The US will give $553 million in aid to Adani’s port in Colombo to reduce China’s influence in Sri Lanka

China is gradually expanding its influence in Sri Lanka and the Indian Ocean. India is worried about it. America is also looking at this. In the meantime, it was learned that America will help the project of Adani’s port in Colombo with 553 million US dollars. This money will be paid towards the loan.

Adani Ports and Special Economic Zone Limited released a statement saying that a deep port terminal is being built at Colombo Port. The project will be supported by the US International Development Finance Corporation (DFC). Note that DFC is the US government’s development finance agency. According to Adani, this investment will accelerate the pace of work and help boost Sri Lanka’s economy.

It is known that this is the first time that the US government is investing money in any project of Adani. In this context, Karan Adani, Director and CEO of Adani Ports and Special Economic Zone Limited, said, ‘We welcome this financial assistance. Thousands of jobs will be created directly and indirectly through this terminal project. This project will greatly enrich Sri Lanka’s trade and commerce.’

Colombo is the largest and busiest transshipment port in the Indian Ocean. In this situation, DFC CEO Scott Nathan said about this project, ‘Sri Lanka is one of the main transit hubs in the world. 50 percent of all the world’s container ships pass through its waters.’ Incidentally, Adani has a stake in the Western Container Terminal of Colombo Port.

Meanwhile, a terminal in Colombo is controlled by China. Sri Lanka’s Hambantota port is now under Chinese control. The government of the country failed to repay the loan given by China to Sri Lanka for Hambantota port. After that, China took control of the Hambantota port on a 99-year lease. In this climate, US support to Adani’s project is quite significant.