JICA agrees to resume funding for BIA’s terminal 2
July 10, 2024 10:31 am
The Japan International Cooperation Agency (JICA) has agreed to resume funding for the second terminal of the Bandaranaike International Airport (BIA) extension project, facilitated under a concessionary loan scheme, says Minister of Ports, Shipping and Aviation Nimal Siripala de Silva.
The construction of the second terminal at the BIA began in 2020 with JICA funding, but has been stalled since 2022 as a result of Sri Lanka’s default due to the economic crisis.
Funded by the Japan International Cooperation Agency (JICA), the project was suspended in 2022 until Sri Lanka’s debt restructuring was finalized.
The construction of the second terminal of the airport started in 2020 at a cost of Rs. 145 billion under the ‘JICA’ soft loan scheme.
After Sri Lanka declared bankruptcy due to the economic crisis, the concessional loan programme given by ‘JICA’ for the second terminal project had also been halted.
