The China Development Bank, CDB, has given approval for the first tranche of a $255 million loan for the Kaduna-Kano railway project.
This was made known in a statement on Tuesday by CDB.
The statement observed that the loan will provide crucial financial backing to ensure the smooth construction of the railway project.
TREND REPORTERS learnt that the transportation initiative is on the list of practical cooperation deliverables released during the third Belt and Road Forum for International Cooperation in 2023.
The China Development Bank said the railway project has been making steady progress, so far, noting 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 in total and it expected that it would provide a direct rail connection between Kano and Kaduna, upon completion.
