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Search resuls for: "Lobito"


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Secretary of State Antony J. Blinken wrapped up a four-nation tour through Africa on Thursday with a visit to Angola, an oil-rich former Cold War battleground that has become the site of a struggle for 21st-century economic influence. During his visit to the coastal capital, Luanda, Mr. Blinken spotlighted major American investments in Angola, including more than $900 million for solar energy projects and $250 million to upgrade a rail corridor that carries critical minerals, including cobalt and copper, from central Africa to Angola’s Atlantic port of Lobito. Those solar investments help to advance President Biden’s climate agenda while the transportation improvements further his goal of diversifying American supply chains — in part to reduce U.S. dependence on Chinese control of the vital ingredients for a modern economy. Just over 20 years since the end of Angola’s civil war, which left perhaps as many as one million people dead, the country has rebuilt, modernized and developed friendly relations with Washington, which once funded rebels against a government backed by the Soviet Union and Cuba.
Persons: Antony J, Blinken Organizations: Mr Locations: Africa, Angola, Luanda, Lobito, Washington, Soviet Union, Cuba
WASHINGTON (AP) — President Joe Biden is hosting Angolan President João Manuel Gonçalves Lourenço in the Oval Office on Thursday as he seeks to reaffirm his commitment to Africa even as two wars consume much of his administration's foreign policy focus. The visit comes as Biden appears set to break his commitment to African leaders to visit the continent this year — though senior U.S. officials have made key trips to Africa throughout 2023. This is a fundamental shift in Angolan foreign policy,” lobbyist Robert Kapla wrote in April to Biden confidant Amos Hochstein, according to lobbyist disclosure records. It's part of a global infrastructure program championed by Biden that is meant as a counterweight to China's Belt and Road initiative. Much of Biden's recent foreign policy focus has been on Russia's war in Ukraine and the fighting between Israel and Hamas.
Persons: Joe Biden, João Manuel Gonçalves Lourenço, Angola's, Biden, , John Kirby, Lourenço, Robert Kapla, Amos Hochstein, Kapla, Molly Phee, Organizations: WASHINGTON, Angolan, Security, Biden, U.S, Democratic Locations: Africa, United States, China, Russia, Angolan, Lobito, Kananga, Democratic Republic of Congo, Zambia, It's, Ukraine, Israel, U.S
This would in turn secure regional supply chains, boost trade connectivity and economic activity — all similar to objectives underpinning China's Belt and Road Initiative, a global infrastructure investment strategy that Beijing launched in 2013. - | Afp | Getty ImagesThis Biden-led initiative will comprise of two separate corridors, the east corridor connecting India to the Middle East and the northern corridor connecting the Middle East to Europe. Middle East influenceChina's BRI offers a glimpse into Biden's ambition and perhaps what his infrastructure pact will come up against. Debt risksEven then, China's 10-year head start offers some cautionary lessons for Biden's global infrastructure pact. "25% of debt of emerging markets is treading in distressed territory," IMF's Managing Director Kristalina Georgieva told CNBC on the sidelines of the Delhi G20 leaders' summit.
Persons: Crown Prince, Mohammed bin Salman, Narendra Modi, Joe Biden, Ludovic Marin, Recep Tayyip Erdoğan, Evan Feigenbaum, Emmanuel Macron, Joko Widodo, Luiz Inacio Lula da Silva, Gandhi, Biden, China's BRI, Beijing's BRI, Chong Ja Ian, Kristalina Georgieva, Janet Yellen, Chong, Modi Organizations: Saudi, Crown, India's, Bharat, Afp, Getty, Biden, Initiative, Carnegie Endowment, International, Brazil's, European Union, Democratic, Fudan University, for Economics, Business Research, Arab, United Arab, Bloomberg, IMF, National University of Singapore, Monetary Fund, World Bank, CNBC, Treasury, NUS, India, Shanghai Cooperation Organization Locations: New Delhi, Turkey, Delhi —, Beijing, U.S, Raj, India, East, Europe, UAE, Saudi Arabia, Jordan, Israel, Delhi, Democratic Republic of, Congo, Zambia, Lobito, Angola, Middle, Shanghai, London, China, United Arab Emirates, Washington, Saudi, Iran, People's Republic of China, New York, United States
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