Japan to grant Rs.49bn for Katunayake airport development

November 25, 2024

political Current Affairs

Japan to grant Rs.49bn for Katunayake airport development ^Featured

May 30, 2015

The Government of Japan has agreed to provide a Rs. 49 billion loan under the Japan International Cooperation Institution (JICA) to Sri Lanka to develop the infrastructure facilities of the country's main international airport at Katunayake.

The 45.3 billion Japanese Yen (nearly Rs. 48.9 billion) loan will be used to expand the facilities of the Bandaranaike International Airport (BIA) and to develop essential infrastructure facilities to increase the annual passenger handling capacities of the airport.

It is expected to double the annual passenger handling capacities of the airport from the current volume of 7.4 million to 15 million by the year 2020.

Cabinet of Ministers had approved a proposal by the Prime Minister Ranil Wickremasinghe to enter into an agreement with Japan to obtain these funds and to carry out future activities relating to this matter.