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There is big news ahead of Diwali for veteran Indian businessman Gautam Adani. Now there is news that Gautam Adani will get a big relief from America. In fact, the American International Development Finance Corporation (DFC) has announced $553 million to Gautam Adani to develop Colombo’s waste container terminal. According to a Bloomberg report, the US International Development Finance Corporation will finance $553 million for a port terminal in the Sri Lankan capital being developed by Indian billionaire Gautam Adani.
What DFC said
Let us tell you that an indirect deal has been made between India and Washington to reduce China’s growing influence in South Asia. “DFC’s commitment of $553 million in private sector loans for the West Container Terminal (WCT) will expand its shipping capacity, creating more prosperity for Sri Lanka while also strengthening our partners across the region,” said DFC CEO Scott Nathan. DFC said it will work with sponsors John Keels Holdings Plc and Adani Ports and Special Economic Zones Ltd, relying on their “local experience and high quality standards”.
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Sri Lanka in Financial Crisis
Let us tell you that this money has come at a time when Sri Lanka is facing its worst financial crisis in more than 70 years. Sri Lanka’s economy will contract by 7.8 percent in 2022.