The US and the EU have joined forces with the African Development Bank (AFDB) and the Africa Finance Corporation to launch the west’s latest attempt to counter China’s Belt and Road Initiative.
The parties have signed a memorandum of understanding setting out plans to develop the “Lobito Corridor” and the Zambia–Lobito railway, which will together form a link across Africa through a number of large mineral deposits.

The deal was done on the margins of the Global Gateway Forum in Brussels, an invitation-only meeting of EU governments with companies, banks, and international organisations intended to promote international infrastructure.

Source: GCR