Chinese bank approves $254.76m loan for Kano-Kaduna railway
The China Development Bank (CDB) has approved a loan of 245 million euros ($254.76 million) to support the construction of Nigeria’s Kano-Kaduna railway project.
In a statement released on Tuesday, the bank emphasized that this funding would facilitate the smooth progress of the project. The railway, spanning 203 kilometers, will be a standard-gauge line that will eventually provide direct rail connectivity between Kano and Abuja.
The statement also highlighted that the project would foster the development of industries along the route and generate significant job opportunities in Nigeria. The Kano-Kaduna railway is part of the practical cooperation projects listed for the Third Belt and Road Forum for International Cooperation.
The China Civil Engineering Construction Corporation (CCECC) is responsible for the construction, with financing support from the CDB. Looking ahead, the CDB stated it will collaborate closely with the Nigerian authorities to ensure the continued release of funds and the successful completion of the project.
Follow the Neptune Prime channel on WhatsApp: https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
 has approved a loan of 245 million euros ($254.76 million) to support the construction of Nigeria's){kind=link}