The China Development Bank (CDB) has approved the disbursement of the first tranche of a $255 million loan to fund Nigeria’s Kaduna-Kano railway project, a significant step in bolstering the nation’s transportation infrastructure.
In a statement released on Tuesday, CDB announced that the funding aims to ensure the smooth progress of the railway project, which is part of a broader development agenda under China’s Belt and Road Initiative. The Kaduna-Kano railway was highlighted as one of the key outcomes of the third Belt and Road Forum for International Cooperation in 2023.
Spanning 203 kilometers, the railway will provide a direct connection between Kaduna and Kano, facilitating seamless transportation between the two cities. This development is expected to enhance regional trade, ease passenger movement, and contribute to Nigeria’s economic growth.
CDB emphasized its commitment to collaborating closely with Nigerian authorities to oversee the efficient disbursement of subsequent loan installments and ensure robust post-loan management.
