US govt.-owned DFC seeks more projects in Sri Lanka for investment despite Adani Group withdrawal

By Kelum Bandara

Despite Adani Ports and Special Economic Zone (APSEZ) withdrawing its request for financing for the Colombo West International Terminal (CWIT), the US International Development Finance Corporation (DFC) will continue to seek opportunities to finance private sector-led projects in Sri Lanka, according to an embassy spokesperson. 

The US Embassy spokesperson told Daily Mirror yesterday that DFC remains committed to Sri Lanka, where it has invested over US $ 400 million in agriculture, health, women-owned small and medium enterprises (SMEs), and financial services.  

“DFC will continue to seek opportunities to finance private sector-led projects in Sri Lanka to benefit its people and economy,” the spokesperson said.  

 DFC is the US government’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today.  

“ We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights,” according to its official website.  

Adani Group backed out from the $553 million loan deal with DFC for Colombo West International Terminal (CWIT) project in Sri Lanka.  

The Adani Ports and Special Economic Zones (APSEZ) Ltd on Tuesday said it will use its own resources to fund the port project which is now on track to be commissioned next year.