US DFC's $500 mn loan to Adani group for Lanka port is pending
Mint Mumbai|November 27, 2024
Colombo West International Terminal aims to counter Chinese influence in Sri Lanka, boost the local economy
Nehal Chaliawala, Varun Sood

The US International Development Finance Corporation (DFC), which last year committed a half-a-billion-dollar loan to the Adani group for developing a port in Sri Lanka, has not yet disbursed any money to the Indian conglomerate.

"The project has not reached financial close or signed a loan agreement," a DFC official said in response to Mint's queries. "We continue to conduct due diligence to ensure that all aspects of the project meet our rigorous standards before any loan disbursements are made," the official said over email.

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