Chinese Bank approves $254m loan for Kano-Kaduna railway

The Kano-Kaduna railway project has been designated as a key initiative under the Third Belt and Road Forum for International Cooperation.

The China Development Bank (CDB) has approved a loan of 245 million euros (approximately $254.76 million) to support the construction of the Kano-Kaduna railway project in Nigeria.

In a statement released on Tuesday, the bank emphasized that the financial commitment aims to facilitate the smooth advancement of the project.

Spanning 203 kilometers, the railway will be a standard-gauge line designed to establish a direct rail connection between Kano and Abuja upon completion.

According to the statement, the railway will catalyze the growth of related industries along its route, while the construction and operation phases are expected to generate substantial employment opportunities in Nigeria.

The statement maintained that the Kano-Kaduna railway project has been designated as a key initiative under the Third Belt and Road Forum for International Cooperation.

The project is being executed by the China Civil Engineering Construction Corporation (CCECC), with the CDB providing the necessary financial backing.

Looking ahead, the CDB affirmed its commitment to collaborating closely with Nigerian authorities to ensure the timely disbursement of funds and the successful completion of the project.

The China Railway Construction Corporation (CRCC), in May 2024, highlighted the Kano-Kaduna railway project it planned to prioritize.