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.