US invests 553m in Adani port in Lanka to curb Chinas influence
09/11/2023 Marketing
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NEW DELHI: The US will provide $553 million in financing for a port terminal in Colombo being developed by Gautam Adani, as New Delhi and Washington look to curtail China’s influence in South Asia.
The funding from International Development Finance Corp. underscores renewed US and Indian efforts to loosen Beijing’s sway over Sri Lanka after Colombo borrowed heavily to splurge on Chinese port and highway projects before its economic meltdown last year.
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