The Nigerian government has received an initial loan of $255 million from the China Development Bank (CDB) to support the construction of the Kaduna-Kano railway project. This announcement was made in a statement released by CDB on Tuesday.
The loan is expected to provide the financial foundation necessary to advance this critical transportation initiative. According to the CDB statement, the railway project is part of the deliverables outlined during the third Belt and Road Forum for International Cooperation held in 2023.
The Kaduna-Kano railway, stretching over 203 kilometers, aims to connect the two cities directly, improving transportation and boosting economic activities in the region. Once completed, the project is anticipated to ease travel, facilitate trade, and enhance regional connectivity.
CDB also confirmed that the project has seen consistent progress so far. They pledged to work closely with Nigerian stakeholders to ensure the smooth release of additional funds and efficient management of the loan.
CDB stated, “Going forward, we will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management.”
