The China Development Bank (CDB) has granted a €245 million ($254.76 million) loan to support the construction of the 203-kilometer Kano-Kaduna railway line in Nigeria.
The standard-gauge railway will connect the northern commercial hub of Kano with the capital city of Abuja, offering a safer and more efficient transportation option for residents.
The project is expected to stimulate economic growth by facilitating industrial development along its corridor and creating numerous jobs.
The China Civil Engineering Construction Corporation is responsible for executing the Kano-Kaduna railway project.
Funding for the project is now being provided by the China Development Bank (CDB), following the withdrawal of China Exim Bank as the initial financier.
The CDB has confirmed that construction is progressing smoothly and has reiterated its commitment to collaborating closely with the Nigerian government to ensure the timely disbursement of funds and effective project management moving forward.
The CDB stated, “Going forward, it will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management.”
