Maldives Airports Company Secures USD 40 Million Loan from Sri Lankan Banks

The Maldives Airports Company Limited has secured a USD 40 million loan from a consortium of Sri Lankan banks to refinance capital expenditure for the new international passenger terminal at Velana International Airport.

The loan, which marks an important step in the country's efforts to revamp its infrastructure and drive sustainable growth, will be used to enhance the airport's capacity to handle an increased number of passengers. The Maldives' thriving tourism industry, which accounts for a significant share of the country's foreign exchange earnings, faces numerous challenges, including climate change, over-reliance on tourism, and declining foreign investment.