‘Financial Backing!’ Chinese Bank Approves $254m Loan for Kano-Kaduna railway project

The China Development Bank (CDB) has granted a loan of $254.76 million for the construction of the Kano-Kaduna railway project in Nigeria.

In a statement on Tuesday, the bank said the funding is expected to support the smooth progress of the infrastructure project.

The CDB noted that the construction is being carried out by China Civil Engineering Construction Corporation (CCECC), with financial backing from the bank.

“The Kano-Kaduna railway, with a total length of 203 kilometers, is a standard-gauge railway,” the statement reads.

“Once completed, it will provide direct rail connectivity between Kano, an important northern city in Nigeria, and the country’s capital Abuja, offering local residents a safe, efficient, and convenient mode of transportation.”

In addition to improving mobility, the bank said the project is expected to stimulate economic growth along the railway corridor, creating job opportunities and promoting related industries.

“The Kano-Kaduna railway project has been included in the list of practical cooperation projects for the Third Belt and Road Forum for International Cooperation,” the CDB added.

The bank said the construction is progressing smoothly, reiterating its commitment to working closely with the Nigerian government to ensure the disbursement of funds and effective management of the next phases of the project.

On July 15, 2021, President Muhammadu Buhari flagged off the construction of the Kano-Kaduna railway project.

The rail project is the third segment of the Lagos-Kano standard gauge railway modernisation project.