Adani backs out of $533mn US loan for Sri Lanka port
Adani Ports has withdrawn its request for a $553 million loan from the US International Development Finance Corporation (IDFC) for a Sri Lankan port project. Facing US fraud allegations, the company will now self-fund the Colombo West International Terminal development, originally slated to begin operations this month but now expected by early 2025.
Adani Ports has withdrawn its request for a $553 million loan from the US International Development Finance Corporation (IDFC) for a Sri Lankan port project. Facing US fraud allegations, the company will now self-fund the Colombo West International Terminal development, originally slated to begin operations this month but now expected by early 2025.
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