The port terminal project in Colombo, a crucial venture for Adani in Sri Lanka, was part of a broader strategy to expand the group’s presence in international infrastructure development. The loan, initially promised in November 2024 by the DFC, was a significant component of the funding for the terminal’s construction. However, after the bribery charges surfaced, the DFC has reassessed the situation, choosing to halt the disbursement of the loan funds.
The US agency has made it clear that while no funds had been released yet, it is actively evaluating the implications of the legal developments on its involvement in the Sri Lanka project. This review is part of the DFC’s broader commitment to ensuring that its projects align with ethical standards and legal compliance.
Despite Adani’s denial of the accusations and a stated intention to pursue legal remedies, the group faces increasing challenges. The allegations, which also include a civil case from the US Securities and Exchange Commission (SEC), have raised significant concerns about the company’s operations both domestically and internationally. The Adani Group has vigorously defended itself, calling the charges baseless and denying any wrongdoing.