The China Development Bank (CDB) has approved a $254.76 million (€245 million) loan to support the Kano-Kaduna railway project. The funding, announced on Tuesday, is a major boost for the ongoing construction of the 203-kilometer standard-gauge railway designed to connect Kano, a major northern commercial hub, to Abuja, Nigeria’s capital.
According to the CDB, the loan will ensure the project’s timely completion by addressing financial constraints that might otherwise cause delays.
The bank emphasized its commitment to working closely with Nigerian partners to disburse funds smoothly and manage subsequent project phases effectively.
“Going forward, it will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management,” the bank stated.
Once completed, the Kano-Kaduna railway will offer residents a safe, efficient and convenient transportation option, significantly improving regional connectivity.
The project is expected to stimulate economic activity along its route, fostering industrial growth and creating jobs during both construction and operation.
