The US International Development Finance Corporation (DFC) will provide USD 553 million financing to Colombo West International Terminal Pvt Ltd – a consortium of India’s largest port operator Adani Ports and SEZ Ltd, Sri Lanka’s leading enterprise John Keells Holdings (JKH) and the Sri Lanka Ports Authority.
DFC is the US government’s development finance institution.
Adani Ports and Special Economic Zone Limited (APSEZ) in a statement said that the US fund will support the development of a deep-water shipping container terminal in the Port of Colombo. “(It) will facilitate private sector-led growth and attract crucial foreign exchange to Sri Lanka to aid in its economic recovery,” it added.
According to the statement, the US, Sri Lanka and India will foster an enduring legacy of cooperation in the development of sustainable infrastructure, like smart and green ports.
DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world. It invests across sectors, including energy, healthcare, infrastructure, agriculture and small business and financial services.