https://en.sputniknews.africa/20250108/china-development-bank-provides-25476-million-loan-to-nigeria-for-kaduna-to-kano-rail-project-1070087519.html

China Development Bank Provides $254.76 Mln Loan to Nigeria for Kaduna-to-Kano Rail Project

China Development Bank Provides $254.76 Mln Loan to Nigeria for Kaduna-to-Kano Rail Project

Sputnik Africa

While rail transport is crucial for both passengers and freight in Nigeria, the system suffers from a lack of investment and inefficient management. 08.01.2025, Sputnik Africa

2025-01-08T17:43+0100

2025-01-08T17:43+0100

2025-01-09T12:17+0100

sub-saharan africa

nigeria

china

economy

cooperation

west africa

railway

train

transportation

development

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The China Development Bank issued a $254.76 million loan to Nigeria for a railway project connecting Kano and Kaduna.Nigeria's Kaduna-to-Kano rail project, budgeted at $973 million, has been slowed by funding issues. A recent $254.76 million loan from the China Development Bank is aimed at boosting the progress of the project, the financial institution said ahead of an upcoming visit to Nigeria by China's Foreign Minister Wang Yi.Nigeria initially approved China's Exim Bank to fund the Kano-Kaduna railway in 2020, but the bank later withdrew. The project, part of China's Belt and Road Initiative and being built by China Civil Engineering Construction Corporation, is expected to improve transport in a region plagued by armed gangs.

https://en.sputniknews.africa/20250108/china-congo-aim-for-shared-future-bolstering-cooperation-1070081473.html

nigeria

china

west africa

2025

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nigeria, china, economy, cooperation, west africa, railway, train, transportation, development, bank