Nigeria secures a big money loan from Chinese Development Bank

in blurtnews •  12 days ago 

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The China Development Bank said that it has granted a 4.76 million financing to Nigeria toward a railway project that will connect the two northern provinces of Kano and Kaduna. This comes ahead of China's top diplomat's trip to the West African nation this week.

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As part of his yearly New year trip to Africa , China's Foreign Minister Wang Yi is scheduled to meet President Bola Tinubu and other high-ranking government officials of Nigeria on Thursday after arriving in Nigeria on Wednesday.

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SOURCE

Funding problems have hindered the development of the 3 million Kaduna-to-Kano rail development.

The 203-kilometer (126-mile) standard-gauge railway would receive financial support for its seamless development, according to a statement posted on the China Development Bank's website.

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