U.S. President Joe Biden recently met with Zambian President Hakainde Hichilema to reinforce the partnership between their nations and reaffirm their shared commitment to economic and democratic progress.
The leaders discussed transformative infrastructure projects, including the Lobito Trans-Africa Corridor and a new rail line connecting the Angola border with Zambia. These initiatives aim to lower transportation costs, improve access to regional and global markets, and foster sustainable economic growth for Zambia.
Central to their talks was the $491 million Millennium Challenge Corporation compact, under which the United States will contribute $458 million and Zambia $33 million. The compact is expected to drive inclusive growth and create a lasting impact for future generations.
Both presidents emphasized the importance of creating an environment conducive to private sector investments in Zambia, highlighting the role of strong and resilient democracies in fostering job creation and inclusive economic development.
They also addressed the burden of unsustainable debt, agreeing on the need for reforms to ensure countries can prioritize development without being constrained by high debt obligations. Together, they committed to continuing advocacy for such changes, aligning their efforts to promote progress and opportunity.