The first installment of a $255 million loan for the Nigerian government’s Kaduna-Kano railway project has been granted by the China Development Bank, or CDB.
CDB revealed this in a statement on Tuesday.
The China Development Bank claims that the loan will offer vital financial support to guarantee the transportation initiative’s seamless construction.
During the third Belt and Road Forum for International Cooperation in 2023, the railway was listed as one of the practical cooperation deliverables.
According to CBD, the railway project has been moving forward steadily thus far. It also stated that it will work closely with Nigerian partners in the future to guarantee the efficient distribution of any further loans and efficient post-loan management.
According to reports, a direct rail connection between Kano and Kaduna would be possible after the 203-kilometer Kaduna-Kano railway was finished.
