benefit the United States, as well. Strategic investments like the Lobito Corridor help us better compete with China and secure access to critical minerals and other important resources that will improve our own economy. Our national security will be strengthened through continued U.S. investment combined with efforts to bring peace to the region, like our efforts to end the long-simmering conflict between the Democratic Republic of the Congo and Rwanda through the Luanda Process.

"The new investments in the Lobito Corridor are proof that President Trump's BUILD Act and the Development Finance Corporation it created are critical tools that are unlocking private capital and sustainable investments across the region. Continuing to rely on the Development Finance Corporation and other public- and private-sector organizations will help us unlock private investments and ensure peace, security, and prosperity for ourselves and our regional partners."