The China Development Bank has announced the approval of a $254.76m (€245m) loan to support the Kano-Kaduna railway project in Nigeria.
According to information released on its website on Tuesday, the financial backing is expected to ensure the seamless continuation of the construction work.
It said on its website, “China Development Bank released on Tuesday that the bank has recently granted a loan of 245m euros ($254.76m) to the Kano-Kaduna railway project in Nigeria, providing financial support for the smooth progress of the project.”
The railway, a standard-gauge line stretching 203 kilometres, will link Kano, a key commercial city in northern Nigeria, to the nation’s capital, Abuja.
Once operational, it will provide residents with a safer and more efficient mode of transport, improving regional connectivity.
The Kano-Kaduna railway has been listed as a practical cooperation project under the Third Belt and Road Forum for International Cooperation.
Source; (Punch)
