![]() ![]() The DFC was established five years ago in response to Beijing’s massive global infrastructure building campaign, known as the Belt and Road Initiative. Local partners will include Sri Lanka’s John Keells Holdings and India’s Adani Ports & Special Economic Zones Limited, which owns a 51% share in the West Container Terminal. The Port of Colombo has been operating near its capacity since 2021, and the new terminal will cater to growing economies in the Bay of Bengal, the DFC said. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. The DFC's commitment of $553 million in private loans for the West Container Terminal will “expand its shipping capacity, creating greater prosperity for Sri Lanka - without adding to sovereign debt - while at the same strengthening the position of our allies across the region,” said DFC Chief Executive Officer Scott Nathan. The project, financed with private loans, is billed as providing critical infrastructure for the South Asian nation with the potential to “transform Colombo into a world-class logistics hub at the intersection of major shipping routes and emerging markets," according to the U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. ![]()
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