The China Development Bank (CDB) has approved a $254.76 million (€245 million) loan to support the ongoing construction of the Kano-Kaduna railway project in Nigeria.
The announcement, made on Tuesday via the bank’s official website, underscored the financial commitment to ensure uninterrupted progress of the 203-kilometer standard-gauge railway line.
“The China Development Bank has recently approved a loan of 245 million euros ($254.76 million) to the Kano-Kaduna railway project in Nigeria, ensuring the continued smooth operation of the development,” the CDB stated.
The Kano-Kaduna railway, a critical infrastructure project, aims to connect Kano, a bustling commercial hub in northern Nigeria, with Abuja, the nation’s capital. Upon completion, the railway is expected to enhance regional connectivity, providing residents with a safer and more efficient transportation alternative.
In addition to improving mobility, the project is anticipated to stimulate economic growth by fostering industrial development along the railway corridor. It will also create substantial employment opportunities during the construction and operational phases.
As part of the Third Belt and Road Forum for International Cooperation initiatives, the project is being executed by the China Civil Engineering Construction Corporation (CCECC) with financial backing from the China Development Bank.
The CDB reaffirmed its commitment to working closely with the Nigerian government to ensure proper fund disbursement and effective management during subsequent phases of the project. The bank also highlighted the smooth progression of construction, signalling its dedication to the success of this transformative infrastructure project.
 has approved a $254.76 million (€245 million) loan to support the ongoing construction of the Kano-Kaduna railway project in Nigeria.){kind=link}