Chinese bank approves $254.76m loan for Kano-Kaduna railway

The China Development Bank (CDB) has approved a €245 million ($254.76 million) loan to support the Kano-Kaduna railway project in Nigeria. The loan will help ensure the smooth continuation of construction on the 203-kilometer standard-gauge railway, which will connect Kano to Abuja, improving transportation and regional connectivity.

The project is expected to drive economic growth and create jobs along its corridor. Executed by the China Civil Engineering Construction Corporation, the project is part of the Third Belt and Road Forum for International Cooperation.

The CDB is committed to closely coordinating with the Nigerian government for effective fund disbursement and project management.

Peoplesmind