Sri Lankan Banks Fund $40million Maldives Airport Expansion

NDB Investment Bank Limited (NDBIB) announced it has syndicated a five-year, US$40 million loan to Maldives Airport Company Limited (MACL) to finance the new passenger terminal at Velana International Airport.

Sri Lanka’s Hatton National Bank PLC served as lead bank and facility agent, while Nations Trust Bank PLC and Maldives-based Habib Bank Limited participated as lead banks. NDBIB highlighted its syndicated loan expertise and strong familiarity with the Maldivian market as key factors driving the deal.

The financing supports vital infrastructure expansion to increase passenger capacity and enhance tourism growth in the Maldives, which heavily relies on tourism revenues. NDBIB’s CEO Harshana Jayaweera noted the deal reinforces Sri Lankan banks’ ability to lead major cross-border financing. MACL secured the funding amid a challenging market environment with support from legal advisors FJ&G De Saram (Sri Lanka) and SHC Law and Tax LLP (Maldives).

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