China Development Bank Approves $255M Loan to Propel Kaduna-Kano Railway Project

China Development Bank (CDB) has approved the initial tranche of a $255 million loan for Nigeria’s Kaduna-Kano railway project.

This was revealed in a statement released by the bank on Tuesday.

According to CDB, the loan will play a pivotal role in ensuring the seamless execution of the transportation initiative. The railway project is one of the key outcomes listed during the third Belt and Road Forum for International Cooperation in 2023.

CDB highlighted the steady progress of the railway so far and reaffirmed its commitment to working closely with Nigerian partners. The bank plans to facilitate the timely release of subsequent loan tranches and ensure efficient post-loan management.

Once completed, the 203-kilometre Kaduna-Kano railway will establish a direct rail link between the two major cities, enhancing connectivity and boosting regional development.