{"id":146065,"date":"2024-11-24T17:38:46","date_gmt":"2024-11-25T00:38:46","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=146065"},"modified":"2024-11-24T17:38:46","modified_gmt":"2024-11-25T00:38:46","slug":"us-agency-conducting-due-diligence-on-adanis-sri-lanka-project-report","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2024\/11\/24\/us-agency-conducting-due-diligence-on-adanis-sri-lanka-project-report\/","title":{"rendered":"US agency conducting due diligence on Adani&#8217;s Sri Lanka project: Report"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Business Standard<\/em><\/span><\/h2>\n\n\n<p>Last November, the agency said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by India&#8217;s Adani Group<\/p>\n\n\n\n<p>A U.S. agency that agreed to lend more than $500 million to a Sri Lanka port development backed by the Adani Group said it is still conducting due diligence on the project in the wake of bribery allegations against the group&#8217;s billionaire founder Gautam Adani and other top executives,&nbsp;<em>Bloomberg News&nbsp;<\/em>reported on Sunday.<small>&nbsp;<\/small><\/p>\n\n\n\n<p>The U.S. International Development Finance Corporation has not reached a final agreement on the loan, an official with the agency said in an email to&nbsp;<em>Bloomberg.<\/em><\/p>\n\n\n\n<p><small>&nbsp;<\/small>&#8220;We continue to conduct due diligence to ensure that all aspects of the project meet our rigorous standards before any loan disbursements are made,&#8221; the official said, according to the report.<\/p>\n\n\n\n<p><small>&nbsp;<\/small>Last November, the agency said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by India&#8217;s Adani Group.<small>&nbsp;<\/small><\/p>\n\n\n\n<p>U.S. authorities have charged Adani and seven other people with agreeing to pay bribes to Indian government officials to obtain contracts that could yield $2 billion of profit over 20 years as well as to develop India&#8217;s largest solar power project.<\/p>\n\n\n\n<p><small>&nbsp;<\/small>The Adani Group has said the accusations as well as those leveled by the U.S. Securities and Exchange Commission in a parallel civil case are &#8220;baseless and denied&#8221; and that it will seek &#8220;all possible legal recourse.&#8221;<\/p>\n\n\n\n<p><small>\u00a0<\/small>The U.S. International Development Finance Corporation and the Adani Group did not immediately respond to requests for comment outside regular business hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Business Standard Last November, the agency said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by India&#8217;s Adani Group A U.S. agency that agreed to lend more than $500 million to a Sri Lanka port development backed by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-146065","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/146065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=146065"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/146065\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=146065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=146065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=146065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}