The Chinese government is to assist in the rehabilitation of the ailing Nigerian railway system with a grant of 1 billion U.S. dollars, Nigerian Finance Minister Ngozi Okonjo-Iwuala said in Abuja Sunday.

The minister told at a joint news conference on a two-day international conference on "Financing for Development: From Commitment to Action" that the money would also be used to build new rail tracks in the country.

Okonjo-Iwuala, a former vice president of the World Bank, said the rehabilitation of the rail system is one of the programs being embarked upon by the government to ensure that infrastructure is provided and maintained in the country in line with the overall program of employment generation and poverty alleviation.

"Provision of infrastructure is critical for economic development, "she said, adding that "Nigeria and the other African countries should adopt strategies to attract investments in infrastructure provision and encourage public and private sector partnership in the provision of infrastructure."

Many African finance ministers and their health and education counterparts as well as the donors are expected to attend the two- day international conference which opens in the Nigerian capital Abuja on Sunday.

Source: Xinhua