In February 2010 the World Bank's Board of Executive Directors approved a loan amount of $387 million to support the Cairo Airport Development Project (CADP) to overhaul the terminal with national banks providing the rest. The project aimed at increasing the terminal capacity from 3 million to 7.5 million passengers annually. The upgrade included the complete modernization of the 20-year-old facility to reach the same level of service as the new Terminal 3. In August 2011, Turkey's Limak Holding won the tender for modernizing the terminal.