Chinese Bank approves loan for Kano-Kaduna railway project

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The China Development Bank (CDB) has approved a €245 million ($254.76 million) loan to support the construction of Nigeria’s Kano-Kaduna railway.

In a statement released yesterday, the bank emphasised its commitment to providing the financial backing needed to advance the 203-kilometre standard-gauge railway project.

Upon completion, the railway will establish a direct connection between Kano and Abuja, enhancing regional transportation.

According to the statement, the project is also expected to boost economic activities along the route by fostering the growth of related industries and creating significant job opportunities.

The railway will contribute to industrial development and provide substantial employment opportunities in Nigeria.

The project was described as key under the Third Belt and Road Forum for International Cooperation.

The construction is being handled by the China Civil Engineering Construction Corporation (CCECC), with the CDB financing the initiative.

The bank also confirmed plans to collaborate closely with Nigerian authorities in the next phase to ensure timely loan disbursements and oversee the successful completion of the project.