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US invests $553m in Adani’s Lanka port to curb China’s influence
Credit: IndiaTimes- Published on November 8, 2023
The US will provide $553 million in financing for a port terminal in Sri Lanka's capital, developed by Indian billionaire Gautam Adani, to counter China's influence in the region. The funding from the International Development Finance Corp comes as both the US and India aim to reduce Beijing's sway over Sri Lanka. The deepwater...
Video credit: Oneindia
Published on November 9, 2023 - 03:00
US Funds India's Sri Lankan Port Project to Counter China’s Rising Influence| OneIndia News
Sri Lanka fell into a debt trap with China's $1.26 billion loan for the Hambantota Port in 2007, leading to China's control of the port in 2017. In response, the U.S. plans a $553 million investment in Sri Lanka's Colombo port, countering China's influence. The U.S., along with India's major port operator, aims to enhance Sri Lanka's infrastructure and economy.
#US #India #China #SriLanka #Hambontontaport #Srilankachina #chinadebttrap #Biden #Modi #OneIndiaNews #OneIndia
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