LUSAKA, Zambia 

The EU announced on Wednesday that it has so far mobilized €2 billion (approximately $2.31 billion) to fund the construction of a transport corridor connecting Zambia, Angola, and the Democratic Republic of Congo to the Atlantic Ocean.

EU Commissioner for International Partnerships Jozef Sikela made the announcement at the official opening of the EU-Zambia Lobito Corridor Business Forum, which began on Wednesday in Lusaka, the capital of the Southern African nation, and drew nearly 1,000 delegates, including government and business leaders and investors.

"The €2 billion has been mobilized through the Global Gateway strategy to help expand the existing corridor, which is a critical gateway connecting Zambia, the Democratic Republic of the Congo, and Angola to the Atlantic Ocean. The corridor is an important avenue for creating jobs and boosting economic opportunities in the agriculture, energy, and critical minerals sectors," Sikela said.

Zambian President Hakainde Hichilema, who opened the forum, urged more cooperation between Africa and the EU, citing the continent and the bloc's long history of human interaction.

"We need to do more to broaden and deepen our business and trade relations so that we can create jobs and business opportunities and generate Treasury income for our populations. Then we can get rid of the scourge of what I call the boat people: illegal migration from Africa into Europe," Hichilema said.

EU Investment Bank Vice President Karl Nehammer committed the bank and its partners to mobilizing additional resources to ensure the project's full realization.

On the sidelines of the forum, the EU and Zambia signed 10 new funding agreements totaling €200 million (about $231.47 million) as part of the corridor's comprehensive development strategy.

The allocation highlights include €50 million ($57.86 million) to upgrade Zambia's railway infrastructure, €36 million ($41.66 million) to improve agriculture and market access, and $26.5 million to fund a 32-megawatt solar power plant in the country's Western Province.