DFC CEO Ben Black Signs Loan Agreement for Lobito Atlantic Railway, Securing Critical Minerals for Mutual U.S.–Africa Benefit

The U.S. International Development Finance Corporation (DFC) held a greatly anticipated signing ceremony highlighting the financial close for the Lobito Atlantic Railway (LAR). This important milestone underscores the United States’ commitment to advance strategic infrastructure that promotes regional trade, mutual economic growth, and long-term U.S.-Africa cooperation. CEO Ben Black was accompanied by Assistant Secretary of State for Economic, Energy, and Business Affairs Caleb Orr, Angola’s Minister of Transportation Ricardo D’Abreu, Development Bank of South Africa (DBSA) Group Executive Mpho Mokwele, Trafigura CEO Richard Holtum, and Mota Engil Deputy CEO Manuel Mota.

The loan will support the rehabilitation and operation of the brownfield mineral port in Lobito and an approximately 1,300-kilometre brownfield rail line in Angola running between the Lobito port to Luau on the Angolan border. DFC’s investment, alongside DBSA, in the Lobito Atlantic Railway is expected to increase Lobito’s transportation capacity ten-fold to 4.6 million metric tons as well as reduce the cost of transporting critical minerals by up to 30 percent.

“The signing of our loan agreement for the Lobito Atlantic Railway in Angola further characterises President Trump’s commitment to forging strong partnerships and alliances in Africa. This investment builds on the impactful work DFC is already leading along the corridor, reinforcing its mission to drive sustainable economic growth and strengthen strategic infrastructure,” said Ben Black, DFC CEO.

“The signing of this financing agreement between DFC and Lobito Atlantic Railway represents a historic milestone for Angola. While DFC has previously supported projects in the country, this financing stands out for its unprecedented scale and strategic significance. It sets an important benchmark for other sectors to access capital from American institutions. As the concessionaire of the Lobito Corridor railway and port, LAR plays a vital role in connecting regions and facilitating trade. With this financing, LAR will strengthen its operational capacities, ensuring the railway operates at full potential and contributes to sustained economic growth in Angola and across the broader region,” said Dr. Ricardo Viegas D’Abreu, Minister of Transport.

“We are pleased that Lobito Atlantic Railway has secured financing from DFC and DBSA to further advance the rehabilitation and operation of the line in Angola. As a shareholder of LAR, we see the railway as a key domestic and regional asset that will drive economic development and support the movement of critical metals to global markets,” said Richard Holtum, Trafigura CEO.

“The signing with DFC, DBSA, and the Government of Angola marks the culmination of long-term collaboration, together with our Partner, Trafigura, to advance the Lobito Corridor. This strategic agreement will expand transport capacity, reduce transit costs, and open access to the mineral-rich regions of the Democratic Republic of Congo and Zambia. Mota-Engil’s participation underscores its commitment to deliver an infrastructure that supports Angola’s national priorities, economic diversification, and regional connectivity. This strategic financing not only enables further investment in the project but also reinforces confidence in Angola’s institutional capacity to attract interest for world-class infrastructure initiatives,” said Manuel Mota, Mota Engil Deputy CEO.

Central Africa is rich in key resources essential to U.S. industries, including minerals critical for technology and defence. DFC’s investments help secure reliable supply chains and prevent monopolisation by China and other strategic competitors. Africa represents the second largest portion of DFC’s portfolio, with cumulative exposure surpassing $10 billion.