The Nigerian government on Thursday, January 9, got an approval for a $254.76 million loan from the China Development Bank.
The loan, Politics Nigeria gathered was approved as support for the completion of the Kano-Kaduna railway project which connects Kano and Abuja, Nigeria’s capital city.
A project, estimated to cost $973 million, the 203 kilometer railway had earlier being delayed due to some funding challenge.
The bank in a post on its website said the loan would aid in the smooth completion of the project and would provide a safe and easy transportation alternative for Nigerians.
The project is also an important component of China’s Belt and Road Initiative which is currently being constructed by the China Civil Engineering Construction Corporation (CCECC).
Receive Alerts On:
Facebook: METRODAILYNG Twitter: @METRODAILYNG
REACH THE RIGHT PEOPLE AT THE RIGHT TIME WITH METRO DAILY NIGERIA. ADVERTISE YOUR BUSINESS TO USERS ONLINE TODAY. KINDLY CONTACT US FOR YOUR ADVERTS OR PUBLICATIONS AT METRODAILYNG@GMAIL.COM or INFO@MERRODAILYNG.COM