The China Development Bank, (CDB), has approved a $254.76 million loan to support the construction of the Kano-Kaduna railway project in Nigeria by the President Bola Tinubu-led administration.
In a statement issued on Tuesday, the bank said the funding would facilitate the smooth implementation of the infrastructure project. The construction is being handled by the China Civil Engineering Construction Corporation, (CCECC), with financial backing from the CDB.
“The Kano-Kaduna railway spans a total of 203 kilometers and is designed as a standard-gauge railway. Upon completion, it will establish a direct rail link between Kano, a key city in northern Nigeria, with the capital, Abuja, providing residents with a safe, efficient and convenient transportation option”, the statement noted.
Beyond enhancing mobility, the bank highlighted that the project is expected to drive economic development along the railway corridor, generate employment opportunities, and boost related industries.
The CDB also stated that the Kano-Kaduna railway project is part of the practical cooperation initiatives under the ‘Third Belt and Road Forum for International Cooperation’.
Construction is progressing smoothly, the bank said, reaffirming its commitment to collaborating closely with the Nigerian government to ensure proper fund disbursement and effective management of subsequent phases of the project.
Recsll that former president, Muhammadu Buhari, officially launched the construction of the Kano-Kaduna railway project on July 15, 2021.
