The China Development Bank (CDB) has approved a $255 million loan for Nigeria’s Kano-Kaduna railway project, a 203-kilometer standard-gauge line connecting Kano to Abuja. The funding will ensure the project advances without delays, bolstering regional connectivity and offering a safe, efficient transportation alternative. The project, which is a key component of the Third Belt and Road Forum for International Cooperation, will be executed by the China Civil Engineering Construction Corporation (CCECC). When completed, the railway is expected to stimulate economic growth, create jobs, and enhance mobility along its route. Nigeria’s government had initially planned to fund the project with bank loans. However, the government turned to China after the banks were reluctant to fund the project due to the risks associated with railway projects.
Source: Nairametrics