China Development Bank, CDB, says it has approved the first tranche of a $255 million loan for the Kaduna-Kano railway project.
The bank in a statement on Tuesday pledged to provide crucial funding for the project
The railway project was initiated by former President Muhammadu Buhari, and is on the list of practical cooperation deliverables released during the third Belt and Road Forum for International Cooperation in 2023.
CBD said the railway project has been making steady progress, so far, adding that going forward, it will closely coordinate with Nigerian partners to ensure the smooth disbursement of subsequent loans and effective post-loan management.
The Kaduna-Kano railway spans through 203 kilometres and will link the functional 200km Kaduna-Abuja line when completed.
