Development Finance Corporation offers US$553 million to Adani Ports-led Colombo West International Terminal (CWIT)

The US will provide US$553 million in financing to Colombo West International Terminal (CWIT) Pvt Ltd, a consortium that includes India's largest port operator Adani Ports and SEZ Ltd, as it counters China's aggressive infrastructure investments in the island nation. Wants to compete. DFC is the development finance agency of the US government. The consortium will operate the port on Build, Operate and Transfer (BOT) basis for a period of 35 years. DFC partners with the private sector to address the most pressing challenges facing the developing world. It invests in a variety of sectors including energy, health care, infrastructure, agriculture and small business and financial services. According to the statement, this is the first time that the US government is funding the Adani project through one of its agencies. It said the development of the Colombo West International Terminal (CWIT) will strengthen Colombo Port's position as the primary hub in the region and is expected to increase its ranking among the world's top container terminals to 20th. It will also change the port's position in the US, which currently ranks 12th globally. ​