Loading grant details…
CDB provides $973.4 million loan for Kaduna–Kano Railway Modernization Project (Linked to Record ID#60850)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Nigeria |
| Country | Nigeria |
| Start Date | Oct 01, 2023 |
| End Date | Feb 19, 2032 |
| Duration | 3,063 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 102671 |
Grant Description
CDB provides $973.4 million loan for Kaduna–Kano Railway Modernization Project In October 2023, the Government of Nigeria and China Development Bank (CDB) signed a $973,474,971.38 loan agreement for the Kaduna–Zarai-Kano Railway Modernization Project.
It is supported by a Sinosure credit insurance policy.
The borrower was expected to use the loan proceeds to finance approximately 80% of the cost of $1,221,700,000 commercial contract with CCECC Nigeria Limited (a local subsidiary of China Civil Engineering Construction Corporation).
In December 2024, the CDB released the first disbursement (EUR 245 million or $254.7 million) under the loan agreement for the Kaduna–Kano Railway Modernization Project. The loan's principal amount outstanding was $254.7 million as of December 31, 2024. The purpose of this project is to construct a railway segment that runs from Kaduna to Kano via Zaria (Zarai).
CCECC Nigeria Limited is the contractor responsible for project implementation. Construction commenced on July 22, 2020. The project had achieved a completion rate of 50% by December 2024.
Staff Comments
- The Chinese project title is 建设尼日利亚卡杜纳-卡诺铁路项目.
- The borrowing terms are based on a CDB term sheet that Nigeria’s Senate approved in March 2023.
- The project was previously intended to be funded by a loan from China Eximbank. However, China Eximbank withdrew its support for the project, citing concerns over repayment and the Covid-19 pandemic (see Record ID#60850). Documents from Nigeria's parliament note that the contractor (CCECC Nigeria Limited) collaborated with the Nigeria's Ministry of Transportation to seek new funding from China Development Bank.
Sources & References
- Nigeria's Senate approves new Chinese bank for rail project
- Senate okays new Chinese bank for $23bn railway project, 3 months after deadline
- Kano-Kaduna rail project dally
- SENATE OF THE FEDERAL REPUBLIC OF NIGERIA ORDER PAPER - 9TH NATIONAL ASSEMBLY FOURTH SESSION NO. 85
- 中国信保多项成果纳入第三届“一带一路”国际合作高峰论坛成果清单
- China-Exim pledges support for Nigeria’s infrastructural devt
- Senate approves China Development Bank as Kaduna-Kano rail project financier
- Nigerian rail projects drive home China's belt and road commitment to African infrastructure development
- Nigerian Senate on X Segment Kaduna-Zarai-Kano
- HOUSE OF REPRESENTATIVES FEDERAL REPUBLIC OF NIGERIA SUPPLEMENTARY ORDER PAPER Thursday 23 March 2023
- Nigerian rail projects drive home China's belt and road commitment to African infrastructure development
- China Development Bank grants first loan to railway project in Nigeria
- China Development Bank grants loan to Nigerian railway
- 新华财经：国开行向尼日利亚卡卡铁路项目发放首笔贷款2.45亿欧元
- 中国国开行向尼日利亚卡卡铁路项目发放首笔贷款
- W&C Standard Template
- Nigeria's External Debt Stock as at December 31, 2024 in Million USD
- List of Practical Cooperation Deliverables of the Third Belt and Road Forum for International Cooperation Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of Nigeria
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
