China Development Bank Loans $255 Million for Nigeria Railway

The China Development Bank (CDB) has approved a €245 million ($254.76 million) loan for Nigeria's Kano-Kaduna railway project, a key infrastructure initiative under the Belt and Road framework. This 203-kilometer standard-gauge railway will connect Kano, a major commercial hub, to Abuja, enhancing regional connectivity and economic development along its corridor. The project is expected to provide safer transportation and generate significant employment opportunities during construction and operation. The China Civil Engineering Construction Corporation is managing the construction, with the CDB stepping in after the China Exim Bank withdrew its support. The CDB has pledged to work closely with Nigerian authorities for effective fund disbursement and management of the project. This initiative highlights Nigeria's ongoing commitment to improving its transportation infrastructure and economic integration.