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U.S. Commits Half a Billion Dollars to Sri Lankan Port To Take On China

by Cobus van Staden
Promotional images released at the signing of the DFC's deal with Sri Lanka Images via @USAmbSL

The United States will lend $553 million for a new deep-water shipping container facility in Sri Lanka’s Port of Colombo.

The project will be the largest undertaken by the U.S. foreign development agency, the Development Finance Corporation (DFC), as it challenges China’s Belt and Road Initiative. The facility will be developed in cooperation with India’s Adani Group, the Sri Lankan conglomerate John Keells Holdings, and the Sri Lanka Ports Authority.

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